In this video I discuss 3 companies you can utilize to boost your credit score in 2023.
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If you want to boost your credit score fast these 3 companies are great. When building credit you want to have "primary" Tradelines reporting to your Fico credit score. Having a great credit score allows you to invest at a higher rate.
1.) A company called "boom" if you're someone who pays rent, and doesn't have a mortgage this is a great company to be reported as a trade line to your credit report. Boom allows you to report up to 24 months of good payment history to Experian, Transunion, and Equifax.
Boom gives you payment history, credit age, and credit mix which accounts for 3 out of the 5 credit factors. This is a primary tradeline just as important as a credit card.
In my opinion this is the best rent reporting company because they report to all 3 credit bureaus.
2.) "Self" allows you to not only save money, but you're building credit all at the same time!
It show's up as an installment loan on your credit report, which like mentioned above is a primary tradeline. If you have a bunch of money but zero credit this is great for you to build out your credit report. Make sure to keep your payment on autopay so you don't miss your due date.
3.) "Credit Strong" This is great because out of the 3 companies mentioned above they offer you more options to build out your credit. Personally if you're looking for the biggest credit increase fast this will be your best bet. This will guarantee you results noting the fact some options accounts for 90% of your credit score.
They have a revolving credit option, instal accounts, and a CS max option.
The best part of all of the companies mentioned in this video they ALL report to Experian, Transition, & Equifax so that means you're getting the best bang for your buck. You're saving money by not having to find multiple companies that report to different bureaus.
I'm sure if you're in the situation where you have zero credit, and you go with any of these companies you will see a drastic increase in your credit score super fast.
If only I knew about these companies years ago I would have had a way better credit journey, but the good thing for you guys is you can learn from this video to jump start your credit journey(: