How to Build a Credit core Fast? Credit Score Boost

What is the fastest way to boost a credit score?
Expert answer by Alex Gerard,
10+ years experience in banking consulting

1) Check your actual credit score at www.annualcreditreport.com. It’s free once a year for everybody

 

2) Start with Capital One Platinum card (no annual fee for 1 year and you will not need this card for another year).

Another option is Capital One QuicksilverOne Rewards card with $39 annual fee.

Your credit limit will probably be in $300 - $500 zone.

 

3) For more aggressive credit building you'll need an installment loan. Get one of the 12 months credit builder loans from a bank or credit union.

 

4) Use your card for 6 months. 

Important: Never use more than 7-10% of your total credit limit inside the payment period and always pay off your balance in full several days before the deadline.

5) After 6 month of Capital One card use, apply for a Discover IT card
 
 
6) Discover offers a free real FICO credit score for account owners. Track your score there. Do not forget to use no more than 7-10% of your total credit line from both cards and always pay off your balance in full.
 
7) In 6 months you'll likely be in an excellent credit zone. 
 
8) Do not forget to close that installment loan
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