Candy bars, take your credit score to Mars!
Simply put:
Many people don’t know the secret to boosting your credit score is in the candy bars. Buy candy bars and pay it off roughly 13-20 days later.
Simple note:
You will need to get a credit card. APY is irrelevant as is the max amount. Get a credit card that has NO annual fee to save the most money.
Simple Disclaimer:
Dependant on how your credit score looks now, you will see results over time. This will boost your score, but if you have a large amount derogatory marks or other negative annotations, it will take longer… But it WILL work.
Simple explanation:
What you do here is simple. You buy a candy bar or multiple candy bars and let them stay on your credit card for roughly 13-20 days. This time will allow whomever the company the card is through, report to the credit bureaus that you owe said money to them.
Then when you pay it off, they will report this back to the credit bureau that you paid it off.
Rinse and repeat and watch your credit score increase because you hold a balance and then you pay it off!
Simple rumor buster:
You do not need to have a balance and rack up debt to have them report a payment.
Here, an article by Experian one of the three credit bureaus, should help you bust the myth.
Obviously this is spread by credit card companies because they make money off this rumor.
The credit bureaus only care that you have a balance and pay off a balance. They DO NOT care how much!
The people who tell you that you need to have a $100 minimum purchase for it to count is a LIE. It could be $1 and as long as the credit card company reports to the credit bureau, you can pay it off and raise your credit score!
Simple warning:
Make sure when you’re doing this cycle, watch your balance into the next month! It can potentially cost you if you don’t pay the full amount, you’ll be charged the interest!
Simple Motivation:
We have personally used this to hit and stay near 800 on all three bureaus. This will work very quickly in terms of how fast a credit score can rise.
Also candy is great motivation so why not treat yourself for doing yourself a favor!
Simple example:
You go to Walmart and head to the candy isle. You go and buy a $1-$3 candy bar or bag.
You pay with your card and the wait is on. Set an alarm or calendar on when day 13 hits.
Look at the credit card site or app and see if they say you owe whatever by the statement day. Normally it’ll say minimum payment due.
Then you pay it off IN FULL!
Wait a day or so and repeat.
Simple alternatives:
The reason we recommend candy is it is cheap and a random thing to buy that doesn’t require much money or effort to get.
Good alternatives should be a reward, but no more that $6 as we are not doing this for price, rather than having a balance. Something small, preferably a reward, and the payment must sit on your credit card for a couple of weeks.
Simple conclusion:
The main takeaway is you need to be able to buy something with a credit card. Let it sit and wait for the company to report that you have a balance, which will be 13-20 days, and pay it off IN FULL! This trick will get your credit score looking like your going to buy something fierce.
We recommend keeping with it. Credit is often compared to trust (essentially the same thing but with money). Once you betray someone’s trust (default on a payment or refuse to pay) its hard to earn back. Possible, but hard to earn.
Simple Money 