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LEARN HOW TO START, RUN, OR GROW YOUR CREDIT REPAIR BUSINESS

5 Simple Ways to Increase a Credit Score FAST [fix bad credit in 2021]

By: Daniel Rosen December 08, 2020

Who wants an 800+ credit score?! 

We all do, right? 

But is it really possible? 

Only roughly one percent of the population has perfect credit - which is a score of 850 based on a scale of 300 - 850. 

So how did they do it? 

Today I’ll walk you through step by step what it takes to increase your credit score FAST and even join the top 1%.

 


What Do Folks With a High Credit Score Have In Common?

  • Between four and six credit cards which are revolving accounts
  • At least one installment line - like a mortgage or auto loan that’s in good standing
  • Around 30 years of credit use
  • No late payments or other serious account errors for at least the past seven years
  • Very few credit inquiries. No more than 3 in a six-month period
  • No derogatory notations such as collections, bankruptcies, liens, judgment, etc. 
  • Debt levels on credit accounts of less than 30% of their overall credit limit

Clearly it takes time to achieve perfection. However, the point I really want to make is, yes, it’s possible, but NO it’s not necessary. 

Anything above a 700 is going to significantly help you or your clients qualify for the life you want - everything else is icing on the cake. 

Now, when you’re a Credit Hero, using Credit Repair Cloud as the software running your profitable credit repair business, I want to remind you that when you’re coaching your clients - you don’t sell credit scores! 

What you can do is educate your clients on the best practices and work on their behalf to correct any errors or issues on their credit report and as a result, the score will naturally increase. 

And finally, if you’re somebody that wants to be in the top 1% or you have a client with that goal - go for it! 

All the principles that I’m going to share apply whether you’re trying to increase from a 300 to 500 or 500 to 800… so take what I’m gonna go over today and apply it to yourself and all your clients no matter where they are on their credit journey! 

How to Increase a Credit Score FAST

Coaching your clients to a higher credit score can have a major impact on their life as you help them understand their habits and change any that are getting in the way of the life they want. 

  • The trick to increasing a credit score is understanding the importance of keeping spending under control (I don’t even use credit cards because I was so addicted to them in the past that I COULDN'T control my spending… so now I only use a debit card). 
  • Next is paying all bills on time.
  •  And finally, reserve applying for credit to the things you really want as opposed to random store cards every time somebody asks if they want to save an additional 10% today by applying for a -fill in the blank- card! 

It’s really that simple!

Why This Is Important

  1. As you’re coaching your clients and they begin seeing results, they’ll be so grateful that they’ll turn from a paying customer to a raving fan! That means they’ll refer people to you and your business will grow!
  2. And you’ll never have to worry about competition poaching them because they’ll be loyal for life!
  3. One of the best ways to establish instant credibility is through increased credit scores or testimonials from clients. Now maybe that’s not an 850 - but maybe it is!

5 Simple Ways To Increase Your Credit Score FAST

There are 5 simple ways you can increase your credit score, then turn around and coach your clients to a higher credit score too:

  1. See what everyone’s saying: Three major credit-reporting agencies are keeping tabs on what you do with your credit and finances. At least once a year (and a few months before entering into a major loan), review your credit reports from Equifax, Experian, and TransUnion. You’re entitled to one free copy from each bureau once a year and more under certain circumstances. 
  2. Fix all typos and errors: Since your credit record spans almost a decade of your borrowing activity, it makes sense that errors sometimes turn up. A recent study showed that 79% of all credit reports contain errors. Some common credit-reporting errors include out-of-date addresses, closed accounts being shown as open, credit lines not reported at the correct amount and wrong information.
  3. Change your ways, immediately: Self-inflicted credit wounds (such as a history of late payments, defaults, and irresponsible behavior in general) will fade from your record over time. Since the most recent behavior on your reports carries more weight than old news, vow that from this day forward you will be a financially upright citizen, and over time your score will grow. 
  4. Remember that your credit card is not cash. It represents money you do not have: Even though you have been approved for credit by a bank, or store to borrow thousands of dollars, you don’t actually have thousands of dollars to spend, which leads nicely to the next rule…
  5. Ignore anyone’s rules on what would be an acceptable amount of debt: Your debt to income ratio is the measure of how much debt you carry to how much money after taxes you have coming in. In the world of lending, it is acceptable to carry 25% of your income in debt. That ratio is still very high. You might want to consider trying to keep your debt including car loans to 15% or less of your after-tax income. 

