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Utilization of your credit cards, makes up 30% of your overall credit score. This is why it is always important to keep those utilization ratios low. We have found this method of lowering the utilization ratio one of the easiest and fastest methods available to elevate your credit scores.

It’s quite simple, increasing your credit limit will lower your utilization ratio. Most people don’t realize you can increase limits of your credit cards just by asking their credit card companies. There are two easy ways to get this done.

First you can call up the toll free number on the back of the credit card once connected to a friendly rep, just say this “I am considering transferring my balance from this credit card to another credit card with a higher limit, unless you are able to raise the credit limit.”

This works quite often if you have an established relationship with the credit card company. This technique is more successful if the utilization of the current card is low, because the existing credit card company will view the client as a lower risk.

The second way is even easier and can be done any time. Most credit card companies will allow you to ask for a credit limit increase right from your online account. This is quick and easy, and many times you get a response right away.

This tactic of raising credit limits has consistently proven to raise credit scores almost instantaneously by lowering the utilization ratios.

For this and more Credit Coaching tips, call to talk to one of our Credit Analysts today for your free credit consulation.