How do I raise my credit score quickly?

Question

I need to build my score back up and I know that some stuff on your report, payin bills on time, having income to dept ratio, and maxed revolving loans effects that, but I was just wondering what other things that I could do to raise my score. I was laid off work in 2004 and was struck by Katrina in 2005 and between those problems mine and my husbands score has fallen from an 800 to below 600. We have been paying all our stuff on time and do not have maxed revolving credit, I have a full time job again and still our score will not come up what should I do?

Answer 1

get 5 banks in mind. local to you. take $1,000 to the first bank & tell them you want to put it in CD & get a loan against it to improve your credit. work an agreement with them to pay over a 12 month period. The banks will do this because if you default on the loan, they already have your money in a CD.

take the $1,000 loan & go to bank #2.
Do the same thing.
Then to bank #3. and so on & so forth.

The possibilities are endless. you can go to 20 banks of you can afford the 20 payments. 12 monthly payments on a $1,000 loan will be very small & manageable.

Within 3 or 4 months, (after the banks see that you are serious and have true intentions) the banks will begin reporting your good history of paying your loan... an WALA!!!! you score goes up & the good outweighs those bads that you have been stressing over.

=====NOTE=====
YOU MUST MAKE SURE THAT THE BANKS THAT YOU GO TO REPORT TO CREDIT BUREAUS. IF NOT, YOUR EFFORTS WILL BE MEANINGLESS TO FUTURE CREDITORS.


best of luck to you.

Answer 2

Don't worry!!!

It's easy to boost your score quickly if you know what to do! ^_^

Some of the things you'll want to do is follow the steps I have listed here and make sure you get the free credit report monitoring on the article listed below to track your progress.

Here are my 10 steps you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year -- :

# Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.)
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you

Read the full article here, it gives you an overview of credit scores, and the 10 steps in detail on page 2 .. Good luck!
http://millionster.com/articles/debt/increase-fico-credit-score/

If you have any more questions just post a comment on my blog above.

Answer 3

The only "quick fix" to your credit score is removing invalid derogatory information. Most folks have some so it's worth pulling your report and challenging any bogus information.

When I refinance my home a few years ago a charge-off from a flooring store in El Paso showed up on my record and knocked me at least 100 points from where I knew I should be. Only problem was I never even heard of this place, let alone did any business with any business in El Paso ever in my entire life. The effect was that it kicked my interest rate up 2 full percentage points. I did pay a $50 fee for a "quick re-score" but it was cleared in 48 hours after they verified that I never did business with the firm that posted the charge off to my record.

Beyond that, if you deal with smaller community banks or credit unions they will be much more likely to take your complete situation into consideration, especially Katrina, and offer you better terms than your credit score would normally indicate.

Good luck!

Answer 4

you are able to no longer try this. this is not achievable. There are too many factors interior the credit scoring technique to purposefully elevating your credit by using two factors. Inquiries shouldn't deliver down your score, yet they do. most of the climate in a credit are stupid, yet that's the way the cookie crumbles. truthfully, in case you even do something on your credit checklist (by using disputing assistance on the checklist) you ought to ok decrease it much extra. whether you're proceeding to have something valuable ensue. i've got seen it time and time returned. it incredibly is incredibly useful to look into yet another lender. i'm no longer able to believe a lender that became prepared to furnish you a private loan might exchange their ideas because of the fact of two factors - extraordinarily 2 factors with the aid of inquiries. needless to say they don't understand what they are talking approximately, that's an hassle-free problem whilst it includes credit rankings. good element, GINGER - this is totally, very achievable that the lender pulling your score returned brought about the score dip.

Answer 5

Sorry you had some difficulties, but it sounds like things are turning around. First question are you worried about your score as you are trying to borrow more money? If so then 600 score is saying, don't borrow money. I am sure there are all sorts of good reasons you want to provide, but that does not change my comment.
Positve effectst to credit score.
1. Limit inquiries.
2. Limit number of accounts with balances.
3. Limit number of accounts with monthly activity.
4. Payoff any accounts closed due to delinquency.
5. Payoff any accounts with delinquency history.
5. No account with utilization above 60%.
take care.

Answer 6

Thanks so much for all your help in finalizing the car loan for us. I didn't think such wonderful customer service still existed in this day and age! Your regular communication, kindness and assistance were very much appreciated and I will certainly be recommending ([e-mail]) to friends and family should they be looking for a loan in the future.
Email:[e-mail]

Answer 7

You can take out a loan and pay it back religiously or you can submit a letter of explanation to the bureaus that they will post to your report. It unfortunately takes more time to build back then it did to destroy it.