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How to Boost Your Credit Score and Get on Track Financially

Whether you have just graduated from high school and have not yet started your credit or have poor credit, boosting your credit rating can get you on the right track financially. A high credit score will ensure that the best products are offered to you at the lowest cost. 

Here are Some Ways to Boost Your Credit

Keep Your Credit Utilization Low

The first thing you need to do is to keep your credit utilization low. Having a low credit utilization will increase your credit score. This means that you are not relying on loans or credit cards, and only using a small portion of your available credit.

A good rule of thumb is to keep your credit utilization under 25%. Since credit utilization is the percentage of your credit limit used, one tip is to increase your credit limit.

One way to do this is to get a cash secured credit card, which is secured by the cash in your savings account. For example, if you have $700 in your savings account then that will be your credit limit. People with low credit can also get a cash secured credit card. This will work by making timely payments to boost your credit.

Check (and Fix) Your Credit Report

Credit agencies score you on the basis of your credit report; this is basically a record of your information and credit history. Needless to say, any mistake on your credit report can directly impact your credit score. Be sure to regularly check your report and if you do find any errors, call your credit agency immediately.

Register on the Electoral Roll

Another way of boosting credit is to simply register on the electoral roll. Lenders will view your profile favorably since it is easy for credit agencies to verify who you are and where you live. You can check online on how to register for the electoral roll.

Get Your Name on Utility Bills

If you pay back utility bills, such as phone or electricity bills, on time then this will also increase your credit score. However, make sure that the utility bill is in your name so that you can take advantage of this.

If you are sharing a house or living with your parents, register to pay a few bills under your name. Otherwise, someone else will take advantage of the credit when if you paid on time.

Space Out Your Loan Applications

Applying for credit too often can negatively impact your credit score. When this is done, lenders are left to believe you are desperate. Most of the time, when you apply for credit, the lender will do a hard search on your credit report, reducing your credit score. So, limit your credit applications to one every two or three months, or longer if possible.

payday loan application form

Get Fast Payday Loans

Boosting your credit takes time and effort, but if you really need an urgent short-term loan and have bad credit, a payday loan is a viable option. Payday loans are an advance on your salary that you are expected to pay back when you get your paycheck, which can be 2 weeks or a month.

If you live in Kentucky, check out for your payday loan needs. To qualify for a Kentucky payday loan, you need to be employed, have a state ID, and an active bank account. If you already have a loan, know that you can only have 2 loans worth $500 outstanding at one time.

Benefits of Online Payday Loans:

Easy access and fast payment

Payday loans near me are easy to acquire and guarantee cash payment the very same day. With Fast Payday Loans of Kentucky, the process is very easy and takes about half an hour. After you fill out an online application and your loan has been approved, the cash will be promptly transferred to your account.

There are no complicated requirements or extensive paperwork to be completed, and you can expect to get between $100 to $500.

No Credit checks

Discharged bankruptcy, charge-offs, bounced checks, and other credit issues will not affect your ability to get a payday loan. At Fast Payday Loans of Kentucky, credit checks are not required and no credit history is accepted as well. Also, all types of incomes are acceptable for this type of loan.

No need for collateral

Another benefit of payday loans is that they are unsecured, meaning they do not require any collateral.

How to Acquire Fast Payday Loans Online

In order to get a fast payday loan, you can either visit a store or you can simply search for it online. Here are the steps to getting payday loans near me:

  • If you live in Kentucky, visit
  • Fill out the online form
  • Once you have applied, a representative will call you and ask you to visit a location near you
  • You will have to bring your driver’s license or state ID, your latest salary slip, and a blank check from your bank account
  • The representative will check your documents and let you know the loan amount you are eligible for
  • Once it has been approved you will get the amount deposited in your account the same day
  • The whole process should be finished in under 30 minutes.

Boosting your credit can be done with any of the ways mentioned above, or all of them in combination. Be patient. Getting your credit where you need is a process. In the meantime, if you need cash, but do not want to use your credit, a payday loan can work.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.