How can you improve your credit score QUICK??

Question

my credit score is 597.... i guess that really sux.

I need to improve it, i want to buy a house so I can finally move out of my parents! HELP!

how do i do this quickly?

Answer 1

There is no quick way, but you aren't that far from 650, which should really change things.

Get a charge card, and pay it off every month.

Dont be late with anything.

Maybe in 6 mos, you will be in better shape

Answer 2

Find a friend or family member who has had a credit card for 12 months or longer with a good payment history and ask them to add you to the account. Their positive payment history will be added to your credit report and score. Check for innacurate items and dispute them. I would make sure you have three accounts reporting to your report. If you have credit cards now, pay them down to using 50% or less. This will improve your score. I would also check with someone else, I could get you a mortgage right now with your score, 597 isnt the highest but I finance people with that score all the time. If you dont have 3 accounts, go ahead and open one up, just don't max it out, but a new account will initially drop your score, then increase it in the 2nd and 3rd month. I could tell you specifically what to do if I saw your credit report, feel free to email me if you want help.

Answer 3

Pay off the credit cards. That's the fastest way to improve your score. You should also take a look at your credit report and see what is causing such a poor score. If you have negatives, the mortgage company is going to require you clear those up before you can get approved. You may want to start dealing with those now. Start with the newest and work backward. Considering the current flux in the housing market and your poor score, you may want to wait before buying. That would give you time to clean up your credit and qualify for a better interest rate.

Answer 4

Increasing your credit limits is one of the fastest and easiest ways to increase your FICO credit scores.

When you increase your credit limits and your spending patterns remain the same you end up using a smaller percentage of your combined credit limits. This increases your credit score rating.

Imagine you have 10 credit cards, each with a $1,000 limit. So you have a total (or aggregate) credit card limit of $10,000. Now assume that five of these credit cards are maxed out. In this case, you have a total (or aggregate) credit card balance of $5,000.

Your balance-to-limit ratio is now 50%. You've used $5,000 of your $10,000 total credit limit ($5,000 / $10,000 = .5 or 50%). This is called your "revolving utilization." It's the total amount of your credit limits that you are currently using.

You pick up the telephone and ask for a credit limit increase on each of the five credit cards you haven't maxed out.

Let's suppose each of the five lenders doubles your credit limit. So now you have 5 credit cards with a $2,000 limit and a $0 balance. But you also have 5 credit cards with a $1,000 limit with no available credit, for a new total credit card limit of $15,000.
You’ve used $5,000 of your $15,000 total credit card limit. Your new balance-to-limit ratio is 33% ($5,000 / $15,000 = .33 or 33%). By increasing your credit limits you've just reduced your balance-to-limit ratio from 50% to 33%.

And if you doubled the credit limit on the other 5 cards in this example, your balance-to-limit ratio would be 25%.

That's a significant decrease in your ratio. You've just increased your credit scores by making a few free telephone calls.

Answer 5

There is no quick fix. Lower the amount of total credit you are using on any revolving accounts would help greatly since that is 30% of your score.

Answer 6

sumdum,
with a score of 597 you Do Not need to increase you 'I Love debt slavery' .
you need to learn that you don't earn enough or know how to manage money enough to get a house.
want to move from your parents - get a truck live in it, cause thats where you wwill be living after buying a house.
you need to visit daveramsey.com to learn about money before you get bent over and burnt. get a copy of 'house buying for Dummies' . Get 2 more jobs to make and keep money lots of it. Cause given what you've said you will get visited by an associate.

Answer 7

Pay off your credit cards. Or at least get them down to less than 1/3 of your limit... this does wonders to your credit

Answer 8

Dispute all negative items on all three of your credit bureaus. Anything that is disputed and not verified will be changed to how you disputed it.

Answer 9

Check you credit report and see if there is anything negative and rebut it.