Quick Fix – Wealth Wednesday by Ela Kitchen

Many people who consult credit advisors or credit repair specialists want to

know how to quickly raise their credit scores fast.  While most professionals

will advise their clients that credit repair takes time, there are a few strategies

to raise scores faster.

1.  Run and review your credit reports. Just one mistake on your credit report can lower your score dramatically and fast. Fixing it can yield nearly instant improvement.  Find and fix incorrect items, credit limits, late payments, or collection items.  This is where a credit repair professional can really be of value and help as they are keenly familiar with credit agencies and how they work.

1. Keep all credit card balances under 30% of your credit limit.  This may be very tough for consumers in today’s credit-reduced environment, with increases inflation of consumer goods and reduced credit as a result of the housing bubble burst. This may not work for everyone, but is definitely a guide for those looking to increase their credit scores quickly however.

1. Use balance transfers to lower credit utilized if necessary.  There are so many credit card offers for balance transfers and ZERO percent financing for X Months.  Instead of just shredding the offers, take a look and find which one(s) work best for you.  The savings you receive may allow you to pay down your debt faster, thus raising your credit scores as well.

1. Use automatic bill pay to ensure your bills are always paid on time.  When your creditor offers you a chance to set-up automatic bill pay, you might want to take them up on it.  IT takes the burden off of you to remember to mail a payment or login to a website to make the payment.  It ensures timely payments, and no derogatory items for those accounts…provided you have the money to make the payments.

1. Don’t close unused credit card accounts.  As tempting as it might be to eliminate ways to have your identity stolen, don’t close your credit accounts that you pay off.  Those accounts offer score improvement.  Instead, plan to use those accounts a couple times per year and pay them off, thus showing positive use and payment of credit account on your report and how they positively affect your credit score.

Ela Kitchen – Bio

Ela is the founder and CEO of AxSys Financial Group, where she helps consumers repair their credit and mortgage situations as a certified HELP Specialist and Credit Coach.  She has worked in the Financial Service Industry for over 17 years and has a thorough knowledge of how credit really works for and against people.  Kitchen is a passionate consumer advocate whom works one-on-one with people to help improve their credit profile as well as businesses to improve their employee productivity thru financial awareness and incentives.

There is a pressing need to provide financial education to the community at large. Ela’s mission is to strengthen her community and improve the lives of consumers by offering services that promote financial literacy, home-ownership retention, and a healthy economy.

AxSys  Group, Inc.

888-453-0096 office

888-453-5177 fax

ela@axsysfinancial.com

www.axsysfinancial.com