It’s pretty simple isn’t it! But when you follow these principles and coach them to your clients, you can radically change your lives and a lotta lives around you! Just like our Millionaires Club Member, Derricka Harwell has. 

Derricka is the founding CEO of Beautify Credit, a massive credit repair operation she built all by herself from ground zero… and when I say ground zero, I mean she was living in her car with her two children when she started! That’s why her unstoppable success is all the more inspiring - because of everything she had to go through to get to where she is today.

Even though she's living a busy life at the very top of the credit repair industry, Derricka is very passionate about education and community work. She is also an award-winning author, and she received the Author Of The Year award for her book Beautiful Credit in the financial literacy category.

Recently she managed to fit me in for an interview on our show in spite of her busy schedule and share her journey with us. If you haven’t listened to it, after this one is over, go listen! She shares some incredible credit repair insights and you’ll learn exactly how Derricka created her multi-million dollar business from nothing! It’s pretty amazing! 

And if you’re just starting or thinking of starting your credit repair business, I want to invite you to join our upcoming Credit Hero Challenge that’s starting really soon! During just a couple weeks, we’ll hold you by the hand and take you step by step as you launch your business! It’s a highly interactive program with LIVE coaching calls, daily mentorship, and a ton of action steps, bonuses… you even get certified in three different areas! 

Go check it out at creditherochallenge.com today!

 

Be sure to subscribe on your favorite platform below!

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Topics: Podcast

Transcript

0:00  

Who wants an 850 credit score? We all do, right? But is it really possible? Only roughly 1% of the population actually has perfect credit, which is a score of 850, based on a scale of 300 to 850. So how did they do it? Well, today, I'm going to walk you through step by step, exactly what it takes to increase your credit score fast, and maybe even join the top 1%. So stick around!

 

So the big question is this, how can we take our passion for helping people with their credit, and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing so we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets.

 

