How to BOOST your credit score CRAZY fast | Credit Hacks

So you want to know how you can
boost your credit score crazy fast? In this video, I will prove the experts wrong when they
say it takes a long time to build up a credit score. I will show you 5 tactics
that you can utilize if used correctly, to grow your credit score upwards of
150 points in the next 72 hours and accelerate your rich life. Stay tuned. What's going on fam? Justin Houser
here and welcome to WHAT THE…Finance Fridays.

Where I go over vital information in
only 5 minutes on how you can become financially smarter. So if you'd like
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Also feel free to check the
description link below for show notes, links the recommended
products and anything that I
might've forgot to mention in this video. So let's get into how to
boost your credit score. Crazy fast. I've been teaching these techniques to
friends and family for years now with amazing results. In fact, a family of mine recently used one of
these techniques that I'm about to show you to increase this credit score
from 610 to 750 and 72 hours, and since he has now increased it from
750 to 775 in the past 90 days alone. The 1st technique that you can use to
boost your credit score crazy fast is to become an authorized user.

This technique is what my family member
used to help him boost his score almost 150 points within 3 days. This is something that usually takes 30
to 60 days for it to be updated by all three credit bureaus, but he had a rare occurrence where
it updated way faster in only 3 days. This works best for people who have no
credit or horrible credits such as 600 or below. If you need to know
what a credit score is, I actually went over that exactly and
how to obtain credit reports for free and a previous video, link right
up here, either here or here, and also in the description below. So make sure you check
out that after this video. There are a lot of misconceptions
about becoming an authorized user or piggybacking off of someone else's
credit as it is usually referred to.

So let me clear that up right now and
give you the steps on how to set this up. Step number one, identify who will
authorize you to be under their credit. You can become an authorized user
under someone else's account. That could be a parent, a sister,
a brother, or even a child. If they have really good credit and a
long credit history underneath their belt.

I would recommend to aim for someone with
at least a seven 50 as a credit score. And step number two, get a
credit card with your name on it, but under their account. This is
similar to what a co-signer is. When you buy something such as a car, this would also mean that they are liable
to pay off credit card bills if you don't and you wouldn't be held
liable for these bills. However, I do not recommend this as they did take
the risk in the first place by making you an authorized user. The biggest question I
get on this is as follows, why would I let someone with a
lower credit score on my account? Wouldn't this lower my score in her my
credit report? No.

How is this possible? Your score will get reported to the credit
Bureau separately from the person who authorized you, so if you
get authorized from someone, let's say your parents who score was a
seven 90 there's a high probability that your score will jump upwards of 50 75
even a hundred or more points and less than 30 days. Is there a
downside to this? There can be. Since the big subprime mortgage crisis
back in 2007 it changed some of the ways that lenders look at credit reports. I do not recommend you immediately go
out and try to get a mortgage of $500,000 because you now have
a credit score of 780.

What's going to happen is that
the lenders could, not always, but look a little more in depth into
your credit history and see that you're simply an authorized user. So in short, becoming an authorized user is great
for getting a big initial boost in your credit score, but maybe not the best thing if you're
applying for one and a half million dollar mortgage tomorrow.

The 2nd strategy in boosting your
credit score crazy fast is strategically contacting the credit reporting agencies.
Just like buying a car to dealership. Anyone can walk in and
purchase it. However, not everyone wants to actually start
negotiating at the table for hours on end just to get that amazing deal. The same goes with contacting credit
reporting agencies minus the hours negotiating. You simply
identify the errors, tell the credit reporting company
in writing what info is inaccurate, allow time for the investigation and
then follow up requesting results in writing. Side note. If the results change, you are obligated for a another
free credit report from that agency. I personally have done this several times, including actually once where I had a
bill that was sent to a previous address for over a year.

Then I finally received
the infamous call from a creditor. Long story short, I fixed it with the
creditors, I fixed it with the company, and then I fixed it with a credit
Bureau and it was removed from my credit report. I will go into extreme detail on
exactly what the four step formula is on getting an accurate information off of
your credit report on the next video in the what of finance Friday series.
So be on the lookout for that. And the third tactic, avoid hard
pools for near future large purchases. So let's say that you're going to buy a
car here soon and you're going to need a $25,000 loan, not a new car, because I know you're smart and
you're not gonna waste your money.

You're going to buy a used
car in the next 60 days. You need to avoid any other hard pulls
for at least a couple months beforehand, such as credit card applications,
mortgages, other loans, et cetera. Keep in mind that there is a hard
pool and there's a soft pool. I will go over the differences of the
two in a future video, but for now, just know that hard pull shows up on your
credit report and soft pull does not. Also note that hard pulls will usually
drop your credit score upwards of 15 to 30 points. It does not matter too
much in the longterm, but again, it does in the short term
of a 60 to 90 day period.

The 4th tactic is keeping your
credit utilization extremely low, where 0% as I did my personal goal
is to not have a perfect 850 score, but to have $100 million net worth
before I'm legally retired in America, which is 62 years old.
However, to get there, I will need to use
credit from time to time. This is why knowing what credit is and
not only achieving that high credit score, but maintaining that
high credit score is vital. I have talked about in each of my
previous credit hacks video series.

So if you need to know exactly what the
credit utilization is in depth and check one of my previous videos after
this video is done in short, keep your credit utilization under 10%
or ideally zero to increase your score tenaciously tenaciously. Wait a second. So I really liked that word tenaciously. It kind of sounds something like
a lion would say if it could talk. The lion is my favorite animal, but
not sure if I'm using it correctly, but hey let's just go with it. So I remember actually when I wrote a
check to finally pay off my $10,000 left on a previous auto loan,
thus making me DEBT FREE.

My score immediately jumped 50
points within the next 30 days. So keep that credit utilization level
low in the 5th tactic is do not miss any payments. I have harped on
this in several videos now, but this is the most simple yet one of
the most common reasons people do not have high credit scores. It is really
easy nowadays to forget to pay something. We all have many online payments
such as Netflix, YouTube, HULU and soon to be Disney
plus (can't wait that). We eventually just get a little clumsy.
We all have the luxury of auto pay. Set it up. Side note companies usually do not report
to the credit bureaus that you were late on a monthly bill, so if you miss
one bill, don't freak out. It's okay. However, they usually start reporting it to the
credit card agencies after a few months of pass.

I personally did this once, I forgot to pay my Netflix bill for three
months and didn't even notice until I got a letter from them saying that I need
to pay immediately or they're going to send it to collections. I also noticed that it was reported on
my credit report that I was late three months. How in the
world could this happen? I have like 500 online auto
pay set up. Not really, but I think you understand my point and
I had been paying on time when no miss payments for like 10 years now. Now this is stuck on my credit
for three, five, seven years, whatever it is nowadays, negatively
affecting it. So what did I do? I called Netflix. I explained
what happened, I paid it off.

Then I asked them to please contact the
credit bureaus and ask them to take it off my report. They said, okay. And within 30 days I was off my credit
report and my score automatically jumped up 30 plus points. So there are the five different ways
that you can boost your credit score. Crazy fast. I hope this video
helped you, and if it did, could you please do me a favor and
SMASH THE LIKE BUTTON below and leave a comment as well. Now it's
time for QUESTION OF THE DAY: Which one of the 5 tactics
are you going to use? Please leave your answer below in the
comments as I would love to connect with you. Be on the lookout for the next
WHAT THE…Finance Friday video, as I will be discussing HOW TO DISPUT
CREDIT REPORT – INSIDE SECRETS REVEALED. Thank you for being part of the community
and I'll see you on the next video.

[inaudible]..

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