There’s a free, easy way to hike your credit score—and slash your financing costs—in just minutes…
A key factor affecting your credit score is your “utilization ratio.” It tracks how much of your available credit you’re using.
Higher utilization rates (above 30% for a given account) may lower your credit score.
Now here’s the “hack”…
- Call your credit card company.
- Ask them to increase your credit limit.
- That’s it.
CNBC reports credit card companies grant credit line increases 80% of the time. The additional free credit will lower your utilization ratio… and improve your overall credit score.
[We know it makes no sense—you didn’t become more creditworthy just by gaining access to more overall credit—but most things go against common sense in today’s financial world…]
Here’s the most important part: Do NOT “fill up” this additional credit with additional debt. If you already have a debt problem, more debt is never the solution…
Creating Wealth Managing Editor Lindsey Hough shared another free credit solution in the March issue. She saved $50,000 in two 15-minute phone calls… and she reveals how you can, too.
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