There are 3 Key Factors to Increase Your Credit Score
THE AGE OF THE CREDIT ACCOUNT.
There is a misconception that simply adding or getting a new credit card or loan…and start making payments that your credit score will improve. Well, that is true, but not the whole truth.
The whole truth is that it typically takes at least two years of consistently making on time payments before you’ll notice major movement or spike in your credit score. So, technically you could try to get approved for a new credit card or loan, make timely payments and wait for two years or more.
But who has the time for that?
If you’re like most people, a significant increase in your credit score could change a LOT of things in your life right now, such as the ability to get approved for a vehicle, home, or whatever else you desire.
The better approach would be to simply buy an authorized user tradeline or multiple authorized user tradelines that are at least two years old or older and instantly get the benefits of a higher credit score.