As the credit crunch continues, bank lending is tightening and it has become more and more difficult to obtain credit. If you are like millions of American’s you are probably wondering how to raise your credit score.
The truth is that if your credit is badly damaged, it may not be possible to raise your credit score quickly. Learning how to raise your credit score and implementing a long term approach is the best thing you can do.
Most of my posts talk about how to raise credit score quickly. Today I would like to give you my top ways to raise your credit score slowly.
Yes, I know that raising credit score slowly isn’t nearly as sexy as a quick fix. But, the fact is that there are many strategies that work but take time.
• Establish New Credit – When you open a new account, your credit score may take a temporary dip. It will recover, and unless you max out your new credit card, your score will eventually end up stronger. This is especially true if you currently have a very limited positive credit history.
• Rehabilitate Student Loans- Did you know that if you arrange to rehabilitate your student loans, you can have the negative history deleted in as little as 12 months? All you need to do is make 12 on-time payments.
• Pay for Delete- If you save up to pay an account in full in one lump sum, you can negotiate with the lender to completely delete the account and all of it’s negative history from your credit file. Because you are willing to pay off the full balance, many lenders are happy to do this for you. Just make sure you get the agreement in writing prior to making a payment!
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