mel
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pay all debts before creating new ones. pay all credit cards on time, leaving no balance. |
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Michael A
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check them out they might be ablt to help you, they did a great job on my credit!!!! http://www.geocities.com/mikescreditrestoration/info.html |
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cj
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Pay off your debts. And pay them on time.
You could ask a friend or relative with excellent credit to add you as an AUTHORIZED user on their credit card WITHOUT actually giving you the card. It will raise your score and not affect theirs in any way.
I did this for my brother after Hurricane Katrina and it raised his.
My Transunion score is 812.
Best wishes,
pup |
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tbourgault
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The best thing to do is to maintain all monthly payments on your cards, but focus on making a higher payment on one card every month until that card is paid down, then move on to the next.
A better way; always pay more than the minimum amount due on the card. That helps to raise your score dramatically over time. |
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brent o
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pay off your old debts first |
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stopccdebt
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It used to be that paying old debts would lower your score. This is not necessarily the case anymore due to some updates at Fair Isaac on the credit score model.
I would start with the more recent ones. Getting a credit card could be a problem with a 544 credit score. |
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misskate12001
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Paying off the debt. Having lots of cards is also calculated into your credit score. Even if those cards aren't carrying a balance. Ideally, you want to have few cards with high limits with little or no carried debt. |
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oilman11977
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you should pay off your old debt. Getting a new credit card, even if you do not use it, will hurt your score if you are already behind becasue it will be assumed you will not be able to pay on the new card if you do use it. |
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Gussyellis41
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Repay the old debts and do not get any more credit right now. That is the worst thing you could do in your situation. Your credit score will go higher and higher with those payments. Make sure that your payments are posted on your account. Easy and free way of doing this. Go to a high end department store Like Saks or Macy's and apply for a card. They will turn you down if you have a history of late payments of any kind. When you get the letter of denial, send it to all three bureaus and see what they have listed. If you already have a copy of all three reports, work on the worst ones and get them cleaned up first. When they are all paid off and cleaned up, just get one credit card and keep that one paid on time and your credit score will get higher and higher.. |
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Some Dude
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What will improve my debt situation? Getting rid of my debt, or getting myself some more debt? But what if it is high interest debt that I'm adding that will be more difficult to pay off and will likely lead to a LOWER credit score?
Obviously pay down your debt. |
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boozer
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you need to get all old debts paid off and try to apply for a credit card,then make sure you pay all you bills on time from now on |
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proudpreemieparents
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Pay the debts that you have first and ON TIME. Your credit score has more than likely failed from either partial payments or late payments. |
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sarell
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doing both would help |
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K.Y. in Arkansas
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Don't get any new debt! Pay your old debt and close unused accounts that show up on your credit report. This will help b/c you will have less accounts under your name. An like everyone else has said pay ontime. |
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martin h
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Any money that you pay for something, if it shows up on your credit, will raise the score. So, if you have a lot of debt, paying that money will raise it a lot. Starting a new card making payments will only do a little, because it's not much money. It's basically your debt to income ratio that makes your credit score. You can't do much about your late payment history. That can't be repaired except for waiting for them for years to dissappear. |
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sexy_twin_mom
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you might not be able to get a credit card with bad debt.... not a good at a a civilized rate anyway.
payoff old debt - you will never have better credit until you do.
people-myself included though all things fell off after 7-10 years....well it doesnt....it only comes off after 7 years after you pay it.... i found that out when buying a house.
also applying for credit can actually lower your credit rating.
every time the report is ran shows up also and for what reason.
get a copy from all 3 credit bureaus....experian,trans union, and equifax - they are not the same...crazy huh.
pay off all bad debt. |
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valducci53
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The others have given good advice. Try www.suzyorman.com...she has all the answers to all the questions. |
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Big Bobby Clobber
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Pay off old debts |
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