7 Moral, Ethical, & Perfectly Legal Ways to Boost Your FICO Score

June 30, 2015 | Uncategorized | 0 comments | Author: Dmitri

Are you looking to boost your FICO score? There are many scams going around online that promise to help you boost credit score but use illegal and unethical ways. There is no point in spending your money on getting your FICO score fixed only to have it revoked by the lenders when they inquire your credit. That being said, there are some moral, ethical and perfectly legal ways you can boost your FICO score. Here are 7 of them:

1. You have to change your spending habits. Make as many payments as possible in cash and stop using your credit cards. You shouldn’t cancel the credit cards you don’t use but make it a point to not use them for making purchases.
2. Don’t leave any bills unpaid at the end of the month. Unless there are certain circumstances where you fail to make the payment, make sure every bill is paid off before the next month commences. This ensures your outstanding debt is lower, a major factor in improving your FICO score.
3. Pay off as much of your debt on the trade lines you currently use. For instance, if you have a credit card with a maxed out limit, pay off at least some of the debt so that your debt is lowered. This is another way you can boost your FICO score.
4. Study your credit reports in detail and tally them with your credit card and bank statements. Make sure there aren’t any errors. Even a slight mistake in the credit report can hurt your FICO score.
5. Make the most of credit inquiry removal. If you see that the number of credit inquiries on your credit report is increasing, hire a credit repair company to have them removed. Each inquiry costs you 5 points from your FICO score. Credit inquiry removal will automatically boost your FICO score.
6. Limit the number of tradelines you apply for. Discuss your credit needs with a professional before applying for a loan or a new credit card. Some credit repair companies even merge multiple trade lines so that the credit limit available to you is higher.
7. Offset the negative items on your credit report by increasing the number of positive reports. You can do this by having negative items stricken off the report by a credit repair company. This will boost your FICO score considerably.

These are seven of the best moral, ethical and perfectly legal ways to boost your FICO score. Keep these in mind the next time you find yourself looking at a disappointing credit report.