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Seven Hacks to Boost Your Credit Score

Published on June 30, 2022
by Contributor, Kit Elliott

Let’s talk about how to really boost your credit score. Below are the steps that I took to get my credit score above 800 for the first time ever. It went from low 700’s to 805 in less than 90 days.

Here are the hacks to boost your credit score:

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Pull a Free Credit Report

First – pull a credit report at Annual Credit Report. This is one of the few places that you can get a 100% free credit report from all the credit bureaus. Let’s take a look at what you have right now. You’ll want to first check it for accurate information. If you need to dispute anything on your report, click here for a template and directions.

What Makes Up Your Credit Score

Your Total Credit Score is: 850 points

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Reply to @landolakes81 What makes up a good credit score? ##credit ##creditscore ##edutok
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Your credit score is divided up like this:

Good Payment History: 300 Points
Credit Utilization: 255 Points
Length of Time: 125 Points
Credit Mix: 85 Points
New Credit: 85 Points

Hacks to Get a Perfect Credit Score

@thebusinesskid
Five Hacks to a Perfect Credit Score ##creditscore ##credittips ##perfectcredit ##tips ##tricks
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Now, let’s take a look at each category and let’s try to maximize our points.

Good Payment History: 300 Points
Credit Utilization: 255 Points
Length of Time: 125 Points
Credit Mix: 85 Points
New Credit: 85 Points

To get more points from “good payment history”, let’s find items that aren’t on your report but you pay anyway. If you have rent, use one of these services to add up to two years of rent history.
If you have Netflix or Utilities, use Experian Boost to search for monthly bills that aren’t on your credit report now.
If you have any late payments, ask your credit card to remove any late marks – they usually allow ONE.
To get more points from the credit utilization category – pay down your balance or increase your limit. You want to get this down to 10%. Click here to read about credit utilization ratio.
To get more points from “length of time” category – ask your parents to add you as an authorized user on their oldest card. This will add a new tradeline to your report and increase the length of time.
To get more points from this category – add your credit card for points and another one for appliances like Home Depot. Set it up on a 90 day autopay to pay it off. You’ll use the points for travel. You’ll use the Home Depot for home projects and paying off over 90 days will also contribute to your good payment history category.
To get more points from the new credit category – open a new account at 1 every 2 years if you can – do not open a bunch of credit lines all at one time. Inquiries stay on for two years and your score considers inquiries from only the last 12 months.