How you can potentially boost your credit score by up to 20 points!

Wealth Building Tip of the Day:

Hello! I want to share some valuable information with you to help you in achieving your financial dreams.

This year, a “new” type of credit scoring system is being rolled out to give you an alternative way to increase your credit score.

It’s called the Ultra FICO score. According to those offering this alternative scoring system, you can potentially increase your credit score up to 20 points by using this option!

This can make possibly a major difference for you if your score is poor or low.

Or if you’re on the brink of the next credit scoring category (for example, if your score is “fair” at 669, 20 points would boost your score into the “good” category).

Here, I talk about the new criteria that’s being used for the Ultra FICO Score.

Of course, there are several things that need to be in place for your score to be positively affected by using this alternative scoring system. Click here for the details.

Plus, it’s still being rolled out; however, you can sign up to be updated when this option is available at

Just like with all things, there are benefits and disadvantages. You’ll want to weigh out using the regular FICO score against this option to determine what will help boost your credit score more, along with the increased risk that often comes with more of your financial data being shared and transmitted.

However, this could be a very useful option for you if your borrowing history has been less than stellar.

Put Those Fees Back into Your Pocket (Where They Belong)


Financial Tip of the Day   

One area where we can end up spending a nice chunk of change each month is with banking. More specifically, bank fees. Most of us have accounts where fees can be (and are) assessed each month that we don't maintain certain minimums or other requirements.

For instance, I have more than one checking account. I use one of them for smaller bills, and another for larger ones (like rent). Each account has fees that are assessed each month if I don't meet certain criteria. However, the criteria are different for each account.

One account requires that I maintain a minimum balance, or a fee is charged. A way for me to avoid the fee is by setting up monthly direct deposits of a certain amount or higher. Another account charges a fee unless I perform a certain number of debit transactions, or transfer a certain amount of money into the account each month.

The trick is, you want to look at your bank statement to see how you can AVOID the fee. With a little pre-planning and by taking a couple of steps, you can avoid being charged the fee altogether.

Just think about it. Those fees may seem small, but they're taking a sizeable amount of money from you over time.  Multiply your bank fee by 12 months, and you have a nice sum of money that you could be spending, saving or investing elsewhere.

So, if you’ve been getting charged a bank fee each month, set aside a couple of minutes to review your statement (which is a money habit you want to practice anyway to make sure all activity looks right) and find out what steps you need to take immediately to keep from being charged the monthly fee.

It will be probably one of the quickest and simplest things you do all month to put some savings back into your pocket. The banks are doing fine. YOU need your money in your pocket. And isn’t that where you’d prefer it to be anyway? I know I do.

P.S. - Never miss the tip of the day. Subscribe here!