Tips and Tricks to improve credit?

[Anonymous]

Hello Team,

Well what helped me was "borrowing" credit from a family member, friend, or spouse. I became an authorized user of a card from a person who was credit responsible, they had a high credit limit and never went above 25% credit utilization.  Within a few months my score increased, however, this person transfered the card and forgot to transfer me, lol. My score did drop, but it was the boast i needed to get the ball rolling.

Hope that helps

[Anonymous]

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@Anonymous wrote:
Which installment loan is my friend?

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Can you elaborate more on what you mean?  Not sure what you are asking.

[Anonymous]

I got an affirm loan for my phone, it doesn't report, if that's what you're looking for.

[rbentley]

 

 CreditGuyInDixie

 

Community Leader
Senior Contributor

‎04-19-2016 07:15 AM

Re: Tips and Tricks to improve credit?

If you do not have any open installment loans at all (tip #4) let us know.  There is an easy cheap way to get an installment loan on your profile.  For people with no open loans, this can be a significant help.

What is the "easy cheap way to get an installment loan on your profile" that you refer to?

[rbentley]

If you do not have any open installment loans at all (tip #4) let us know.  There is an easy cheap way to get an installment loan on your profile.  For people with no open loans, this can be a significant help.

[Anonymous]

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@rbentley wrote:

What is the "easy cheap way to get an installment loan on your profile" that you refer to?

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It's called the Share Secure Loan Technique.  You only need to read the first 2-3 posts of this thread to find out all about it:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

[Anonymous]

Thank you, my friend. Have a great day.

[Anonymous]

Just wanted to put this out there.

I paid my car off a month ago and it dropped my score 40 points.

36 on Equifax and 40 on TransUnion

I only have credit cards and that's it.
No student loans or anything.

[Anonymous]

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@Anonymous wrote:
Just wanted to put this out there.

I paid my car off a month ago and it dropped my score 40 points.

36 on Equifax and 40 on TransUnion

I only have credit cards and that's it.
No student loans or anything.

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If, at the time of the payoff, you owed less than 9% if the original debt, that point loss is what we'd expect.

You should able to get your points back by implementing the SSL Technique.

[Anonymous]

Yeah I did owe less than 9%!
Lol okay good also what's the SSL technique?
Please explain

[Anonymous]

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@Anonymous wrote:
Yeah I did owe less than 9%!
Lol okay good also what's the SSL technique?
Please explain

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Scroll up about 4-5 posts and you will see it mentioned.  It stands for the Share Secure Loan Technique.  A link is provided that tells all about it.