2006-12-16 03:54:04 · 9 answers · asked by tdddmdt 1 in Business & Finance ➔ Credit
Don't go joining any sites, most are just a scam. All you can do is to pay your bills on time, and start with small amounts you can afford. If you are with a credit union, apply for a small signature loan about $1,000. Start with an amount you can afford to make payments on. credit builds up slowly, but gets ruined fast. Keep an eye on your credit history too. Watch for wrongful charges and stuff like that. I know, I had to rebuild my credit after a divorce and bankruptcy. Very hard to come back, but possible.
2006-12-16 04:02:20 · answer #1 · answered by GIOSTORMUSN 5 · 1⤊ 0⤋
Companies or people that say they can help raise your score are scamming you. Those companies and services are not lying. However, what ever they can do for you, you can do yourself.
As I improved my credit score, I notice that accounts that carry a high balance (i.e. maxed or close to maxed) and having too many open accounts really stumped my score. Inquiries have minimal impact on your credit scores. Having excessive amounts of inquires will slightly lower your credit score, however it is not weighted the same as a delinquent payment or a higher balance.
I recommend keeping a balance of no more than 20-25% of your credit limit. Most will say 30%, but at 20-25% you have the extra 5-10% as a cushion for purchases and finance charges.
Credit inquiries take a little more than two-years for removal. I say a little more because if the inquire was on 12/2/2004, the removal will post on January.
Request a copy of your credit report and check for inaccuracies. Those inaccuracies can lower your score. My credit score went from a 685 to a 692 after correcting some inaccuracies (credit inquires that were not removed after two years and an open account that I paid/closed). You are entitled to a free credit report per year that has information from all three credit agencies. However, that report does not disclose your credit score. You will need to purchase your credit report through a broker or bank to see your score.
Credit does not build quickly. Most think they will build up a 700 score with a car loan and a few credit cards. You have to consider how much history you established and your financial behavior with those accounts.
Patience and good financial behavior is the key.
2006-12-16 12:41:40 · answer #2 · answered by jynxx25 2 · 0⤊ 0⤋
Talking to someone won't help your score. The only thing that will help is paying your bills on time. And it can take from months to several years to raise your score very much. If you have negative information on your credit report, it will only be helped by the passage of time. Raising your credit score or building a good credit history takes time.
2006-12-16 12:09:54 · answer #3 · answered by Flyby 6 · 1⤊ 0⤋
The only thing that will raise your credit score is good credit practices.
If you have bad credit, make sure you pay all your bills on time and don't miss any payments. If you have things that have been sent to collection agencies, let them know you will pay it off in full if they agree (in writing!) to take it off your credit report. If you're having trouble making payments, call the company. The longer you wait, the less they can do to help you.
If you don't have credit (or much credit) yet, try a secured credit card and secured loan. Or just a regular credit card you can pay online. Don't charge something unless you have the money to pay off the card that day. And as soon as it shows up on your online account (ususally about 2 days) pay it off in full.
2006-12-16 12:02:55 · answer #4 · answered by Vadalia 4 · 1⤊ 0⤋
It really depends on your personal situation but, there are things that always improve your score, things that always lower your score, and things that do either. The things that always improve your score are paying off delinquent accounts, paying down debt, and aging your credit history. If you don't have a lot of credit start by opening a new account not multiples because that can hurt you and carrying a balance but paying on it responsibly.
2006-12-16 12:02:36 · answer #5 · answered by Vegas_v 2 · 1⤊ 0⤋
Pay your bills talk to a loan specialist they can tell you how you can go about taking care of your bills to raise your credit score again.
2006-12-16 12:29:00 · answer #6 · answered by herbie36f 4 · 0⤊ 0⤋
It is very simple but, it will take time. Pay your bills on time, when you use a credit card pay it off, do not use extended payments.
Good luck.
MERRY CHRISTMAS AND HAPPY HOLIDAYS!
2006-12-16 12:42:42 · answer #7 · answered by soar 3 · 0⤊ 0⤋
go to www.annualcreditreport.com
pull all three credit bureaus
pay all derog credit
dipute all derog credit
pay down balances on credit cards (revolving credit)
limit the amount of people that pull your credit (inquires)
2006-12-16 12:11:27 · answer #8 · answered by Bill Clinton 2 · 0⤊ 1⤋
There is some useful advice here.
2006-12-16 13:02:32 · answer #9 · answered by Anonymous · 0⤊ 0⤋