Three Easy Ways to Boost Your Credit Score Quickly

Here are the 3 best ways to boost your credit in a short amount of time.

(Feature from one of our top loan officers - Tony Rovella of Novus Home Mortgage)

The first thing you need to do is open up a revolving credit card. I recommend First Premier or Capitol One if you’re just starting out. A lot of times I have clients ask me why their score isn’t higher and it’s because they don’t have any revolving accounts like a credit card. Don’t confuse student loans or car payments with revolving accounts. They are installment loans and don’t have the same pop to your score as a revolving account does. If you’re trying to build credit, make sure you leave a $10 to $20 balance on your cards every month. Don’t pay your card to zero, leave a small balance.

The second thing you need to do is have a friend or family member with good credit add you on their credit card as an authorized user. Make sure the balance utilization is below 30% when you do this, and they have zero late payments. Also, when they call the creditor and make sure they stress that they want the account to appear on your credit report so they will need your social security number handy. These typically take 60 days to post to the bureaus and I would only be added onto 1-2 authorized user accounts tops. Lastly, I would have your rent report via your landlord. They are rent reporting agencies that can do this for a small fee. Make sure your rent payments are paid on time before you do this. If you contact me, I can plug your landlord directly with my credit vendor and we can get that to report immediately at no charge. Hope these tips help you on your home buying journey.

Tony Rovella

Loan Officer

NMLS #229704

M. (708) 203-4379

trovella@novushomemortgage.com

https://www.novushomemortgage.com