As a young adult, before I knew the importance of credit, I max out three credit cards in the amount of 3000. I also have additional debt that brings me to a total of approx. 6000. My credit score obviously is low, and I am focused on bringing my score up and eliminating past debts. Please help!
2006-12-08 01:39:44 · 6 answers · asked by ifsnch 1 in Business & Finance ➔ Credit
Call this company: http://www.expert-credit-advice.com/
they did a good job for me, but it took about 8 months. There is no quick fix.
You have to pay down your debts and build solid credit.
The more debt you have the bigger a risk you are.
Thats what your score is; a risk model.
2006-12-08 01:47:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First of all, do you "think" your credit is bad, or do you know your credit is bad. I would first pull up a FREE credit report from any of the three providers at www.annualcreditreport.com. Secondly, have you missed any payments? If you are at least paying the minimum payments, your credit report should be clean. If so, it will be easy to increase your credit score. Unfortunately, time is sometimes the only thing that will ipmrove your credit score. What are your current cc interest rates? What is the remaining $3000 of debt for? Car loans, student loans, etc? Also, why are you worried about your credit? There are many different routes you can go depending upon your answers to these questions.
2006-12-08 02:21:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
First thing begin by paying as much as you can each month over the minimal payments. Second when the credit card companies see you making this effort they may offer you lower interest rates and special programs, take advantage of these. Also, you may want to contact them several of the credit companies have special departments that can help you with this, and will set up special payment plans and even offer you really great rates. When the program runs out and if you are not eligible for any more programs or special rates, look at switching your balances to cards you have payed down with lower interest rates. Do not use the cards with the high rates cut them up. If all of this overwhelms you see about contacting a credit counselor company they will also help you with this.
2006-12-08 01:51:07 · answer #3 · answered by Jsess 2 · 0⤊ 0⤋
Easy. When the next bills come, pay down the cards so the balance is only 50% of the allowed limit. You'll see a huge improvement and it will only take 30 days!
2006-12-08 01:42:06 · answer #4 · answered by KL 5 · 0⤊ 0⤋
Check out the website creditboards.com it's very helpful in helping you step by step in getting bad things deleted off your report and increasing your score. Take time to read the sight for a couple of days it's a lot of information to take in, but it will work.
2006-12-08 03:02:43 · answer #5 · answered by vi14mi 1 · 0⤊ 0⤋
Minimize using your credit cards. Hav self discipline and as soon as the bills come pay on time.
2006-12-08 01:47:49 · answer #6 · answered by mared 5 · 0⤊ 0⤋