Do you want to get an 800+ credit score? You don’t have to sacrifice your life in order to do it. You just need to understand how credit scores work. <\/p>\n\n\n\n
Some of the links below are affiliate links. This means that I may receive compensation if you click on a product link. Affiliate links helps to generate revenue for the blog and support the work of Wealthy Women Daily. This compensation comes at no additional cost to you, and I only promote products that I trust.<\/em><\/p>\n\n\n\n I like to check my credit score monthly. <\/p>\n\n\n\n So, while traveling around the world<\/a> I decided to review my credit score and noticed that it was over 800<\/strong>! Woohoo! <\/p>\n\n\n\n A couple of years ago, my credit score was in the low 600s! What the what? <\/p>\n\n\n\n Say what? I know this won’t make sense for many people. The popular thought is that you have to work harder in order to increase your credit score. I believe you just have to work smarter<\/strong>. <\/p>\n\n\n\n When you know your numbers and have control over your money, anything is possible. You can choose what type of life you want to live. <\/strong><\/p>\n\n\n\n If you need to get your money in order, join the Wealthy Women Daily Net Worth Challenge FREE Facebook Group<\/a> and work with a financial coach<\/a><\/strong>. <\/p>\n\n\n\n You can also send me an email at wealthywomendaily@gmail.com<\/strong><\/span> if you need any pointers and you can also gain access to FREE money + investing tips by joining Wealthy Women Weekly<\/a>. <\/p>\n\n\n\n So, how did I increase my credit score? <\/p>\n\n\n\n These are some of the things I did: <\/p>\n\n\n\n I decided to invest in more assets instead of debt. <\/p>\n\n\n\n Now I get checks in the mail and dividend deposits in my account from various companies every 1-3 months<\/strong>! <\/p>\n\n\n\n What’s so awesome about receiving dividend income is that I earn money without adding another item to my to-do list. My money is making more money for me. Now, I have more money available to pay off any debts I owe. And paying off debts increases your credit score<\/strong>! <\/p>\n\n\n\n Grab your copy of Dividends Are a Queen’s Best Friend<\/a> to start your investing journey. If you’ve already read the book, please leave a review on Amazon so we can spread the word to more people. Appreciate you! <\/em><\/p>\n\n\n\n If you want a list of Dividend Stocks and investing strategies<\/strong> to explore every month, check out the Dividend InvestHER<\/a>. Right now, it’s less than $6 a month! WOW! You can choose a cup of coffee\/tea or learn how to increase your investment opportunities. You choose. <\/p>\n\n\n\n Banks are paying me to open up accounts<\/a>! So, I’m getting more deposits in my account just for opening a checking account and depositing a certain amount. <\/p>\n\n\n\n For example, when you open a new Chase Total Checking\u00ae<\/a> account with qualifying activities,<\/a> you can earn <\/strong>a cash bonus! And the process to open an account takes less than 5 minutes!<\/p>\n\n\n\n Read here to see how I did it!<\/a> <\/p>\n\n\n\n A list of my favorite credit cards are listed below. <\/em><\/p>\n\n\n\n Before you get a new credit card, check your credit score. Now, look at your credit grades. You’ll see five different components of your credit score and how well you’re doing in each category. Use the data you have to make smart decisions. This information will help you determine the fastest way to increase your score.<\/p>\n\n\n\n Payment History<\/strong> (35%) – Pay your bills on time. No exception. You can set up automatic bill payment and\/or have a debit card or checking account specifically for this purpose. This is the largest chunk of your credit score. <\/p>\n\n\n\n Credit Utilization<\/strong> (30%)- What’s your credit limit? How much do you owe? If you’re using a lot of credit and not paying off your balance in full each month, your credit utilization grade may be very low. I aim to not go over 10% of my credit utilization rate. So, I try to pay my credit card bills at least twice a week to get my credit utilization rate good.