IFC ACADEMY CREDIT BOOST GUIDE
CREDIT ENHANCEMENT GUIDE
(All Links are clickable)
Begin building by following these simple steps, which will enhance your credit score within 45-60 days. Please understand that this works best if your credit health is not completely ruined. This is very simple and takes a few simple steps.
Many consumers do not know that 85% of your credit score is solely based on how you manage the account on your credit reports. The other 15% is based on how long you have had credit, which is your credit age.
Breakdown of your report:
35% = Paying Your Bills On Time
30% = Your Credit Card Utilization
15% = How Long You Had Credit
10% = Types of Credit
10% = Inquiries.
So, if you’re trying to guarantee that your credit score improves within 60 days or less, we need to add positive credit history with the largest limits as possible!
This guide will assist with boosting your credit, and the great part is, approval is guaranteed. Yup! You will be automatically approved regardless of your credit past.
This guide includes 2 merchant cards. These cards work like secured cards but the limits are much larger. This will help your credit score faster than your traditional secured card.
When using a secured card, you provide the bank with a deposit and they will give you a card with the exact limit that you deposited. For example, if you deposit $500, you will get a $500 limit on your card.
On the flip side, the mentioned merchant cards will help you more. You pay $99 to join and then buy an item for $99. In return, you get a $5000 limit. This scenario is much valuable than getting a traditional secured card only.
30% of your credit score is your credit utilization. Bigger limits = Bigger score increase.
Please sign up for the merchant cards first as this will give you the greatest benefits. It may be beneficial to sign up for all accounts. This will depend on your goals and/or current credit profile. If you would like to have your credit profile evaluated before signing up, Please click this link to schedule a consultation.
CREDIT ENHANCEMENT GUIDE
(All Links are clickable)
#1 RECOMMENDED MERCHANT CARD
You will obtain a 5k credit limit with a small purchase. Purchase the cheapest thing which will allow you to get the account. Once the statement comes in, pay it off in full and never use it again! It will continue to report on your credit.
#2 RECOMMENDED MERCHANT CARD
You will obtain a 5k credit limit with a small purchase. Purchase the cheapest thing which will allow you to get the account. Once the statement comes in, pay it off in full and never use it again! It will continue to report on your credit.
#1 RECOMMENDED SECURED CARD
Apply for this secured card with multiple reporting dates (Guaranteed approval and reports 6x per month)
#2 RECOMMENDED INSTALLMENT ACCOUNT
This installment account will help you save money and build credit at the same time. The Magnum 10000 account is recommended but not required.