Hello {first_name},
In our last email we provided you with another way you can improve your CUR (Credit Utilization Score) and with it, your credit scores. To quickly recap, one way was to pay your balances down and the next to pay more than once per month.
In this email we’ll explore one more way.
Part 2 - Ask for higher credit limits
Requesting higher limits on your existing cards can give you a better CUR. (Credit Usage Ratio) Here’s an example.
If your current limits are $10,000 and your balances total $5,000. Your CUR is 50%. If your limits are raised to $15,000 your CUR drops to 30%, a substantial boost which could improve your credit score.
Possible downsides to this are:
Without self control you could use that new limit and put yourself deeper in debt.
You could incur a “hard inquiry” which could lower your score. You can ask them if they do a “hard pull” or a “soft one”. The soft will not affect your score.
You could get turned down for the increase.
You have a better chance, but are not guaranteed, if:
You already have at least a 660+ score
You had an increase in income since you applied last.
In your next email we’ll cover another way you could increase your scores by improving your CUR.
If any of this is confusing, feel free to chat with one of our Credit Repair Specialists free of charge. Just click here and set a time that works for you.
Sincerely,
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