2006-09-05 10:28:28 · 9 answers · asked by dustyjoe21 1 in Business & Finance ➔ Credit
I make good money and I pay my bills on time but I don't have a lot of history. How can I get stronger credit?
2006-09-05 10:33:25 · update #1
I agree with pattycake, do some reading on creditboards.
Start in the newbie forum (so you can understand the abbreviations etc) then go to the credit forum and do some reading.
There is a lot of good info on there from people who have been in your situation.
After you have done some reading and have any questions, feel free to ask them in the credit forum.
Everything on that site is free to read and use and it is a spam free site.
2006-09-05 10:49:17 · answer #1 · answered by echo 7 · 0⤊ 0⤋
www.myfico.com is a good site.
Here's some of the tips they give to raise your score:
Payment History Tips
Pay your bills on time.
Delinquent payments and collections can have a major negative impact on your score.
If you have missed payments, get current and stay current.
The longer you pay your bills on time, the better your score.
Be aware that paying off a collection account will not remove it from your credit report.
It will stay on your report for seven years.
If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
This won't improve your score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.
Amounts Owed Tips
Keep balances low on credit cards and other “revolving credit”.
High outstanding debt can affect a score.
Pay off debt rather than moving it around.
The most effective way to improve your score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
Don't close unused credit cards as a short-term strategy to raise your score.
Don't open a number of new credit cards that you don't need, just to increase your available credit.
This approach could backfire and actually lower score.
2006-09-07 19:41:12 · answer #2 · answered by ? 4 · 0⤊ 0⤋
If you pay your bills on time, there is no need to fix your credit score. If you have a score above 680, you'll get the best deals on loans. People think that a score of 800 is better than 700, it's not. Both will be treated the same since they both have excellent credit.
2006-09-06 05:46:20 · answer #3 · answered by Steve R 6 · 0⤊ 0⤋
Credit Score Explained
http://www.debt-loan-refinance-mortgage-credit.com/category/Credit-Score-Myths-Explained.html
2006-09-06 00:55:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
How To Raise Your Credit Score In 24 Hours
By: LK Hughes
Here is a helpful article can get you on the road to success. You can use this site to learn more about credit and finance.
2006-09-05 10:35:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Go open a bank account with 1.2 k. Get a loan for 1k from that bank with automatic withdraw from that account. Go open another savings account with that 1k. Get a loan for 1k based off that account with automatic withdraw from that account. Repeat till you have 5 open accounts with loans and automatic withdraw.
Figure out the total you need with interest for each account and deposit that into each account. May cost you a few hundred but your credit will go up cause you have more savings accounts and your paying 5 loans on time.
2006-09-05 10:44:40 · answer #6 · answered by ironcrosx 2 · 0⤊ 0⤋
pull all 3 credit bureaus and then dispute anything that is possibly wrong. sometimes the people who put a bad thing on your credit won't get back with the bureau and then the bureau will take it off
2006-09-05 10:30:38 · answer #7 · answered by notyours 5 · 0⤊ 0⤋
Watch or read Susie Orman! It's a process I am going through as well! It just takes time and diligence!
2006-09-05 10:31:42 · answer #8 · answered by denny 2 · 0⤊ 0⤋
Visit creditboards.com There is alot of info there.
2006-09-05 10:34:06 · answer #9 · answered by pattycake 3 · 1⤊ 0⤋