Whats the best way to get your credit score up?

Question

I've heard paying your bills on time for at least 6 months...
Plzzzz help

Answer 1

Yes, what all these people said is right. It also helps if there's a nice big gap between what you owe on a card and your credit limit. So the higher your credit limit (and the less you owe on that card), the better. Also, it's good to have long histories with a card, so even if you pay off a card, don't cancel it. And don't apply for any new ones. Finally, check your credit report and make sure everything in there is accurate.

Answer 2

Your credit score is usually* made up of the following:

1. Your income
2. Your job stability (how long you have been employed)
3. Homeowner status
4. Your credit history (missed payments etc)

Your income is an obvious one - get a better job and you will be more likely to get credit. Also the longer you have been in a job the better. And whether you own your own home can help - just look at companies such as http://www.homeloanhouse.co.uk and you will see just how much enphasis they put on homeowners.

The advice you were given seems sound; don't miss any more payments and your cradit rating will improve. I would recommend setting up a seperate bank account for your bills with an overdraft, and have ALL your bills coming out of the one account monthly by direct debit. Believe me it will simplify your finances no end. And when that car insurance comes round - you should have the funds to pay for it (if you budget right).

Failing that - actually borrowing more can increase your credit rating (again assuming you don't miss any payments). Companies such as the following can help find a good deal:

http://www.niceloans.co.uk
http://www.homefinance.org.uk (homeowner specialist)
http://www.everycase.co.uk (bad credit specialists)

I hope this helps. If you need any advice, I recommend you speak to an IFA - they can be free and can help with all aspects of your personal finances.

There is also a wonderful article here that will help no end: http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101485056,23650,

Thanks,

Dave Gee
Personal Finance Guru (at least I like to think so)

*Your credit score can vary from loan company to loan company, as the 'score' is often determined by themselves and not a third party .

Answer 3

Pay you bills on time ALWAYS. Not just 6 months. Lenders (who are the ones that generally care the most about your score) want to use this score to evaluate how risky an investment you are. The risker you are, the more money they are going to require from you in interest payments costing you lots more money. Be responsible and try not to use debt at all, except for your house...that means don't lease a car, never take out a loan on something like furniture or a computer. Simply pay your bills on time and be responsible, your score will slowly go up and your interest rates (and even your car insurance premiums believe it or not) will start to go down. Good luck

Answer 4

Pay your bills not only on time, but more than the minimum.That way you pay them off as soon as possible

A great way to get your score up, is to open an account with your local department store.
Charge $100. And when you get the bill pay it off all at once.
Sounds like shooting yourself in the foot, but it actually works.
Do this a few times with money that you have, say put aside, for things that you need anyway.And before you know it, along with my first suggestion you will have stellar credit...

Answer 5

Pay your bills on time. Also if you're able to take out a credit card. It only needs a small limit. Charge some on it, don't overdue it though, just enough that you can pay on it each month and that will get reported to the credit agency. If you decide to cancel credit cards just cut them up so you can't use them. Don't call and cancel as this can look bad on your credit score.

Answer 6

Inaccurate files, especially if they are in a derogatory status can significantly impact your credit score AND the possibility of qualifying to make purchases such as a home or a car..often times even a credit card!

PLUS, your interest rates can be much better with a higher credit score, which could potentially save you hundreds of dollars per month in interest payments!

Unfortunately, as unfair as it is, for many people, poor credit is a reality... UNTIL NOW!

With BetterCreditPro, we follow all the laws of the Fair Credit Reporting Act to dispute and attempt to eliminate any inaccurate files on your credit report.

Go here : http://mshocair.bettercreditpro.com/ and simply fill out the form .

Good Luck .

Answer 7

Paying your bills on time
Not requesting any loan or credit agency to check your report
Gettting rid of high balances
Closing credit card accounts if you have more than 2


Most important bill to pay on time is a mortgage and car loan Keep these current at all times

Answer 8

Paying your bills on time,
Not opening up lines of credit
Not having that many credit inquiries (like when you try to buy a car and they look at your credit)
Paying your bills off in advance

Answer 9

Pay your bills on time for 6 months. This will definitely work. If there are any negatives on your credit report, submit your own comments to explain circumstances that caused you to be late or whatever.

Answer 10

Paying your bills on time for at least a year.