Have you ever wondered if you can really raise your FICO score in a short period of time? Sure you know that with time you can increase your credit score. But is there any way you can actually boost it in a short period of time? If you’re anything like me, your credit and improving your credit score can be a real cause for concern when you want to buy a new house or a new car in less than a year. In this article you will discover a surefire way to raise your FICO score in 90 days.
Before revealing this proven method for increasing your credit score, you need to know what your score is right now. You also need to know that the magic number is 620. 620 is the score most loan officers will advise you that you need in order to get regular financing on a car or house. Anything below a 620 falls into the subprime category. Obviously you want to avoid falling into that range because the cost of financing is too dear. If you are at 620 or above, good and the more you can increase your FICO score, the more money you’ll save on interest. What if you’re below 620? Don’t fret about it; just know that you’ve got to do all you can to improve your FICO score.
There’s a credit score enhancing strategy known as “piggy backing” that allows you to legally borrow another person’s excellent credit history. If carried out correctly, you can raise your credit score in 90 days. How you ask? By adding you as an authorized user on the credit card that person with excellent credit, their credit history becomes your credit history and as a result, your FICO score goes up.
This piggy backing strategy presents a few challenges that you will need to overcome in order obtain the desired result. You will need someone with very good credit who is willing to add you as an authorized user on their credit card. The credit card issuer has to have been reporting on the person’s credit report for at least 24 months and they must report for authorized users. Piggy backing is a short term strategy and when your FICO score goes up from using it, you should have yourself removed as an authorized user. Why? if the primary card holder gets any negative entries on their credit while you’re an authorized on their account, it will cause your score to drop.
Here’s a bonus tip for you: if the person wants to help you raise your credit score, but isn’t too crazy about adding you as an authorized user on their credit card, tell them to have the extra card, as well as the PIN, sent to them – not you. Since you won’t have the extra credit card or PIN to run up charges on their card, they can feel more comfortable about helping you.By exercising care in following this strategy very carefully and by taking action, you will be able to raise your FICO score in 90 days.