So let's dive into this! How do you get an 850 credit score? Well, first, let's look at what folks with such a high credit score all have in common. They each have between four and six credit cards, which are revolving accounts, they each have at least one installment line, like a mortgage or an auto loan that's in good standing. They each have around 30 years of credit use, they each have no late payments, or any other serious account errors for at least the past seven years, they each have very few inquiries. No more than three inquiries during any six month period. They each have no derogatory notations, like collections, bankruptcies, liens, judgments, etc. And their debt levels are below 30% of their overall credit limit. Now from this list, you can easily see that this is not an overnight success. But the point I really want to make during this episode is that yes, it is possible. But no, it's not necessary to have an 850 credit score. Anything above 700 is going to significantly help you or your clients to qualify for the life they want, and anything else above that is just icing on the cake. Okay? So when you are a Credit Hero using Credit Repair Cloud as your software running your profitable credit repair business, I want to remind you that when you are coaching your clients - you don't sell credit scores, okay? Credit Score raising is not your job, okay? what your job is, is to educate your clients on the best practices and to work on their behalf to correct any errors or issues on their credit report. And if you do all that, their score will naturally increase. And finally, if you are somebody that wants to be in that top 1%, or you have a client with that goal - go for it! Because all the principles that I'm going to share, they apply whether you're trying to increase from 300 to 500, or from 500 to 800. So take what I'm going to go over today and apply it to yourself and apply it to your clients no matter where they are on the credit journey. Okay, so let's dive in. Coaching your clients to a higher credit score can have a major impact on their life, as you help them to understand their habits, and to change any habits that are getting in the way of the life that they want. See, the trick to increasing a credit score is understanding the importance of keeping your spending under control. Okay, I don't even use credit cards. And that's because I was so addicted to them in the past that I couldn't control my spending. So now I only use a debit card. Now next important is always paying all bills on time. And finally, reserve applying for credit to the things that you really want, as opposed to random store cards every time someone asks if you want to save an additional 10% today by applying for our store card. No, you don't need the store card. You don't need it. Okay. It really is that simple. Here's why this is important. As you are coaching your clients, and they begin seeing results, they are going to be so grateful that they're going to turn from a paying customer to a raving fan. And that means they're going to refer more people to you, and then your business will continue to grow. And one of the best ways to establish instant credibility is by showing your potential clients increase credit scores and testimonials from happy previous clients. Now, maybe that's not an 850. But maybe it is. So here's what you need to know. There are five simple ways that you can increase your credit score, and then turn around and coach your clients to having a higher credit score themselves. Okay, number one, see what everyone is saying. And by everyone I mean, the three major credit reporting agencies Equifax, Experian, and TransUnion. They are keeping tabs on what you do with your credit and your finances. So at least once a year, and a few months before entering into any major loan, you want to review your credit reports from Equifax, Experian, and TransUnion. Okay, you are entitled to one free report from each bureau once a year and even more under certain circumstances. Next, you want to fix all typos and errors. Since your credit record spans almost a decade of your borrowing activity, it makes sense that errors are going to sometimes turn up. A recent study showed that 79% of all credit reports contain errors. Okay, that's nearly eight out of 10 credit reports. Okay, some common credit reporting errors include out of date addresses, closed accounts being shown is open and credit lines not being reported at the correct amount, and wrong information. Next, you want to change your ways, immediately. self-inflicted credit wounds like a history of late payments, defaults or irresponsible behavior in general, that will fade from your record over time. Since the most recent behavior on your reports carries more weight than old news, you want to make a commitment that from this day forward, you are going to be a financially upright citizen. And over time your score will grow. It just will remember, your credit card is not cash. It represents money that you don't have. Even though you've been approved, you've been approved by a bank or a store to borrow thousands of dollars, you don't actually have thousands of dollars to spend, which leads nicely to the next rule. Ignore anyone's rules on what would be an acceptable amount of debt. Your debt to income ratio is the measure of how much debt you carry versus how much money after taxes you have coming in. In the world of lending, it is acceptable to carry 25% of your income in debt. But that ratio is still very high. So you might want to consider trying to keep your debt including your car loans to 15% or less of your after tax income. Pretty simple, right? But when you follow these principles and you coach them to your clients, you can radically change your lives and a whole lot of lives around you. Just like our Millionaires Club Member Derricka Harwell has. Derricka is the founding CEO of Beautify Credit, a massive credit repair operation that Derricka built all by herself from ground zero. And when I say ground zero, I mean, she was living in her car with her two kids when she started this business. And that's why her unstoppable success is all the more inspiring because of everything that Derricka had to go through to get to where she is today. Even though she's now living a very busy life at the top of the credit repair industry Derricka is very passionate about education and community work. She is also an award-winning author, and she recently received the Author of the Year Award for her book called Beautiful Credit, which is in the Financial Literacy category. Now recently, Derricka was here on my podcast, and she shared her journey with us. If you haven't already listened to it, you really should. It's amazing! So after this one is over, go listen to Derricka. She shares some incredible credit repair insights, and you'll learn exactly how Derricka created her multi-million dollar credit repair business from nothing. And it's really an amazing story. And if you're just starting, or you're thinking of starting your credit repair business, I want to invite you to join our upcoming Credit Hero Challenge. It's starting really soon. And in this challenge, I'm going to hold you by the hand and take you step by step as you launch your credit repair business. It's a highly interactive program with live coaching calls, daily mentorship, and a ton of action steps bonuses, and you even get certified in three different areas. So go check it out right now at creditherochallenge.com. And if you're finding value in the things that I'm sharing on this podcast, click below to subscribe, okay? I don't want you to miss any episodes. And if you're feeling kind, write me and give me a review because this is a new podcast and I can use all the help I can get. And I will see you on the next episode. So until then, keep changing lives! 

 

Want a fast track to creating an amazing business that helps, people changes lives, and makes you a great living in the process. Then I'd like to invite you to my free online training at creditrepaircloud.com/freetraining. In this free training, you will learn how to get clients willing to pay you even if you're just starting out, how to get easy credit repair results without being an expert, and how to get all the clients you'll ever need without paying for advertising. Again, this training is absolutely free. Just visit creditrepaircloud.com/freetraining.

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