say that you have a credit card for 1,700 and you pay 50% of the limit how much well it bring your score up
2006-07-14 18:02:47 · 5 answers · asked by SAD 1 in Business & Finance ➔ Credit
Credit score does not depend on one credit card only. There are a few rules to help you....
1 - try to keep your balance around 33%, but not over 50% at all time
2 - Be sure to make your payment on-time
3 - Do not close all credit cards at once or open a lot of them at once. Since the longer history of these revolving credits, the better.
4 - Do not make a lot of inquiries of your credit scores are within a 6-mo. period.
5 - Collections and/or charge-offs tend to stay on your credit report for 7 years or more. (even you paid them off) That will not help you on your credit score.
Good luck!
2006-07-14 18:10:18 · answer #1 · answered by Lending Guru 2 · 0⤊ 0⤋
Hi LNVILLA,
Listen to Lending Guru, she's pretty much spot on.
These are the fundamental basics everyone should know about regarding their credit profiles
Good Luck,
~Trey
2006-07-15 05:38:34 · answer #2 · answered by ~Trey 3 · 0⤊ 0⤋
Can't tell u 'bout that... what u do is get ur FICO score.. from myfico.com and see what shows up!
FICO score is what Credit agencies use to calculate ur credit score.
2006-07-15 01:09:52 · answer #3 · answered by Sh00nya 4 · 0⤊ 0⤋
first off, you shouldn't go past half of ur limit.
2ndly, monthly payments look better than ONE BIG CHUNKY PAYMENT, and will build your score better
2006-07-15 01:07:12 · answer #4 · answered by xeroxpoop 3 · 0⤊ 0⤋
here's a link to how to raise your fico score:
http://www.oprah.com/download/pdfs/money/money_fico.pdf
2006-07-15 01:37:26 · answer #5 · answered by Plumeria 3 · 0⤊ 0⤋