How To Get An 800 Credit Score In 45 Days (5 Steps)

TL;DR

This video provides five tactics to quickly increase your credit score, including becoming an authorized user and disputing incorrect information on your credit report.

Transcript

hey so in this video I'm gonna share with you five different tactics that you can utilize to grow your credit score as fast as possible now the big issue with credit scores is that they usually take a really really long time to build up but in this video I'm going to share with you a few different tactics that you could use to really grow that a lo... Read More

Key Insights

• 💨 Becoming an authorized user under someone else's account is a fast way to improve credit scores in the short term.
• 🥺 Disputing incorrect information on your credit report can lead to significant score increases within a couple of months.
• 💳 Hard pulls on your credit should be minimized to maintain a good credit score.
• 💳 Keeping credit utilization low (1-10%) is crucial for maintaining and increasing credit scores.

Questions & Answers

Q: How can becoming an authorized user under someone else's credit account boost my credit score?

Becoming an authorized user allows you to piggyback off the person's good credit history. Their score's positive impact transfers to your credit report, helping improve your score within a short period. However, it's crucial to choose someone with a credit score above 750 and who reports authorized users separately.

Q: Can I dispute incorrect information on my credit report? How does this help my credit score?

Yes, you can write letters to the three major credit bureaus disputing inaccurate information. If the bureaus find the information invalid, they will remove it from your report. Removing negative items can significantly boost your credit score within 30 to 60 days.

Q: How do hard pulls on my credit affect my credit score?

Hard pulls, which occur when a financial institution checks your credit for loan applications or credit card approvals, can temporarily decrease your credit score by around 10-20 points or more. To maintain a good score, it's important to avoid unnecessary hard pulls, especially before major credit applications.

Q: What is credit utilization, and why is it important to keep it low?

Credit utilization represents how much of your available credit you are using. Keeping it low, ideally below 10%, shows responsible credit management and helps maintain or improve your credit score. Higher utilization, such as 30% or more, can negatively impact your score.

Summary & Key Takeaways

• Becoming an authorized user under someone else's credit account can quickly boost your credit score, especially if the person has good credit history.

• Writing physical letters to the credit bureaus can help dispute incorrect information on your credit report and improve your score within 30 to 60 days.

• Avoiding hard pulls on your credit and keeping your credit utilization low (1-10%) are crucial to maintaining and improving your credit score.

• Paying off your minimum credit card payments every month is essential to avoid defaults and negative impacts on your credit score.