Boosting Credit Score
I understand that a way to improve your credit score is to go to a couple of banks and ask to borrow money againts a CD on deposit. Now, if I want to use this method to improve my score, how quickly shall I pay it back? Lets say 3 months, 6 month or 1 year . Thank You ............. :-D
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This will improve your score as the months reviewed on the accounts get larger. The longer the pay on the accounts the more your score should improve. I wouldn't look for a big boost at first though.
Thank You,
Is there a quicker way of doing this ?
You can always have someone add you as an Authorized User on a credit card that is in good standing. If the card has good ratios and history, this will surely increase your score.