how do you increase your credit score?

Answer 1

35% of your score is payment history. That means pay all your bills on time. It is the biggest factor in your score.

30% of your score is debt ratio. That means, pay off your debt. If you owe a lot of money, your score will go down. Pay it off and your score goes up.

Those are the two easiest ways to increase your score. Keep in mind, if you've been making late payments, you'll have to make on time payments for 6 months to a year before you see your score go up significantly.

Paying off credit card debt can raise your score pretty quickly. If you can't pay it off, at least pay more then the minimum payment and work on getting it paid off.

Answer 2

It's all about how much credit you have, and how much of it you are using. My suggestion is to pay off all of your credit cards (I know, easier said than done), but don't close them out once they are paid off. Also, when anyone queries your credit score (when applying for a credit card, or any type of loan) this has an adverse effect on your score. Also, keep an eye on your credit report for any old debts or anything that is unfamiliar to you, and take steps to get that info removed.

Answer 3

Ok… this is all you need to do to quickly improve your credit report in just a few days! It worked perfectly for me. Read the entire instructions…

1. Go to annualcreditreport.com (this is the only true free credit reporting site, but you can only get it once a year) or some other site to print up your credit report with information from all three bureaus. Pay for it if you have to… it’s worth the $29.

2. Next make three copies of the report.

3. Circle the items that you want removed/have questions about on each copy, but only for the bureau you are planning to send it to. For example, the copy you plan on sending to TransUnion… only circle the items in question that are listed for TransUnion. The less confusion… the better…. You don’t want TransUnion looking into items circled that are with Experian.

4. Then Hand-write a separate letter to each of the 3 bureaus… simply stating…


-Date-

To whom it may concern,

I have enclosed a copy of my credit report. I would like verification of the circled items.

-Signature-

5. Lastly, look-up the addresses to each credit bureaus and send it off, this will usually be on the report itself. Do not use a return address!

The credit bureaus then have to request verification from the creditors. The creditors, by law, have 45 days to respond. If confirmation that it is a valid debt is not received within 45 days, the credit bureaus are required to remove the blemish from your report. Typically, if the debt has been satisfied, or been sold to another creditor… the creditors won’t bother responding and it will be taken off your report after the 45 days.

Do not try to complicate the process… keep the letter as simple as above with no return address and DO NOT use the online credit improvement tools.

The credit bureaus typically send a corrected credit report to the last address listed on your report after that 45 day period. If you don’t receive this, check/pay for an updated credit report after about 60 days.

If something does come back as valid or still showing on your report, you can pay off the debt, but be sure to ask the creditor to remove the debt information from their system. The creditors automatically contact the credit bureaus to list the blemish as “satisfied”, but this is not enough since it will still show on your credit report. So, all you have to do is follow the same process listed above and since it is hopefully not in the creditors’ system as you requested or they don’t care anymore… they will not respond to the bureau and it will fall off your report. And your final report will be free and clear!

If everything does not fall off simply follow the process again every 45 days or so.

Again… be aware that you still are legally obligated to pay any outstanding debts, but you will be happy when the blemishes fall off.

Answer 4

pay of things that are on your credit report