Getting Ready to Buy a Home | Here are 11 Ways To Raise Your Credit Score, Fast

A recent survey from the National Foundation for Credit Counseling indicates that more people would be embarrassed to admit their credit scores (30%) than their weight (12%).

While crash diets don’t usually work and can be unhealthy, it is possible to change your credit score fairly quickly. But just as with weight loss, “quickly” is a relative term. Seeing any improvement could take 30 to 60 days, according to Liz Weston, personal finance columnist and author of Your Credit Score, Your Money & What’s At Stake.

But nothing will change at all if you just sit there on the couch, eating Cheetos and charging items on the Home Shopping Network. So get moving!

The first thing to do is get a copy of your credit report from AnnualCreditReport.com. The three major credit reporting bureaus must give you one free copy per year, so plan to order one every four months

Then use one or more of the following tips to boost that three-digit number that has increasing power over our everyday lives.

  1. Dispute errors. Mistakes happen. You can dispute errorsonline through EquifaxExperianand TransUnion. After you’ve fixed any foul-ups, you might try to…
  2. Negotiate. You can’t deny that you stopped paying a credit card bill when you were unemployed last year. But you canask creditors to “erase” that debt or any account that went to collection. Write a letter offering to pay the remaining balance if the creditor will then report the account as “paid as agreed” or maybe even remove it altogether. (Note: Get the creditor to agree in writing beforeyou make the payment.)  You might also be able to ask for a “good-will adjustment.” Suppose you were a pretty good Visa V +0.81% customer until that period of unemployment, when you made a late payment or two – which now show up on your credit report. Write a letter to Visa emphasizing your previous good history and ask that the oopsies be removed from the credit report. It could happen. And as long as you’re reading the report, you need to…
  3. Check your limits. Make sure your reported credit limits are current vs. lower than they actually are. You don’t want it to look as though you’re maxing out the plastic each month. If the card issuer forgot to mention your newly bumped-up credit limit, request that this be done. 
  4. Get a credit card. Having one or two pieces of plastic will do good things to your score – ifyou don’t charge too much and if you pay your bills on time. In other words, be a responsible user of credit.  Can’t get a traditional card? Try for a secured credit card, taking care to choose one that reports to all three major credit bureaus. And if you can’t get a secured card, you might ask to… 
  5. Become an authorized user. This means convincing a relative or friend to be added to his or her existing credit card account. If you’ve had a checkered financial history, don’t be surprised if you hear the word “no” a lot. But you might luck out, especially if you’re a young person who has no history of poor credit use.  Offer to put an agreement in writing stating how much you can spend and how you will get your share of the bill to the cardholder. Then “do your part and use the card responsibly,” says Beverly Harzog, author of Confessions of a Credit Junkie. In other words, don’t buy more than you can afford and don’t leave your co-signer hanging when the bill is due. The point is to learn to use credit responsibly.
  6. Under-use your cards. Yes, we did just tell you to get credit by any means possible. But don’t whip out the plastic to pay for everything. The “credit utilization ratio” should be no more than 30% and ideally even less. Harzog says that a 10% credit utilization ratio will “maximize this part of your FICO score.”  For example, suppose your Mastercard has a $1,500 limit and you routinely charge a grand a month. It doesn’t matter if you pay it all off before it’s due. What matters is the credit bureaus think “Curtis is using two-thirds of his credit! What a spendthrift!” And if you’re a cash-free kind of guy? Then try to…
  7. Raise your credit limit. Ask your creditors to increase your limit, i.e. making that MasterCarda good for up to $3,000. Be careful with this one, though: It works only if you can trust yourself not to increase your spending habits accordingly. Otherwise you’ll be right back to using 66% of your credit each month and how will that look?
  8. Don’t close any cards. Canceling a credit card will cause your available credit to drop, which doesn’t look good to a bureau. One way to keep a card active is to use it for a recurring charge such as a utility bill. There’s room for that in your budget, right?
  9. Mix it up.Using a different kind of credit can make for a modest boost to your score. For example, you might take out a small personal loan from the credit union or buy a piece of furniture or appliance on installment (but only if you’re 100% sure you can and will meet the payment schedule). 
  10. Pay your bills on time. Seriously. Your payment history – including the ones you pay late or skip altogether – makes up a whopping 35% of your FICO score. If you’re absent-minded or merely overwhelmed (Hi there, parents of young children!), then for heaven’s sake, automate your payments. Even better than paying on time is to…
  11. Pay your bills twice a month. Using too much of your credit limit at any given moment doesn’t look good. Suppose your limit is $3,000 and a month’s worth of havoc (car repair, doctor bills, plane ticket for kid to get to college) means you’ve charged up $2,900. Sure, you plan to pay in full by the 18thof the month – but until then it looks like you’re maxing out yet another card.  Instead, make one payment just before the statement closing date and second one right before the due date. The first will likely reduce the balance that the credit bureaus see and the second makes sure you won’t pay interest or a late fee.

