Artificially Improving Your Credit Report

One of the ideas gaining popularity in the consumer world these days is referred to by some as “artificial credit report improvement”. This technique (or cunning trick as some would say) focuses on the things that you can do to manipulate your credit score for the better, without actually making your financial situation any better or worse.

The ethical question with regards to artificial credit report improvement is an ongoing debate between the techniques supporters and financial institutions – who say that it is almost the same as rorting the system. But regardless of what your view on artificial credit report inflation is – the fact of the matter is that it works.

So – in this article, we will be taking a look at some of the ways that you might be able to increase your credit report by using a few of these tips and tricks.

Common Ways To Artificially Raise Your Credit Score

Take a look at the following list of activities and think about how your credit report could benefit from the actions. Ultimately, these activities do not affect your credit situation whatsoever – but they will have an effect on your credit report:

  • Paying off a debt, and taking it out again elsewhere.

By paying off a current balance at one financial institution, and then approaching a different financial institution to request that same amount, you are in essence doing the following:

  • Benefiting from paying the loan off before the due date.
  • Benefiting from a new (and probably successful) credit application.

These two things could boost your credit score by 20 to 50 points alone – but as you will see; your financial situation remains unchanged.

More Ideas To Improve Your Credit Report

Here is a second idea to consider.

  • Taking out unnecessary loans and paying them off.

Let’s say that you have $10,000 in the bank. You have two options:

  • Leave the money there to earn interest.
  • Apply for a loan, and pay it off after a few weeks, using the savings as security for the loan.

Once again, you have essentially done nothing to your finances, but you are now able to benefit from a credit report entry which states that you have had finance, and paid it off before the due date!