Ways to improve my credit scores?

Question

My credit scores is not great but far from worse. I think one of the reason that's driving my credit score in the mid range is because few of my credit cards is near their credit limit. I was told if I pay off more than 60% of the balance then my score shall improve because it lowers my debt ratio? Is this true? How long will it take to bring my scores up? Please Advice!

Answer 1

First, don't charge anything you don't positively have to have. Second, try to pay more than the minimum payment. If you always pay the minimum, you'll never pay off the cards. Third, get rid of all but 2 of your cards, you don't need alot. Then, try to find a bank, try to find a credit card company that has the lowest rates,you'll have to ask them , they won't tell you their lowest rates, and consolidate your cards into that one. Pay as much as you can on the bill, even if you have to do without buying new things. You'll soon see your bill come down. Everybody gets into debt, but you have to be careful with credit cards. It's so easy to say charge and forget you're not paying with cash. As much as you can, pay with cash ,food, gas, and necessary items. Good luck to you.

Answer 2

That is about right. How long before you score goes up is how fast you pay off the 60%. Roll your sleeves and get to work to pay off those credit cards. Also it would be a good idea is you only have one!! That way there is no temptations to use them all!! Good luck!!

Answer 3

Yes, it's true - it came up when I went to buy a house for the first time.

Cut all your credit cards in little peices & dedicate yourself to digging yourself out of the hole you are in. Minimum payments keep you trapped. Your future financial goals are already being threatened because of this situation. Start today & you'll be glad you did.

Good Luck!

;-)

Answer 4

pay more the minimum payment that seemed to help mine a lot