traffic814
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Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you'll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
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http://www.loansandinsurances.com/ |
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Just M
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it seems like everyone having credit card problems ....
everyone can learn from each other . I think the best is
get everything paid off , and not make bills . lay low .
conserve / budget / only buy what's important .
shelter
food
bills
or
shelter , bills , food etcccccc |
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mrsbbb
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There are many things you can do to build your credit. Some things I have tried in the past would be using my credit cards, but keeping the balances under half of the limit and pay them on time and pay more than the minimum. The helps raise your credit score.
Remember that closing an account does not always have a positive effect on your credit score. An open account used wisely shows better than a closed account that may not have been used to wisely. Using your credit cards wisely can dramatically improve your score over a short time.
Start small. Go to your credit union and try to get a small loan. Credit Unions usually look at the whole picture and not just the credit score. Even if you use that small loan to put in
the bank for the payments to come out of each month, it is helping build your credit. Yeah you will have to pay some interest, but usually a credit union has some pretty good rates and can pay off with dramatically lower rates in the long run.
Keep your debt ratio down. Try to keep your debt ratio under 40% (and that too me is even actually high), but a lot of places like to see a debt ratio lower than 40%. However, if you are going to borrow from them, that 40% will have to include their payment as well so take that into consideration.
Pull your credit report at least once a year from each of the three credit reporting bureaus. Dispute anything that is incorrect. Shoot you can even dispute something that might be accurate. Anything disputed through the Credit Reporting agency has to be proven accurate within 30 days or they have to take it off. Some places may want to take the time to show proof, then again some may not and some negative things may come off.
Be responsible and think purchases through and try to develop a savings plan and keep your debt to reasonable limits with a good track record. This will pay off in the long run. |
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lilbunnywabbitt
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Ironically, the best way to improve your credit is to spend and pay. You need to use your cards for small purchases and then pay it right away. As a matter of fact, I had the same problem... I started to pay my bills with my cards and then send my cards my bill money... I would recommend cutting down to 2 cards.. use one.. and hold the other for emergencies.. get rid of all department store cards.. their interest rates are out of this world high. And the better your credit score.. the better interest rate you will get eventually with big ticket item purchases. |
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See the link below to a pamphlet published by the people who invented the FICO score that explains everything you need to know about your credit score and how to improve it. |
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nervousss
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i need the same help..sorry ! |
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KD
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what you can do is if there is anything else outstanding on you rreport is go to annulacreditreport.com and dispute everything, if they don't reply within 30 days it automatically comes off your report. Also call the companies that you are paying on now and see if they might take a few months of late bills off. Everytime something is late it hurts your score. You obviously need to be kind of a kiss a$$ on the phone because you are asking a favor. Other than that just keep paying on time, send extra if and when possible and your scores should improve over the next 6 months!
Good Luck! |
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?
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Alot is from how high of debt you have to the limits available. For example. You have a $1000.00 if you owe more than 400 it makes your credit worse. If you have used alot of credit all at once it sends red flags to the credit bureaus that you cant pay for stuff you have to use credit. Keep your balances under 30% of the total you can borrow from. |
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Fifer
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Keep your limits about 50 below your max or every month pay off the amount you used on credit card. Also make sure you have not little bills such as old eletric bill or cellphone bills or little doctor bill all these little thing can cost you some points. |
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Libby
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well i was shopping for a new car, which one's me, a new convertable or an suv, too bad i didn't know my credit was wack, and now i'm driving off the lot in a used sub-compact.
f-r-e-e that spells free, credit report dot com bay - bee! |
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candi h
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My first piece of advice would be to make sure that all of the information on the report has been update and is correct. Have you paid back all of the debt as of yet? If not I would start be setting up payment plans because you have to get rid of those accounts with negative information (or at least get them reporting a $0 balance). Next, continue paying on time. In about 4-5 months I paid off three negative accounts and increased my score all by myself by 80 points. You can do it, you just have to step up and pay back what you owe. Good luck. |
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Mrs HarleyBrat
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get those credit cards paid off (and once you hit under half the high limit that will help) stop using them and double up the payments - then wait. Time is the only thing that will fix your score - pay em off and stop using them then sit and wait and watch - will take about 3-5 months to see score start going up again |
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Yahoo Jack
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It takes time to raise your credit score. Some simple rules, pay all bills on time, reduce your number of credit cards to just two. Do not take out any new loans or credit cards until you get your credit score up to 700 or greater. |
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