Credit Score Explained: Increase Credit Score By 20 Points With 1 Step

It is not necessary for a financial adviser to provide an explanation of the credit score. Can you understand it. It’s pretty simple. The lower your scores are on your credit report, the worse your situation will be. It’s that easy. So a credit score explanation is not rocket science. Now the question is how do you increase the rating?

While working in the financial industry for many years, I found a few tricks that drastically improved people’s ratings. A credit score explanation may not give you these extremely simple tips, but I’ll discover one for you right now.

Sometimes you need to keep things simple, especially in the financial aspects of your life and that is exactly what these tips are.

Credit Score Explained: 1 Method To Increase Credit Score By 20 Points

1. Call your credit card companies
2. Talk to the credit department
3. Ask them to reduce your lines of credit to the minimum point (keep 2 lines of credit open with as much credit as you want)
4. The rest is reduced to the minimum allowed
5. DO NOT CLOSE THE ACCOUNT

So how does this increase your score by 20 points? Well, credit monitoring companies are looking for responsible consumers. If you have too much unused credit in your name, it actually hurts your score and points are taken away. When you do this method for at least 2 credit accounts, your score will automatically increase by 20 points.

See how simple these tips can be. There are literally 100 more that I came across while working in the financial district. None of the credit explanations can give you this kind of advice.