How to Raise a Low Credit Score to an Average Credit Score of 800 in Just 40 Days!

How to Raise a Low Credit Score to an Average Credit Score of 800 in Just 40 Days!

How to Raise a Low Credit score to an Average Credit Score of 800 in Just 40 Days!

About 90% of the biggest banking establishments rely on an algorithm called a FICO Score. This is a type of credit score that was created by the Fair Isaac Corporation. The FICO Credit Score is one of the most important algorithms that you need to understand.

This score determines your capacity to borrow or if you are a potential candidate for several debt weapons. Debt weapons, by the way, are tools that enable account holders to gain several results that are beneficial for their finances.

What is the first step to getting an incredibly high credit score?

Suppose you are planning to get married and settle down with a new family which means you need a new home. You need to buy a property, but the problem is you do not have enough credit to actually afford it.

One thing you can do is ask someone you know – either a friend, a family member, a lover, etc if they are willing to add you as an authorized user.  Someone who has established themselves with at least one credit card company. When you are an authorized user of someone else’s credit card, you have their card on your name.

You are also allowed to make purchases using that card however, you are not the primary owner. Remember, you need to be completely responsible for your expenses by now especially that someone else’s credit is in your hands.

By signing as an authorized user, you can build your credit score as well.

Aside from getting access to that credit card, your primary purpose is to adopt someone else’s credit history which can actually help you build yours or make major purchases like a house, a car, or any properties that would require high credit scores. And since your goal is to get an incredibly high score to impress the Banks, see to it that the account has low balances and has been paid off on time every month.

Make sure that there is no negative history that appears on that credit line or else it will affect you the authorized user and your original holder of that credit.

Is this method reliable?

This technique has long been shunned by FICO, but it does not mean that you can’t use it.

For many credit card holders, the technique can actually lift up their score up to 700-800. Or for many of those who are just starting off, they can actually use this as a stepping stone.

For starters, if all of your accounts are solely reliant on being an authorized user, Banks or establishments can still say no to you.

With that, we suggest that you use this technique to start to cultivate your credit score until it is mature enough to begin developing on your own. Once you have enough credit that spans 40 days or more, you can apply for a credit card of your own and start building your score.

Having the best credit score is something that won’t happen instantly. You have to work for it and make sure that you’re breaking the bad habits when it comes to using your credit score.

And you can also ask for help! Start building your credit score with us! Check out Koi.Credit now.

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