 After I pay off 3 credit cards should I close them or keep them open? I want to build more credit.? |
| I was unemployed for a while and wasn't able to keep up with payments so now my credit is not great. I have 2 cards that have been closed but I have been given assistance by the creditors to ... |
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 Credit Cards? How do I get my own credit card? |
| Today I found out that my credit score is 770. The reasons why my credit score is high is because my parents co signed ro me to get a car loan. I also have a credit card but my parents also have the ... |
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 How can I get rid of $30,000 in debt easiest? |
| I owe 30k and absolutely do not want to file bankruptcy. I can afford to pay $900 per month but the balance just will not go down. They will not lower my interest rate either. I am skrued?... |
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 Medical bill - What happens if i just don't pay? |
| My wife went to the emergency room. We have insurance with a high co-pay. We own a home and don't plan on buying another one any time soon. We have enough cash to pay the bill, some in my ... |
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 How do I get my name off a co-signed car loan? |
| I co-signed on a car loan right before I separated from my husband and later divorced. He has a Ford Explorer of which he hasn't made the payment on for the last 4 1/2 months. No one will allow ... |
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 Will my bad credit affect my hubby's good credit when he tries to refinance his mortage? |
| I have bad credit, My hubby has great credit. He is looking to refinance a home he purchased before he got married to me and wants us to apply for a refinance loan together, I'm scared that this ... |
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 Debt - What should I do??? |
| I am a 21 year old college student with about 9000 in credit card debt. I lost my job for a while and fell way behind on all my bills - now I have collection agencies calling me all the time and ... |
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 My daughter-in-law took out credit cards in our names but refuses to confess, what do I do? |
| I have reported to the credit card companies but it's been seven months and nothing has happened yet. I told them it was her and we have reported it to the police but I still don't know ... |
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 Why the heck?! (Credit Report question)? |
| I have had a capital one card for years now, it only has a $500 limit w/ a high intrest rate and I have NEVER been late on it. After significantly improving my credit (years of work) I applied for ... |
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 Who should I go to refinance my house if my credit score is 535.? |
| my credit is 535 my first loan is 148000 and second for 42000 and I need to pay some credit cards for 12000 my house is worth 253000 and I make about 3000 a month. Do you know of any companies or ... |
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 How to apply for a credit card? |
ok... so i have a few questions about credit card....
1. what is the difference between a visa and a master card?
2. can i apply a credit/master card if i have no job?
... |
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 What happens if I stop paying my credit card entirely? |
No BS here
We're severly in debt after my wife quit work to have our children be a stay at home mom 5 years ago. I work 2 jobs but its not enought. She has few job skils at any rate
T... |
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 If you pay of a credit card, and then get a refund, what happens? |
| So I have a credit card with a fairly high APR with a $200 balance on it. If I pay it off completely, and then end up getting that money refunded to me, what happens to my account? does it make my ... |
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 Is it illegal to charge a consumer more more if he or she would prefer to use a visa/mastercard over cash? |
I work for a company who has independent contractors that are always trying to get our customers to pay with cash vs. credit. I am wondering if this practice is illegal.
Our company ... |
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 Could my wife be affected if i file bankruptcy? |
| We don't share any credit card and checking accounts, and the propety doesn't has my name on it.... |
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 Do I need a credit card? |
| I just graduated from a graduate program. I have never had an actual credit card, just a bank account with a credit/debit card. My BF told me I needed to get a credit card to establish my credit to ... |
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 Obama now wants to go after "predatory credit card" companies? |
| because they are the ones responsible for putting Americans into debt. In my opinion, Americans' lack of personal responsibility is what is getting them into debt. Keeping up with the Jones... |
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mlosolla | How can I improve my credit score fast??? |
I checked my credit score about a month ago on freecreditreport.com and my score was 665.
This month I apply for a loan to purchase a home and because I had 2 credit cards almost max out my credit dropped to 590 (that is the score that the loan officer told me I got).
I already fixed this problem ... I paid almost half of the balances on both credit cards.
I would like to pruchase a home as soon as possible. How long should I wait to see my credit score go up???
Do I need to do something else.
Your advise is greatly appreciated. |
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bvar0234
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Hi, I would say there are a lot of things you can do. You are on the right track to paying off your debt but whatever you do, DON'T cancel your cards--part of your credit score looks at you credit limit to debt ratio.
Also one of the things you can do right now to raise your score up to 50 points is fill out the 'opt out' form. The opt out form found at this link: https://www.optoutprescreen.com/?rf=t will make sure that creditors can't pull your credit and send you offers at random without your permission. The credit beauros look at this as responsible.
