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Quickly increase Your Credit Score

 Here is a simple tip to a Quick Credit Score increase.

Pay your credit cards before the statement date.  This may only add a few points but if your cards show a significant drop it will make a difference.  The amount you owe on the statement date is what the credit history shows and the percentages of available credit usage calculation.

Build your Credit Fast

Scrape together as much cash as possible and pay down your cards before the statement date.  Pay the most on your cards with the Highest Percentage usage.

Overall Available Credit Usage

The overall available credit usage is an important number.  However if one of your cards is near 100% of available credit used it will have an oversize impact on your score. 

Individual Credit Card  Available Credit Usage  

I used an interest free offer on one of my credit cards.  I borrowed 100% of the available credit on that one card.  My overall credit card usage was below 25%.  I had several cards with zero balance.  This one card with 100% usage dropped my score from 790 down to 730.  I was shocked.  

If you have one card with a very high balance compared to the credit limit of the card it will draw down your credit score.

Multiple Credit Card 100% Available Credit Usage

A friend of mine accepted zero percent offers on two of his cards.  He used the money he borrowed in his business.  He now had two credit cards with 100% of available credit used.  He does have an excellent credit history.  It dropped his credit score by over 100 points.  He went from just over 800 to just under 700.  He has no missed payments, and an awesome credit history.

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