2006-07-30 01:01:28 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Do you know how many points you will recieve to your credit score when an old debt drops off? how many points are added ....does anyone know?
2006-07-30 01:13:37 · update #1
Pay your bills on time and keep your debt to income ratio less than 25%.
Things that help are mortgages, car loans, etc. as long as they are paid on time.
Watch your credit card balances, if you owe more than 50% of the credit limit this hurts your credit even if you are paying on time.
2006-07-30 01:11:14 · answer #1 · answered by UOPHXstudent 4 · 0⤊ 0⤋
There's no cut and dried answer to that question. Your credit score is a composite of your payment history, total debt to available debt ratio, and length of your credit history.
Paying off an old debt or one that showed a late payment history will help, though not very much. A long history of financial responsiblity is the ONLY way to generate a high score.
2006-07-30 01:45:57 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You have to pay your bills on time every month. It'll take about 6 months for your credit to readjust.
2006-07-30 01:04:55 · answer #3 · answered by sunny 3 · 0⤊ 0⤋
I found some good info here.
2006-07-30 02:56:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
pay your bills on time
2006-07-30 01:04:45 · answer #5 · answered by pike 2 · 0⤊ 0⤋