2006-07-31 16:18:07 · 11 answers · asked by david w 1 in Business & Finance ➔ Credit
The thing is I don't have a lot of credit cards about 4 with very little amount on them 300.00 limits. Yes they are maxed. Now I pay the minium on time so when should i see an improvement in my score or what can i do besides paying on time.
2006-08-01 14:57:15 · update #1
Credit scores range from 350 to 850. 551 will not prohibit you from buying a house, but your options may be limited. You'll need a larger down payment ,for instance, and your interest rate may be higher. You can increase your credit score by: 1. paying your bills on time. 2. making sure that you are not maxed out on your credit cards. Try not to use more than 35% of your available credit. 3. Making sure that the information on your credit report is accurate. 4. Not opening any new credit lines.
You can obtain a free credit report from: www.annualcreditreprot.com
2006-07-31 16:29:52 · answer #1 · answered by amkornele 3 · 1⤊ 0⤋
This Site Might Help You.
RE:
is 551 a bad credit score and how do you up the score?
2015-08-12 00:44:27 · answer #2 · answered by Dionisio 1 · 0⤊ 0⤋
I just got a loan from a credit union and the told me that my credit rating was 700 with 800 being the best so I think that 551 isn't to bad of a credit score.
Credit Card debt is something that will affect your score, especially if it is substantial, and late payments will cost you
2006-07-31 16:31:00 · answer #3 · answered by krystelleman 1 · 0⤊ 0⤋
You need to build credit by using credit responsibly again.
This site offers loans that are very easy to qualify for and builds credit scores by reporting your regular payments to the major credit bureaus:
http://monetizeit.net/z/1195/CD948/
Just paying regular bills ontime will only keep NEW bad marks off of your credit score. You'll want to get the score up to at least 650 for favorible rates.
2006-08-02 06:59:20 · answer #4 · answered by Harvy S 2 · 0⤊ 0⤋
It is considered a poor score.
Either you have alot of baddies on your report or you are just now starting to build your credit history.
You might check out the free site I've listed and learn how to deal with the baddies and how to improve your scores.
2006-07-31 17:38:38 · answer #5 · answered by echo 7 · 0⤊ 0⤋
Yes, it is pretty bad. Under 600 is considered bad.
1. Pay your bills on time.
2. Don't apply for more credit right now.
3. Pay your bills on time.
4. Pay down your credit cards.
5. Pay your bills on time.
6. Close any credit that you are not using.
7. Pay your bills on time.
2006-07-31 19:12:53 · answer #6 · answered by kako 6 · 0⤊ 0⤋
Is 551 a bad credit score and how do you up the score?
T.R.Y
T.H.I.S.
S.I.T.E
W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
T.H.E
B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U
2015-01-05 10:42:48 · answer #7 · answered by Anonymous · 0⤊ 0⤋
That is poor. Try paying off past debts and maintaining solid payment history with current creditors.
2006-07-31 16:29:28 · answer #8 · answered by Anonymous · 0⤊ 0⤋
anyhting under 650 is considered poor credit
2006-07-31 16:25:17 · answer #9 · answered by nurse_dez 1 · 0⤊ 0⤋
I would like to ask the same question as the previous person.
2016-08-23 03:18:30 · answer #10 · answered by Anonymous · 0⤊ 0⤋