How to Rebuild After Bankruptcy: Part 6
After filing for bankruptcy, people dream of just having a good credit score again. But if you work hard and are responsible with your money, it’s entirely possible to have a great score again. Once you’ve built a strong credit foundation, a smart way to turn your score from good to great is by improving your utilization ratio. This means you want to have access to a lot of credit, but you don’t want to be using all of that credit. For example, imagine you have $10,000 in credit across five different cards, and you’re using $5,000 of that credit. That’s a ratio of 50%, and that’s not a good number. Your credit score will suffer. However, if you can double your limit to $20,000 and only use $5,000 in credit, that’s a ratio of 25%. Credit companies like that ratio much better, and you’ll see your score improve. What’s the best way to increase your credit limit? Just ask! You can contact your credit card company and ask for an increase on your credit limits every six months. If you’ve been responsible and paid your bills on time, they’ll often say yes. How to Increase Your Credit Limit 1. Call the phone number on the back of your card and ask to speak with someone in the “risk
portfolio department” or a “credit analyst.” While you can request credit increases online or through automated systems, credit experts agree that it’s better to speak with a real person and build a rapport with them. 2. Give them a reason to give you an increase. Maybe you want to invest in your business or you’ve been getting offers from other companies, but you’d rather keep using your existing card with them. This shows the credit card company that you aren’t asking for an increase “just because.” 3. Request a reasonable increase. If they ask you how much you want, be smart about negotiating. Don’t ask for too little, but don’t ask for too much either. Request no more than double your current credit limit. It may take some time to increase your credit limit, especially if you only have a $500 limit right now. But with time, if you stay on top of your credit and create a strong track record showing you can handle more, that $500 can grow to $1000, $2000, $5000, and even $10,000. And if you keep your spending low the whole time, your score will increase too.
Sky’s the (Credit) Limit
Juicy Lucy Sliders
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The Juicy Lucy is a burger with cheese hiding in the patty, and it is a staple in Minnesota. We think it should be a Fourth of July favorite nationwide.
Ingredients:
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2 lbs. ground chuck beef, 20% lean 8 slices melting cheese (like American, Swiss, Muenster, or cheddar)
4. Fill indention with cheese and pinch meat around to seal. Then gently form balls into 3/4-inch-thick patties. Season patties.
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16 small potato rolls, toasted Salt and pepper, to taste
Your favorite burger accompaniments
5. Meanwhile, heat a cast-iron skillet to medium-high.
Directions:
6. Lightly coat skillet with oil and cook patties in batches. Brown one side undisturbed, about 3 minutes. Carefully flip and cook until desired doneness, about 3 minutes for medium.
BARBEQUE CAMPFIRE CAMPING FIREWORK
HOT INDEPENDENCE JULY
SUMMER SUN SWIMMING TANNING UFO VOLLEYBALL WATERMELON
1. Divide beef into 16 evenly sized balls.
2. Rip cheese into roughly equal pieces, creating 16 equal portions.
LEMONADE OUTDOORS
FISHING FRIENDS HIKING
7. Serve on toasted potato rolls with your favorite accompaniments.
SANDALS SKEWERS
3. Using your index finger, create a small indentation in each ball.
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