I have paid off most of my debt, have one cc , auto payment & house payment , I have been making all my payment on time for the last 4 months and before that hit a rough patch , my credit score does not seem to be moving up ???
2006-09-01 06:49:46 · 5 answers · asked by dmamaof2 1 in Business & Finance ➔ Credit
As for what the first poster said about you pulling your own credit, that is not true. If "you" pull your credit it will not drop your scores, if you apply for credit, then you will see a score drop.
Paying on time will "eventually" raise your scores, but it won't happen quickly. You would have to create a history of on time payments.
Depending on your scores, if they are near 600 or higher, you might think about applying for another credit card or two. You will see a ding from the application, but if you are approved it will help raise your scores.
I'm not saying apply and buy. If you get approved, use the card for a low limit purchase, stick it in a drawer and pay in full when you get the statement. Do that about every 6 months. You can buy a hamburger at McDonalds or something inexpensive like that.
If you get another card or two, your scores should start raising in 4 to 6 months. As long as you keep everything paid and keep a low utilization on your accounts.
2006-09-01 15:26:14 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Fair Isaac is a provider of predictive modeling, decision analysis. Your FICO scores are the credit scores most used by lenders to determine credit risk. They are based on a culmination of many factors, such as time in the bureau, type of accounts (car/mortgage vs. small credit cards), and of course how debts were repaid. It takes longer than 4 months to establish a pattern. Be patient and when you have established more good credit than negative your scores will increase. Also, see MYFICO.com for more information.
2006-09-01 10:27:30 · answer #2 · answered by nonfrump 2 · 1⤊ 0⤋
Credit doesn't just go by making your payments on time. You seem to have a good mix of credit (one aspect), your debt-to-credit ratio is another factor. There's also the amount of time you're had credit. Just keep making your payments on time and try to keep you cc balance as low as you can and it should go up after a while.
2006-09-01 08:22:57 · answer #3 · answered by Vadalia 4 · 0⤊ 0⤋
It relies upon on how overdue you're. each and every economic enterprise facilitates a 10-day grace era in the previous it is considered an inner overdue charge. yet, they could purely checklist your charge as overdue to the credit bureaus notwithstanding if it is 30-days or greater overdue. while you're purely reported overdue as quickly as and this is purely a 30-day overdue, your score won't go through that lots purely approximately 10-factors. yet, while you're overdue numerous circumstances in a row or are God forbid 60 or ninety days overdue then your score can drop as much as 50-factors
2016-10-01 04:30:26 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Don't keep pulling it!! Everytime you pull it - it costs you 5 points!! Wait 3-6 months and check it again, I am SURE you will see it go up!!
2006-09-01 06:53:08 · answer #5 · answered by Anonymous · 1⤊ 0⤋