how fast can you build credit?

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    KikoffKikoff
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    #1069
    KikoffKikoff
    Keymaster

    While there are no quick fixes to improve your credit, there are a few habits that can make a big impact on your score. These are five tips that can help you build credit faster.

    1. Make sure to pay off all credit debts on time. This accounts for 35% of your total score, and missing a payment may have a large impact. 
    2. Keep your credit utilization low. Using less than 30% of your total credit limit is recommended; the lower the better. 
    3. Request a credit limit increase. Increasing your total credit limit makes it easier to maintain a low utilization rate. Avoid the temptation to spend more money because your limit is higher. 
    4. Consider a Credit Builder loan. For this kind of loan, you pay a bank or credit union a lower amount (typically between $300 and $1,000), which is stored in a separate account. You then pay off the “loan” over 6 -24 months, after which you’ll receive your full deposit. This is a great way to show consistent on-time payments.
    5. Review your credit report and look for any incorrect information. You may dispute incorrect information that may be harming your score on your report.

    Kikoff is another tool you can use to build credit faster. Our Credit builder plans start at $5 a month and can help you build credit when you pay on time. You can also set these up with Autopay, so you can build credit in the background. Our Premium users can also build credit by reporting the rent they already pay. You can sign up in minutes and cancel anytime. We also have no credit checks, no hidden fees, and no interest.

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The information provided in this blog post is meant for informational purposes only and does not constitute financial advice. Kikoff Inc. is a financial technology company and not a bank. The Kikoff Secured Credit Card is issued by Coastal Community Bank, Member FDIC. Terms and conditions apply & individual results may vary. Make consistent on-time payments to maximize credit building potential.  Credit factors outside Kikoff, like other account balances or delinquencies, can have an impact on credit building progress.  Subject to approval via identity verifications and subject to terms and conditions. Kikoff Credit Account reported line of credit intended exclusively for credit building purposes & can be used to finance the purchase of monthly Credit Service plans and/or digital educational material via the Kikoff Store. For more information, visit our Terms and Conditions and Privacy Policy. We report to the major credit bureaus: Equifax, Experian, and TransUnion. Features, tradelines, bureau reporting, & pricing may vary depending on plan purchased. This post may contain marketing messages and advertisements in compliance with the CAN-SPAM Act. Please refer to our Secured Card and Credit Account Terms for detailed product disclaimers.

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