How do i improve my credit score? **PLEASE HELP**?

Question

My husband has been running our credit like crazy and it has lowered our score quite a bit....and we need a new car...can someone help me out???

Answer 1

1) Stop using credit cards
2) request a credit limit increase (this decreases the % of card utilization which will help you)
3) Pay more than the minimum
4) Pay off the card with the highest interest rate first
5) Don't open up any new accounts

These are the easiest ways to improve your credit score.

Answer 2

Well you won't be able to do it in a day, but in a couple years you can have the best credit you ever had.

#1) Get your credit score and credit report. You can usually get one online or through your bank. On your report, find out any unpaid balances, collections, etc. It will give you a contact number to call. Give 'em a call and try and negotiate something (payment plan, lower interest rate, etc.).

#2) If you can, get a credit card (I know this sounds counter productive but hear me out). Use this new card to establish good payment making. Use this card for gas ONLY, or groceries ONLY. And only use it if you hav ethe cash. Once you use it, go home and immediately right a check for the charge on the account and mail it in.

Follow those two steps and I have come to believe that will turn your credit around. It did mine...

Answer 3

Have you brought this up with your husband? Are these accounts joint credit cards or are they just in his name? Do what you can to preserve your own credit score (and try to help him, too). Problem spending causes a LOT of divorces, so you both need to take this seriously. Consider having him cut the credit cards and see if he'd be willing to put a freeze on the credit report so that he can't easily apply for new cards. This has to be his decision so that there won't be resentment and so that he is changing his behavior.

Answer 4

The are no quick fixes.

The best thing that you can do, if you have the cash available, is to bring your balances down. Try to get each card into the under 50% utilization level, or even lower if you can. This lowers your credit utilization ratio.

The next best thing is to eliminate the balances on any card that has a low balance, but a disproportionally high payment. This lowers your debt payment to income level ratio.

The only other thing you can do is pay everything on time and wait. Good luck to you.

Answer 5

if u look at your own credit report, u can't lower it.. and sometime it takes time for your score to go up.. so just keep paying your bills on time..