Improve your credit score in 24 hours ebook

That will send a signal to the credit scoring algorithms that you're not managing your debt very well. Examine your account statements and jot down the balance and the credit limit for each. Calculate the utilization rate on each card. The formula is simple: It's just your balance divided by the credit limit. Yes, spend — but specifically, spend some cash to make a large payment. If you have a savings account, bonds to cash in, items you could sell, or another source of cash, use it to pay down balances as much as you can.

The closer to being debt-free or zero utilization , the better for your score. Lowering your utilization percentage is one of the best things you can do to improve your credit score. So if paying down your debt can lower your utilization, increasing your available credit can also boost your credit score. Call your creditor using the number on the back of your card and follow the prompts to speak to a customer service representative.

Present your request factually, by stating how long you have been a loyal customer, point out that your account is in good standing, and ask if a credit line increase is available.

Alternatively, visit the creditor's website and search for the "credit line increase request" option. Be realistic. This method is only effective if your account is actually in good standing. If you've missed payments in recent months or are close to maxing out your line, your request may be declined. Exert willpower. Don't spend more just because a higher credit limit is now available.

That will defeat the entire purpose of having the higher utilization percentage. But this strategy only works for the most disciplined—people who know they won't charge more just because they now have a higher credit line. Creditors run your credit to make decisions, and credit line increases are a "hard inquiry," just as if you were applying for a new account.

The inquiry will temporarily lower your credit score by a few points, but if the increase is approved, the better utilization rate will wipe out the points loss and then some. Bottom line: An improved utilization rate is another fast-track to a better credit score.

If you think you meet the criteria to qualify for a credit increase, it's an easy, pain-free way to improve your credit score. Once you get credit utilization under control, you're ready to move into the next phase—manipulating the credit scoring system. Essentially, playing around with your bill-paying schedule can earn you a few more precious credit score points. That's because even if you pay your balance on time and in full each month, when your payment is received after the date your balance is reported to the credit bureaus, it could show that your balance and your utilization ratio is high.

Call your issuer. Ask when your balance gets reported to the credit bureaus. The date is often the closing date or the last day of the billing cycle on your account, which is different from the "due date" on your statement. Get on a schedule. Make sure you're paying the bill before the closing date.

This way, your reported balance will be low or zero. FICO will then be using less than your full balance to calculate your score, hence lowering your utilization and boosting your score. Credit Bureaus. Actual Testimonial not a fake : "Just to let you know, in 3 hrs. Improve Credit Score? Loan Secret info Most lenders What Credit Score. Credit Scores. Every time you apply for a new card, a lender makes a credit inquiry, which can lower your score. Fair Isaac Corporation claims that one inquiry will not lower your score much, but that several inquiries can drop your score, because it tells lenders that you desperately need money.

Do not apply for store credit cards, even if the initial savings seem tempting. FICO considers people who have store credit cards more of a risk, and their credit score calculation algorithm takes this into account, according to former FICO executive Andy Jolls.

Pay any past due amounts immediately. The longer it takes you to pay a bill, the more it hurts your credit score. If you usually pay bills on time, a lender may agree to take that late payment off your credit report, which can significantly boost your credit score immediately.

Ethan Schwartz has been a scientific and freelance writer for a year, writing scientific literature for "Gene Therapy" and articles on education, health and personal finance for eHow. Schwartz graduated in with a Bachelor of Science in biological sciences and will begin medical school in July