What is the fastest way to rebuild your credit or increase your credit score.

The fastest way to rebuild your credit score or increase it after a BK, foreclosure, deed in lieu of or a short sale is to get a credit card most likely it will have to be a secured credit card. If you happen to be a person without any credit this will work also.

A credit card is considered revolving debt not installment debt like an auto loan, secured or unsecured loan. These loans you have to pay back with a specific term &  monthly payments. When you add an installment loan to your credit report usually you score will not increase. When you add a credit card to your credit report your score will increase, sometimes by as much as 40-60 points for one card. I always recommend getting 2-3 credit cards, this will help you build your credit portfolio and keep the score increasing. You do not want to put anymore than 20% of the actual credit limit on the credit card. If you go over 20% you will actually see your credit score start lowering. You can sign up for Experian Boost. This could also help increase your credit score. You do not have to spend money on a credit repair specialist 99% of the time. I have created a video to help understand how to increase your credit score. https://youtu.be/FgTTjAvJ0zc?si=QEDTpz7PgBU6i5l3