Free and easy way to increase your FICO score
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Almost 1/3rd of your FICO score is calculated by your available credit percentage so it’s pretty important. It’s a percentage of how much credit you have available compared to how much you’ve used. If you have $50,000 in available credit card limits but only have a balance of $5,000, you have a 90% available credit percentage which is great. If you have a $45,000 balance on the same limits, you’re close to maxed out on your credit and have a way too low available credit of only 10%. The easiest way to improve your available credit percentage is to increase your credit limits. Your credit card companies will do this for free over the phone just by asking. They do a quick analysis of your account with them looking at how long you’ve been a card holder, your payment history, etc and will often increase your limit pretty easily. Of course paying down your debt would be the optimum financial way to have more available credit but increasing your limit will do the same thing and increase your FICO score.
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Ken Pruitt
Mobile: (760) 579-2228
DRE # 01867831 / NMLS #269737
