how do i boost my credit rating?

Answer 1

All of the above and...Don't max out your credit cards. Try not to spend any more than 35% of your credit limit. 30% of your credit score is based on your used credit to available credit ratio.

Answer 2

There are great suggestions already listed. I would also suggest some of the following:

First, review your credit report and take steps to fix any mistakes you find.

Make all payments promptly. This will keep new, negative items from appearing on your account.

Pay down your existing credit balances.

Do not add new accounts in order to lower balances on old accounts.

Do not close long-term accounts

Establish new credit, but only if you have little or no existing credit history.

Use automatic payment plans or set up a bill paying calendar to ensure that you pay all your bills on time.

Develop a written plan to correct any negative item(s) that are affecting your score. Specify what you have to do and how you will know that you have fixed the problem.

Really you need to be aware of what's on your credit report. You should understand that losing points is far easier than gaining them. The best thing to do is build an excellent payment history, and use your existing credit wisely.

Answer 3

All of the preceeding are fine, although in regards to the 35% of your credit limit, here's the rub on that...Lets say you get a credit card with a $500 limit and you spend $100 the first week. If you know your not going to have the $100 to pay the bill when it comes due, this is only 20% of the limit and you cannot make the payment. Oh sure, you can make minimum payments, which amount to chump change , but the true rule of thumb should be if you cannot afford to pay the amount next month or perhaps the month after, do not buy it.

Answer 4

Your credit rating is a number that estimates how likely you are to pay pack money you've borrowed. If you are young, and have no financial history, find a place to borrow a little bit of money.

A department store or other kind of store is usually the easiest place to get credit. You buy something, then pay it off over the next few months. Then do it again. Now you have a credit history.

Building credit over time means being shown to manage different accounts, without having too much debt. So carry no more than two or three credit cards, and be careful not to have too many other "store accounts". Pay each bill on time, every month. Don't buy stuff you don't need - overspending will ruin your credit rating, as their formulas can tell when you aren't paying off more debt then you are spending.

Answer 5

Pay your bills on time (don't wait for the red one) and get a credit card. Use your card regularly (not huge amounts) and pay more than the minimum amount every month.

Answer 6

pay your credit agreements on time

Dont keep applying for so many credit agreements in a short space of time.

This one is really ironic..

the more credit agreements you have the better your rating will be, especially if you pay them all on time

Answer 7

Open up a zillion credit cards, max them out and declare bankruptcy. Never open your mail. Find another country to hide in.

Answer 8

get a job and clear all your debt and pay your bills on time

Answer 9

pay your bills

Answer 10

pay your bills