 Credit: Curtis Arnold BestPrepaidDebitCards.com.

Forbes.com

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3 Tips for Building Personal Brand

The MPW Insiders Network is an online community where the biggest names in business and beyond answer timely career and leadership questions. Today’s answer for, “What’s the best way to manage your personal brand?” is written by Carine Clark, president and CEO of MaritzCX.

How many times have you heard, “I totally Googled you”? Last summer, I was on an African vacation with my family and 20 strangers. Two weeks into the trip, one of the retired guests said, “I totally Googled you, and you are different than I thought—you’re a big deal.” Even though I had tried to be in the background, humbly enjoying my time away from my regular life as a CEO of a fast-growing tech company in Utah, I couldn’t escape my brand—even in the middle of Africa.

I believe that your personal brand should be personal. It should be authentic, and it should be a rich representation of not only what you’ve done, but of who you are and what you care about. I’m a tech CEO, but I care about mentoring young people. Because I understand how important my brand is when it comes to the outcome of my career, I’m very deliberate about the projects and organizations I choose to support. Your brand will always be defined by the traits you display and the work you do in your personal life.

 

Do forensics on your brand
Before you can effectively manage your personal brand, you must first have a 360-degree understanding of how others perceive you. Reach out to friends or colleagues who will be honest with you and ask for their feedback. Listen to what they have to say. Some of what you hear may be on par with what you want your brand to be, and some may vary.

See also: Here’s What Would Happen if More Leaders Embraced Their Flaws

Early in my career, some of my colleagues told me people thought I was mean—some were even scared of me. I knew that I had high expectations and that I could be tough, but mean? I had spent countless hours helping mentor young people and giving back to the tech community, so why didn’t that stand out? I was typically very direct—almost curt—when speaking to people, and realized I needed to be careful. You need to give people context before asking them to do something that you need.

Simply put, if you want to be recognized as philanthropic, then be big-hearted and generous. If you want to be perceived as humble, then be humble. Your brand directly reflects what you’ve done, who you are, and what you care about. Early on, I realized what mattered to me and wanted my brand to reflect entrepreneurship, mentorship, and advocating for women in tech. When I understood how my brand was perceived, I was empowered to make it happen.

For instance, I would only take speaking engagements that supported my values. Even now, I only share social content that falls in line with my brand. Most importantly, I spend a lot of my professional and personal time putting my money where my mouth is.

It’s no secret that the only constant in life is change. As you learn and grow, so will your brand. Let it. Just be cognizant of what the changes are. Most importantly, realize that rough patches and hard times—whether they be layoffs, health crises, or family emergencies—don’t have to define your brand, but they can refine it.

5 Ways to Build a Strong Personal Brand
Former President of Entertainment for Telemundo Nely Galán explains.
At one point in my life, I had to accept that cancer would, to some extent, be a part of my brand. While I didn’t want to be defined by it, I had to recognize that people knew about it and it was out there, so I embraced it and braided it into my brand. My brand message was, “Yes, I’ve dealt with hard stuff, but everybody has.”

If someone were to “Google” you today or ask your friend or boss about you, would they discover something different from what you want your brand to be? Be honest with yourself. When what you want your brand to be is inconsistent with the perceptions of others, the only person who has the power to change it is you. There is strength in knowing who you are and working every day to make it real.

credit: Fortune Magazine