How To Repair Credit Score - 3 Little Secret Tips You Must Know To Raise Your Credit Score

Once you learn how simple it can be by doing it for yourself, you will find there is a fortune to be made doing it for others!

In this Lens I'm about to give you the insider techniques tips from by Consumer Publishing Group, which publishes the Credit Secrets Bible (in print since 1994 and updated each year.

THE FACT

United States citizens are rich with "buying power" but poor in the knowledge and financial intelligence that tell us how to use it. This might be why over half a million people (597,965) filed for Bankruptcy in 2006

Source: http://www.uscourts.gov/bnkrpctystats/statistics.htm

Most people don't realize that they are "knowledge-poor" in the area of finances and credit until it's too late. By the time most of us are aware that we lack financial intelligence, the damage has already been done. This is why understanding credit and credit-repair is so important. For many people, credit repair should be the first step that they take towards a better financial future.

Credit Secrets Bible's insider techniques have helped hundreds to raise their credit score with simple action plan and tips.

DO YOU KNOW THAT.....?

Are you aware that the credit report banks and businesses get to see has about TWICE the financial information compared to the credit report you receive from the credit bureaus?


That's right. In most cases, the credit bureaus send a much more detailed report to businesses than they send to you. A bit deceiving, isn't it?

This is why banks and businesses (except mortgage lenders) will NEVER give you a copy of "your" credit report. No. They'll look you in the face and tell you to request your own copy from the credit bureau (If you don't believe it, next time you get turned down for credit, ask them for a copy of your credit report and see what they say).

The credit system is full of "little secrets" like this. Most people find them frustrating.

Credit Secrets Bible will show you how to take each one of these secrets and use it to your advantage.

"I have excellent credit, I pay all my bills off in full every month!" This is a false belief for one to buy into and understanding your debt to credit ratio holds the key to getting your "credit mindset" right.

=> For example.

If you have $10,000 in total unsecured revolving credit accounts and you're currently in debt $2500, then your debt to credit ratio is 25%. Since the main way lenders make money is by charging interest, one of the elements of the credit scoring model is driven by your ability to maintain balances and pay over time. This shows your true (long term) credit worthiness which is most profitable to lenders since they make money primarily via interest and not annual fees.

If your debt to credit ratio is high, you can bring it down without selling everything you own. The next tips will explain it.

Get The Complete Guide From Credit Secrets Bible

Sub Prime Merchandise Cards can be used to increase high credit limit and decrease their debt to credit ratio.

Unfortunately,
Despite their immense benefits, these are the most misunderstood cards in the credit industry. A large portion of the misunderstanding is due to marketers misrepresenting the cards and the growing number of companies promoting them. When you learn how they work one quickly understands why they have been the subject of much misrepresentation.

Credit Secret Bible have explain in details and here how it works:

Company which offers sub prime merchandise cards will approves anyone with a pulse (literally) and gives a card for $2,500 to $12,500 with NO credit check and NO cosigner.

However, the card is only good for merchandise through their website or catalogs and the consumer is required to put down a deposit on whatever they purchase. After the deposit is paid, the remaining balance is financed on the card.

=> For example.

A person buys $1,000 worth of merchandise. Their deposit is $300 so they then finance $700 on their merchandise card and make payments. Sound like a scam? If you say "Yes" like most people then you're missing the point big time.

With a legitimate Sub-Prime Merchandise Card your credit line WILL be reported to at least one major credit bureau (or more). This means if you get a $5,000 card and you finance $500, on your credit report it will look like any other credit card and will do three extremely important things for you.

1) It will increase your current "High Credit Limit" by $5,000 almost overnight.

2) By carrying a small outstanding balance it will positively impact your credit report by building and showing potential lenders your credit worthiness.

3) With a good payment history you are virtually guaranteed to receive "legitimate" pre-approved credit offers in the future due to other lenders renting your name from the credit bureaus.

This technique is hard to beat for both cost and effectiveness.

Of course, the whole key is knowing exactly which cards report to the credit bureau and offer the best rates.

Get The Complete Guide From Credit Secrets Bible

Piggybacking is not used by nearly as many consumers as it should be. Although it is easy, effective, and extremely fast. Unfortunately, it's mostly used among parents and siblings while those who can really benefit stay in the dark.

How it works?

Almost every credit card or credit account will allow the primary account holder to add on (at a later date) what's known as an "Authorized User" or "Secondary Account Holder".

In most cases, when this is done, the entire account history (retroactively) gets posted to the authorized users credit report regardless of their current age or credit history!

=> For example.

If it's a credit card with a $10,000 limit which has been paid as agreed for the last 10 years, then that complete history will be posted to the authorized users' credit report. I once saw a clients' credit report who used this technique with his mother. He was only 24 at the time and he had a $15,000 Gold credit card on his report with history going back 11 years! I laughed as I thought to myself that this kid would have had to be approved when he was 13 years old for this account to be his!

As you can see, this strategy is usually only used by parents and their reaping credit wise! In fact, in recent years, due to its' effectiveness, this technique has led individuals with excellent credit scores to "rent out" authorized user accounts on one or even multiple credit cards in return for a fee!

Get The Rest Of The Tips From Credit Secrets Bible