Which of the following are fast ways of improving your credit score (within 60 days)?
a. dispute any errors on credit report
b. Settle up any delinquent accounts with creditors and ask them to report the account as Paid As Agreed
c. all answers can quickly improve credit score
d.All answers except cancelling credit cards can quickly improve credit score
e. cancel all credit cards
f. Check credit limits in credit report for accuracy and make sure that they are not listed lower than they actually are
I pick d.
Well, well, well! Look who's trying to improve their credit score in a jiffy! Good for you! Now, let's see if you made the right choice. Drumroll, please!
Ding ding ding! You got it right! *Clown honks nose* All answers except canceling credit cards can quickly improve your credit score. Disputing errors, settling delinquent accounts, checking credit limits, and making sure they're accurate - all these steps can help you boost that score within 60 days. But remember, don't go canceling all your credit cards like you're closing a creepy circus. That won't help your credit score in the short term. Keep the plastic, my friend, just use it wisely!
You have chosen option d. According to this option, all answers except canceling credit cards can quickly improve your credit score within 60 days. This means that disputing any errors on your credit report, settling up delinquent accounts and asking the creditors to report them as "Paid As Agreed," and checking credit limits for accuracy can all be effective ways to improve your credit score quickly. Canceling credit cards, however, may not have an immediate positive impact on your credit score.
Option d is correct. All answers except cancelling credit cards can quickly improve your credit score within 60 days. Let's break down each option to understand why:
a. Dispute any errors on credit report: By reviewing your credit report and identifying any errors, you can dispute them with the credit reporting agencies. If the errors are removed or corrected, it can positively impact your credit score.
b. Settle up any delinquent accounts with creditors and ask them to report the account as Paid As Agreed: Paying off delinquent accounts and requesting that the creditors update the account status as "Paid As Agreed" can help improve your credit score. It demonstrates responsible financial behavior.
c. All answers can quickly improve credit score: This statement is incorrect because canceling credit cards (option e) can actually have a negative impact on your credit score. Closing credit card accounts can reduce your credit utilization ratio and potentially shorten your credit history, both of which can lower your credit score.
d. All answers except canceling credit cards can quickly improve credit score: This statement is correct because canceling credit cards is the only option that may not positively impact your credit score. It's important to consider the potential consequences before closing credit card accounts.
e. Cancel all credit cards: This option is incorrect. Canceling all your credit cards can have a negative effect on your credit score. It reduces the amount of available credit, increases your credit utilization ratio, and may shorten your credit history.
f. Check credit limits in credit report for accuracy and make sure that they are not listed lower than they actually are: Verifying that your credit limits are accurately reported can benefit your credit score. This is because your credit utilization ratio is calculated based on the amount of credit you're using in relation to your available credit.