Thursday, 3 September 2020

How To Raise Your Credit Score During COVID-19

One of the things that many people have missed is this is the time that you need to be working on your credit repair if you have bad credit. I'm about to give you a few reasons why this is the time, why you need to be working on your bad credit, and some of the things you need to do. One of the things that are happening right now is everyone's being laid off, everyone's been working from home.

1. This Is The Prime Time For You To Be Working On Your Credit Repair Disputes

There are a few ways that you can dispute bad items on your credit report. I recommend that you do not dispute things online. And another reason that this is the time for you to begin working on your credit repair is that there are many people who will have bad credit in the future. Right now we have a situation where we have a ticking eviction time bomb. These are people who are laid off or must behind upon their rent. And this is one of the worst things you can have on your credit and it will dog you for years. So this is another time for you to be working on your credit repair because the number of people who will be doing credit repair in the future will be staggering, we currently have 50 million people who are unemployed. With that, there will be millions who are going to develop bad credit. And these people will be coming here to roadtosuccess, they will find this article, and it's going to be a credit repair madhouse. 

2. It Doesn't Matter If You Pay Old Bills

One of the things you have to understand about repairing your credit is it doesn't matter if you pay old bills. You see, this is how the credit scoring model works. It is a predictive analysis of how likely you are to develop bad credit in the future. Let's say you go ahead and you experience a layoff. Let's say you've experienced six months where you weren't working and all your credit went bad. And let's say you found the job in the future, and you wanted to go back and pay off all of these old debts. Even if you pay off these old debts once they've gone bad, that will do absolutely nothing to raise your credit score. The credit score predictive analysis is based upon what you will do in the future. Well, part of what you're currently doing, paying your credit card bills on time is part of the credit mix. But going back and paying old collections, and old bills will do nothing to raise your credit score.

3. Add New Credit

Now, during your credit repair journey, one of the things that you who have to do to raise your credit score is added new credit. This is a very important part of the credit repair process. Because you can see your score go up by getting certain derogatory items off of your credit report, but where you're going to really see the large jump in credit point is the addition of new credit. And we're going to give you a few scenarios that you can do because if you're in the position where you can get the capital one secured card where many times they won't even require deposit this is the best secure credit cards you can get, and then after that will be the Discover credit card. Where after eight months they will look at you and unsecured card. 

4. Get Two To Three Secured Credit Cards

One of the things that I recommend that you do is get two to three secured credit cards, and don't use them. Barely used them like, if you got a credit limit of $1,500, charged up maybe $50 per month then instantly pay it off. See, these credit building cards are not designed for use. They're designed to establish or re-establish your credit. So you're not going to be using these cards very heavily essentially, they want to show future creditors that you can handle credit not get in trouble, and pay your bills on time that is the only purpose for these secured credit cards. You don't want to do any of that other stuff. Now, there are many of you who are in a position where you don't have a job. You don't have any income. You have no money. I would still suggest that you start part of your credit repair journey by disputing items on your credit report. Get the ball rock rolling because also, some of the things that you need to know are that many of these secured credit cards some of the better-secured credit cards will not give you a secured credit card if you have a lot of derogatory items on your credit report. They will not. I think SunTrust Bank and Bank of America you can have a few derogatory items, but if you've got multiple derogatory, they're not going to give you a credit card.

The better credit cards. Bank of America is a secure credit card that converts. SunTrust is a secured credit card that converts. There are some credit unions out there that have secured credit cards that convert. Now, what does that mean? That means that you can get this credit card, put down a deposit, and at some point in the future, the credit issuer will look at this credit card account, and go, oh, you've been a good boy, you've been a good girl, we're gonna give you your security card back, but we're gonna leave this card open as an unsecured card. Now, why is this important? typically, when you're repairing you beginning your credit repair journey, the first cards you get will be established to the record of being your oldest credit card, and age is a factor in the credit score mix. So this is one of the reasons that you want your first card, it's because a there's a bunch of garbage credit cards out there that will start you off with a $200 to $300 limit, the limit will never go up, and the only way that you can get your security deposit back is to close the account. Which reflects on the overall age of your credit score and report.

So one of the things that you want to do is to put yourself in a position where you can get the better-secured credit cards. Because once again, if you get these credit cards there are a lot of them that have weird names, they're just designed to milk you for fees. There's a fee for having a credit card. There is a monthly fee for this. And a lot of times they will like to charge you $250 in fees after you've sent them your deposit. And when you're $250 limit, which now means that you have a $250 balance that you got to start paying on or they're going to report back credit marks to the credit bureau.

5. Find Someone To add You As An Authorized User On Their Oldest Credit Card Account

If you're unemployed, and if you don't have any money, this is why you need to start your credit repair journey. The credit repair journey is comprised of two parts.

  • Going Ahead And Getting As Much Derogatory Information Off Of Your Credit Report As Possible
  • Adding Three To Five New Tradelines 

I'm about to give you a simple method for getting a trade line that you will need some existence from maybe your mom, your dad, or a close friend.

If you have someone that you know who has really good credit, approach them with this proposition. 

  • Hey John, or, hey Sally, I want you to add me as an authorized user on your oldest credit card account. Now here's the good news. You don't have to give me the credit card. I don't even want to use it. I just want you to go ahead, and open up this credit card account for me, and keep it. Never ever give it to me. I don't want to use it. It's just I need the account open so after about 30 to 60 days. It will reflect on my credit report as a new tradeline. And there's no harm, or danger because I'm never ever going to actually have the credit card. So there's no change, there's no danger to your credit report, I'm not going to abuse it because I don't even want the card. I just want you to do me this favor.

Go ahead and explain to them how it works because this is a good way for you to get 50 to 100 points just like that. This is a really valuable method for you to help increase your credit score. Once again, whoever's going to do this for you, explain that you don't need the credit card. They're not going to ever have to worry about you doing anything funky with their credit, because you don't even need the credit card in your possession for this to work. That's just how powerful this methodology is. So if you're a person who was in the situation where you don't have a job, you have any money, this is still the time for you to go ahead and start repairing your credit.


Like I said, this is time for you to start your credit repairing journey. Hopefully, you got some value out of this.

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