Q&A: What is the fastest way to raise your credit score?

Question by thetravelingmartins: What is the fastest way to raise your credit score?
My husband and I hit a financial hard spot about a year ago. Since then we have worked hard to catch up on all our bills and pay them on time. We would like to buy a house in about 3 years. (We own a condo at the moment) Would 3 years be long enough to raise our credit scores? Other than paying our bills and paying off some of the balances that we owe is there another way to raise our credit scores? We plan on keeping our credit cards once we get them paid off because we were told that as long as we charge something once a month and then pay that off every month it will help with our credit score. Any other advice?

Best answer:

Answer by jgrantspecial
One good thing you can do is go to the bank and open a savings acct with $ 100-200. Then go to the loan officer and ask for a loan with a min. payment period of 1 year for the min loan amount. Tell them to put the loan money into your savings then freeze the money plus 2 payments of your savings. They will not turn down anyone for a loan this way. Then make double payments on time or early, but never late. Do this at 3 different banks and after they are all paid off you’ll have much better credit and 3 credit referrals.

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