how does a person improve their credit score?

Question

besides paying your bills on time

Answer 1

There are lots of ways to improve! First off, I would recommend you go to annualcreditreport.com and get a free copy of your credit review from all three credit bureaus. (Experian, Equifax, and TransUnion) Make sure there are no errors on there, as you may have paid something off that has not been taken off of your report. Also, check for any fraudulent bills that you didn't make, and contact any of the businesses and ask for documentaion if you aren't sure.
Secondly, no matter how much your bills are, if you contact the companies directly, almost all companies will agree to a payment schedule, which means that you're at least paying something on the account, and many of them won't report you as being negligent if you're at least making the effort. Sometimes bills get out of hand, and you don't even want to talk to the credit companies, but don't put them off, the longer you wait, the more interest and late fees you will accrue.
Third, make sure to pay your bills on time! This will avoid any late fees, and you will not be reported to the credit bureaus for making late payments.
The road is sometimes bumpy and usually always not so much fun, but good credit is important when it comes to important purchases like vehicles, houses, etc.
Good luck!

Answer 2

Here are few things to know that effect your score.

1. The one we all know, pay your bills on time.
2. Keep your balances on your credit cards around 30% of the high limit. You lose a lot of points off your credit score the closer you get to your maximum balance amount.
3. What most people do not understand is that by paying your bills off each month in full is actually not establishing credit. The best thing is to keep a small balance on your cards and make your payments on time. This is establishing credit.
4. No judgments or bankruptcy's or tax liens or child support liens.
5. If you have any collections, it may hurt you to pay them off. You need to check the date it was last reported. If it was within the last 6 months you might be ok, no guarantee though. But definitely if it's older then that and you pay it off then you are showing a negative account updated to the date you pay off which hits your score.
6. Do not open any new accounts. When you do this it takes about 6 months for your score to recover.

I hope this helps you.

Answer 3

First, make sure all the information on your credit report is accurate.

Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly.

Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.

Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured credit card.

Repairing your credit and improving your credit score is a slow process that takes time.

Answer 4

There's no quick and easy way to improve your credit score. Ruining it is easy. Fixing it takes months. Just as they said get a copy of your credit history and dispute what you can to make it look more positive. Sometimes you have to do this the old fashioned way by writing a letter and sending it through U.S. Snail-Mail with indisputable proof that holds up in a court of law. Sometimes you even have to get something notorized before showing it to them. They will only believe you secondly over the creditor. If you can't prove it, they will not consider changing it. Call the creditors and try to make some sort of deal with them to pay the debt.

Answer 5

That's the answer though. Another good trick is to take on more credit... as much as you can afford, and pay *it* off every month. Also look at your credit reports and dispute anything on there you can... you may be able to get some stuff taken off.

EDIT: If you take on more credit, make sure you consolidate it onto one or two cards... the guy below is right, too many cards can bring down your score. In fact, even *applying* for too many cards can bring your score down.

Answer 6

If you have too many cards, that is a negative against you. So, you could do away with some. What you need to do is call the credit card company and be sure to write a letter too, telling them to discontinue it and make sure to say to the reporting company you initiated it.

What this does is it lowers your total amount of possible debt that could be racked up on your cards. The less you have in cards, the less you could go berzerk and go into major debt. That's the way they think. Dumb, isn't it?

Answer 7

to raise credit score

1. Always pay on time or ahead of time.
2. maintain low balances on credit cards
3. keep your total potential debt to earnings load low - If you have a card with a $15000 credit line, you may ask them to reduce it to something more realistic, like $5000.
4. I was told by an underwriter that having just two cards, a major credit card (VISA, MC) and a consumer card (Sears, best buy, etc...) is the best mix for revolving credit.
5. You should have a recent history of both installment or term (Car or house loans) and revolving credit.

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Answer 8

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Answer 9

Almost anything positive helps. Consolidate your debts, pay early, make sure you don't have any outstanding debts you don't know about.