I think your credit score will start to go up immediately, but don't pull your credit score again until absolutely necessary because everytime someone pulls your credit score it adds negative points to your credit report and your score will go down. I think these points stay on your credit report for 12 months. If you've had a lot of hits to check your credit score in the last year, wait a while and your credit score will go up automatically. |
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traffic816
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best way to increase it is to pay of all you debts.
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http://www.bestcreditrates.net |
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MikeRacer
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Pay them both down more and in a month it will be re-rated.....Go on http://www.equifax.com and get your score and report...it's worth a look.
DON'T APPLY for more credit or Ccards...it lowers your score!
++++++++++++++++++++++++++++ |
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mkulda
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65% of your credit score comes from your payment history and the ratio of your outstanding debt to your debt capacity (being maxxed out).
Paying down some balances will help.
So short of those two.....no matter what you do....it's not going to be that much of a drain.
You also need to be aware that what score you got off freecreditreport and the service the loan officer used may have been using different vendors and thus you weren't comparing apples to apples. |
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golferwhoworks
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Mike Racer is correct but you can also add points just by opting out with all 3 reporting agencies for any credit card offers. You know the unsolicited ones that come in the mail daily. Your score will go up just by doing that as well.You only need a 620 score with clean rent and other pay histories to buy a home now with the best rates, just so long as you can prove collateral capacity to pay with reserves and you get the score to that level at least. Other wise you can get 100% financing now in the sub-prime markets
I am a mortgage banker in Tennessee. |
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marie a
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some info for you:
Credit Score Explained
http://www.debt-loan-refinance-mortgage-credit.com/category/Credit-Score-Myths-Explained.html |
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kelly h
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Something most people don't realize is that there are 3 major credit bureaus out there, but there are hundreds of credit companies. So, when you pull your credit from freecreditreport.com, your broker pulls your credit from another credit report company. The scores are not going to be the same. A broker will send the credit he pulled to a lender and the lender will pull their own credit to make the final loan decision with those scores.
You can get 100% sub-prime or non-conforming financing with a middle score of 590.There are tons of brokers that do these loans now. Your rate may be a little higher, but if you make your payments on time, you can refinance after 5 or 6 months and get a lower rate. You can also find brokers that do FHA loans. These are not as credit driven and you can get a lower rate doing a FHA loan.
Your best bet is to call several different brokers and see what they can do for you. |
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Mariposa
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You can't make your credit score go up over night. When credit card companies retr to the credit bureau, they usually report the same amount that is on your bill, so even if you pay off part of the amount after you receive the bill (but on time before the bill is due), your usage of available credit will be high. If you want your score to go up, look at your billing statement and see when the last date of charges are listed, then pay your bill before that date before the next billing statement so that your usage looks lower. |
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New Millennium Minds
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Paying down credits cards is only one small part of the formula. NOT having them is a bigger part. Most financial people treat available credit as though you used it already, because you can. Get rid of unsecured credit and you might increase your points with the financial people, even if you do not immediately affect your credit rating. Also, even if there is some negative thing on the credit, even if it is accurate, CHALLENGE IT TODAY. If they no longer have the record, then it has to be removed. Challenge the credit report regularly. Some have a limit on how often you can challenge, but do it often. |
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INfan.
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If you can trust your parents and/or they can trust you and they have good credit, you can actually ask them to add you as an authorized user to their account. Every bit of their credit history with that credit card company will show up on your credit improving your score. Then, try for a dept. store card because they are the easiest to be approved for, just try not to run up the bill =). After your approved make small purchases each month that you know you can pay off, then pay the amount off within 5 days (the usual grace period for interest). This also improves your credit score! You can also do this with your previous cards. The key is to pay all your bills on time even the water bill, without a revolving monthly balance. |
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Obsean
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It will probably take some time.
I had bad credit from my previous marriage but got credit score by over 125 points. I had to wait over a year in order to get a good loan with a good rate to buy a house. I don't think there is a way to get it up fast. Pay your bills on time and get the credit cards down even lower and/or get rid of one altogether. Good luck. Google "how to improve credit score" |
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rawk_chawk
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An easy way to boost your score a little is to apply for a few store issued credit cards or gas station cards. Use the card once for a small purchase, pay the balance immediately and then tear the card up. It will be reported as to the credit bureaus as paid in full. Only do this a few times as if you apply for dozens of cards at once, it will drop your score. |
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