<\/p>\n\n\n\n Length of Credit History <\/strong>(15%) – How long have you been in the credit game? Believe it or not, you are graded on this! So if you start closing accounts all at once, this could damage your credit. <\/p>\n\n\n\n Credit Mix <\/strong>(10%) – This is a vague category to me. This category is about your ability to handle different categories of debt. FICO believes that borrowers with a mix of different types of credit (installment loans, revolving credit, etc.) are more likely to be responsible borrowers. Very interesting! <\/p>\n\n\n\n New Credit<\/strong> (10%) – Getting new credit cards could be a boost to your score if you know how the game works. But if you open multiple cards at once, that could be a sign of financial trouble and can hurt your score. This category is all about timing and how you’ve managed previous debts. It’s about getting the right credit cards at the right time! <\/p>\n\n\n\n Read my post published on Black Enterprise here<\/a> to find out more about credit scores. <\/p>\n\n\n\n This was the best credit card for me to use while I was traveling around the world. If travel plans are in your future, this is a great card to have by your side.<\/p>\n\n\n\n Say bye, bye to foreign transaction fees<\/strong> and enjoy the amazing rewards points<\/strong> that this card provides. When you sign up for this card, you’ll get 60,000 bonus points<\/strong> when you meet the requirements. Check it out here<\/a> and support the blog by using our referral link<\/a>. <\/p>\n\n\n\n The annual fee for the Chase Sapphire Card is only $95 and rewards should cover the cost of it over a year. I used this card to travel to 7 countries<\/span><\/strong> in 2019 and was able to maintain my #debtfree<\/strong> status while saving tons of money. <\/p>\n\n\n\n Credit cards can either increase or decrease net worth. I use my credit cards to boost my net worth and enjoy the cash rewards to fund my lifestyle. <\/p>\n\n\n\n One habit of people with an 800+ credit score<\/a> is that they typically pay off their credit card bills in full every month. This allows them to fully enjoy all the rewards points that credit cards offer.<\/em><\/p>\n\n\n\n This credit card is for customers with excellent credit. Support the blog and use our referral link here<\/a>. <\/p>\n\n\n\n Before getting a credit card, you want to understand where you stand in the credit world. <\/strong>You can go to AnnualCreditReport.com<\/strong> to get free credit reports from Equifax<\/strong>, Experian<\/strong>, and TransUnion<\/strong>. <\/p>\n\n\n\n I have more tips to add to this list but I’m strategizing and trying to get more gift cards using my Fetch Rewards<\/a>. This is so fun! All I have to do is scan my grocery receipts. If you want to join me on this journey, just use my referral code, WVWBW, during signup and you’ll get 2,000 Fetch Points just for starting. Download here: https:\/\/fetchrewards.onelink.me\/vvv3\/referralsocial?code=WVWBW<\/a><\/p>\n\n\n\n I’m aiming to continue sharing money tips and travel hacks so that others can know what’s possible and never have to feel stuck. <\/p>\n\n\n\nSo how did I increase my credit score? <\/strong><\/h3>\n\n\n\n
Resources to Help You Get 800+ Credit Score <\/strong><\/h3>\n\n\n\n
1. Invest in dividend-paying stocks<\/a>. <\/h3>\n\n\n\n
2. I received checking account rewards<\/a> to assist with my 800+ credit score goals. <\/h3>\n\n\n\n
3. I got new credit cards<\/a> and paid off old debts which can help you reach the coveted 800+. <\/h3>\n\n\n\n
4. Understand the 5 components of the FICO Credit Score. <\/h3>\n\n\n\n
My Favorite Credit Cards <\/h3>\n\n\n\n
Chase Sapphire Preferred<\/span><\/span> <\/a><\/h4>\n\n\n\n
Capital One SavorOne Rewards Card<\/a><\/h4>\n\n\n\n
Here is why I love my Capital One SavorOne rewards<\/a> card:<\/strong><\/h4>\n\n\n\n
More Tips <\/h3>\n\n\n\n