how can I build my credit score up without getting another charge card. I do pay my bills on time .?

Answer 1

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good luck!

Answer 2

I recently answered a similiar question for someone else, and thought this would help you as well. If possible, you should maintain 2 credit cards, preferably the major cards, not department store cards. If you manage these cards, it'll improve your credit score.

Credit scores are normally based on 5 factors - payment history, outstanding credit balances, credit history, type of credit, and credit inquiries.

Payment history - if you can't payoff the entire balance, always pay more than the minimum payment due, even if its only $1 more.

Credit Balance - You should try to keep balances below 30% of the credit line.

Credit history - cards you've had for a longer time will reflect better on your credit score, as oppossed to cards you've only had for a short time.

Type of credit - different types of credit (car loan, mortgage, credit cards) are usually better than just one type. But this isn't a high weighing factor when determining your credit score. Don't worry too much about it if you only have credit cards.

Inquiries - too many inquires in a 6-month period can negatively impact your credit score

Hope this helps.

Answer 3

Ask your bank to give you overdraft protection and that is typically a line of credit that reports. The quickest way is to have mom or dad or a good friend who have really good credit to make you an authorized buyer on one of there cards that is paid off (you don't want debt reporting) and then there credit info will show up on your report in a few months. It will give you an instant history and help your score. DO NOT GET A CARD FROM THEM. Just use as a way to help your score go up. Again, make sure they do use the card anymore and it is an account in good standing.

Answer 4

Keep paying your bills on time. That is always a good sign to creditors which will boost your score.

Also, you will want to consider increasing the mix in credit accounts. 10% of your FICO score is comprised of the variety of credit accounts you have. As mentioned previously, cars and other non-revolving types of credit will help you slightly.

Also to consider: how much of your available credit are you using? The lower the better. If you are carrying a high balance, pay it off and keep it under 30% of your available credit. That will boost your score too.

30% of your score is based on the amount owed.

I hope that helps.

Answer 5

If you own your own home you can refinance and pull cash out to pay off you bills and raise your credit score dramatically. I work at united lenders group and work through 45 different companies so i could help you get a mortgage loan no matter what debt your in or what kind of credit you may have
916-860-0804
keyon

Answer 6

Don't charge you credit cards over half the credit limit and make more than the minimum payment to pay them down. Close any old cards that you don't use and don't keep too many accounts open.

Answer 7

Get a car, buy a house, get a small loan. I bought a new Pick up truck when I was 19 years old with no co-signer and then got divorced 5 1/2 years ago guess what happened :(

Answer 8

you will build your credit score up man dont worry about it