For The First Time, New Breakthrough System Reveals How to Boost Your FICO Score
Credit score has been a mystery for customers ever since the term began being used widely. People know that it is a measure of the credit worthiness of a person but that is about it. They don’t know the ins and outs of credit score. What they do know is that a low FICO score is the last thing you need. With a low FICO score, you are less likely to be approved for credit cards, home loans, etc. The only way to overcome this is to boost your FICO score. Unfortunately, there wasn’t any effective way to do so. But now there is. A new breakthrough system has made it possible for the average customer suffering from the FICO score blues to boost credit score and improve his/her credit worthiness. The simple method suggested by the system is to manage your trade lines in a better way. A trade line is a line of credit that you obtain from a lender or lending institution. A credit card is a great example of this. Even a home loan is a trade line. The more active trade lines you have, the lower your FICO score will be. This is due to a couple of reasons: 1. With more trade lines active, your outstanding debt will be greater. This is why points are deducted from your FICO score each time you get a new trade line. 2. A credit inquiry is conducted every time you apply for a new trade line. One credit inquiry takes off 5 points from your FICO score. Reducing the number of credit inquiries on your credit report is one of the simplest ways to boost credit score. So, what can you do about it? The best way to manage your trade lines is by getting in touch with a credit repair company. They will suggest the trade lines you should be using, keeping in mind your needs and usage. Moreover, they can also merge multiple trade lines to make it easier for you to use credit. Their services also include getting a higher credit limit on your new trade lines. This way, even if you spend a significant amount of money on credit, you will have used only a small percentage of the limit. This way, you can rest assured that your credit lines will not get maxed out any time soon. For this, you have to get in touch with a credit repair company and discuss your situation with them. You don’t need to worry; they will provide a solution to your problems for sure.