SPIFIMAN1
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Wrong.
The only way paying extra will raise your score is if it lowers your debt to credit ratio below 30%. This makes up a full 30% of your credit score. |
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seocontest
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to incress your credit score you need to have your balance below 30% of you limit IE if your limit is 1000 and your balence is 299 your score will rise so if you make 2 payments a month when you get you balance below 30% yoiur score will rise |
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John C
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Stop smoking crack
The only thing that increases your credit score is on-time payments. |
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bettyrubleinspurs
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If it were true you'd be hearing about it all over the news and people's credit scores would be soaring. I'd tend not to believe it. |
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Wayne Z
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Nope...never heard that one before. |
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RUNINTLKT
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Yeah..that doesn't sound right.
FICO Score is based on a bunch of crap anyway..and one of the factors used to determine your score..is not your income. Can you believe that? |
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abizzell4hire
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It all depends on where your credit is now, what's on there, etc. If you have poor credit or really good credit, paying extra on one credit card won't help that much.
It will, however, save you money in interest charges. |
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girlinlove
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im not sure about that. but i can email you something from Center State Bank here in Florida, that tells you how to raise your score 100 points in 45 days! I will email that to you if you'd like. Drop me a message and let me know where to go. |
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pbonck
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I doubt it seriously, since your score is averaged around allot of different values. Time on job, time at residence, payment history etc. |
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Ask M
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I doubt it, since it was a Seminar, did she back it up anyway?
Never heard of it. I make a payment to my credit card
every week, whatever extra I have and I haven't seen
my report change and it has been a year. |
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delosheli
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No it wont. But if your payments are bigger the intrest will be lower. I have to spend another 2,000.00 to get a few extra points so I can get a flat screen tv. But bigger payments will make you look great to the company you have ur card through. |
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OC1999
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No. If that was true someone could go from a 350(minimum) to 850(maximum) score in about 2 years. That is NOT going to happen. While payment history is the biggest factor, it is not the only factor. There is no set number of points any single action will raise or lower your score.
Payment History - 35%
Amounts Owed - 30%
Length of History - 15%
New Credit - 10%
Types of Credit - 10%
You should look over the myfico.com site. This is the company that does the FICO score and goes into a lot of details on credit scoring |
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Cyndee
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I dont think so |
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Tracey LA
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It raises your score (what that exact number is, I do not know for certain).
If you keep your credit card balances BELOW HALF the limit, it also increases your score. (Not to mention paying on time). |
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Dr. Deth
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yes, but not for the first 13 consecutive months you do it and then only every 3rd month and if you miss any months you have to start over again and your score goes down 12 points |
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Jewel
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Thats a good question. Try here http://ficoforums.myfico.com/fico/ |
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