After paying off debt which was on my credit report, what can I do to raise my score?

Answer 1

After you paid off your debt, your credit score will eventually raise through time.
Although getting other credit cards and paying them off is a "trick" but your credit report will show that you have too many credit cards. It is a trend that credit agencies see. That's an old trick and the agencies will look for that.
Just stick with paying off current debt. That's your best move. And resist getting more loans and credit.
I once had bad credit. One that I couldn't get any credit cards. Nothing.
Once I got married, I got rid of all my credit cards and paid off all outstanding debt. We started new and kept up payments of home, car, etc.
My credit score eventually raised and now I'm an "average" rate. I didn't do anything but continue a well-managed financial responsibility. I raised from "risk" to "average" in 3 years.

Answer 2

First make sure it has been removed from your credit report. They don't always remove it right away.
You need to build your credit back up. The best way is to go to your bank and take out a small personal loan. ($200.00) place it in a savings account and use it to pay the loan every month. Pay it a week early. Do not pay it off all at once, because they want to see regular, on time payments.

Then you can get a credit card. This is the difficult part for most people. Charge maybe $50.00 on it. When the bill comes, pay it off.
Creditors just want to see you make on time payments. That is the way to build up your credit.

Answer 3

The best way is to just pay all your bills on-time and not to open or ask for any new lines of credit. Any negative remarks on your credit report will drop off after 2, 7, or 10 years depending on what it was (10 years for bankruptcy) and your score will rise. Stability and on-time payments over time build up your score.

Answer 4

Send a letter or call your creditors to ask that they update their records and the credit agencies to show that your debts are paid in full. This will help lift your score a bit. (also check with the credit agencies to find out what more you can do) I would suggest if at all possible to get a credit card (with a low limit) that you can charge small things on and pay them off right away. This will also help to improve your score.
Good luck!

Answer 5

Establish a payment history. Even if it's $50 a month, on a prepaid credit card, pay it on time! Do NOT apply for anything that requires the organization to check your credit. The more times that it's checked, can actually reduce your score a little, and every point counts.

Answer 6

you have to establish postive credit flow on your credit..i hope when you paid off your debt you didnt close the credit cards..by closeing them you would lower your score...the idea is to pay them off but not use them......
the best thing is to get a copy of your report and make sure what is on it is accurate..95% of all reports contain inaccurate info....keep your balances below 45% on any credit cards..stay current on all debt you do have..and most of all is time...a collection can only hurt you for a max of 2 years..after that is can no longer hurt you..so the more time passes the more your score will go up..and for a qucik fix become an authorized user on someone elses credit card who has good credit...it will reflect in your score for a short period of time...

Answer 7

Apply for a capital one credit card. They may only give you a small limit. But after you get the card, charge something on it, make a few monthly payments on it, then pay the balance in full. Things like this will raise your score by showing that you are responsible in making your monthly payments and in good faith pay your bills.

Answer 8

Paying off derogatory products gained't boost your score. the wear and tear is performed and could stay for the stability of the 7 12 months reporting era, no matter if paid or no longer. although, lenders seem at your total credit rfile no longer merely the score. Paid previous debt continuously seems better appropriate. in case you don't understand goods exhibiting on your credit rfile, dispute them with the credit bureau. If that would not get the article bumped off, deliver an approved, go back receipt letter to the creditor asking for validation of the debt to contain copies of contracts or different files that coach the debt is yours. you'll then understand if the debt is yours and would negotiate contract with the creditor. by ability of how, paying off your pupil loans (installment loans) early gained't quite help your score both. Installment loans construct credit by ability of making the funds on time. although, paying them off early will avert a lot of interest. continuously wise to imagine with your pocketbook first. those paid pupil loans could proceed to exist your credit rfile for a minimum of 10 better years. they are effective credit products.

Answer 9

A lot of people are unaware of this, but you can actually pay the three major credit bureaus to review your credit to raise your score.

Answer 10

Get a Credit Card Like from household Credit! and pay it!