I have 2 credit cards now, one with $600 credit limit I have had for 6 months now and the other with $400 credit limit had this for a 1 1/2. I have a credit score of 650 and would like to raise my credit score. The only other credit I have is a car payment that I have never been late on and a student loan that is going to be payed off in acouple of months. I would like to higher my credit score, would getting another credit card help my credit score?
2007-07-17 09:39:53 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
No
Keep doing what you're doing, I think having more credit cards hurts your credit score.
Low/No Balances, On time payments and paid off loans build your credit.
2007-07-17 09:51:24 · answer #1 · answered by Helpfulhannah 7 · 0⤊ 1⤋
5 not to miss things for a good credit score
1. Use the credit card only when absolutely essential. Pay your regular expenses by cash or a debit card. This will help you budget and not go overboard with credit card debt.
2. Follow repayment schedules like religion. Don't miss out and invite late payment fees, increased APR rates and blocked reward programs.
3. Don't stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest.
4. Get rid of multiple credit cards. Although this might sound difficult, but if you are struggling to repay on time and, juggling with the repayment dates is causing you to default- it's time to think. If there is a genuine need to keep multiple credit cards, then try to automate their monthly payments. This will ensure that you don't default unwillingly and face the negative consequences. Read more from: http://www.credit-card-gallery.com/article/264,5_not_to_miss_things_for_a_good_credit_score
2007-07-18 00:09:15 · answer #2 · answered by alexa dion 3 · 0⤊ 1⤋
No you may not. it somewhat is against the coverage of the credit card companies. you have a pair of thoughts. a million. enable them to refund it to the closed account. this provides you with a detrimental stability on the credit card. you may then call the corporate and request that they deliver you a verify. observing the credit card company this would take approximately 2-3 weeks to get the verify to you. 2. some shops will refund it to a save present card rather of a credit card. you nonetheless can not get the money returned, yet once you will this save returned and that they'd try this it must be an determination.
2016-09-30 05:12:12 · answer #3 · answered by raj 4 · 0⤊ 0⤋
a fico score is a "I love debt" score... the more debt you get and pay on time, the higher your score "could" go up.
take on more debt to get your fico score up? Not a good plan at all..
you don't need the credit cards.. paying the car payment on time and never being late will help your fico score.. over time...
why do you want a higher score? so you can borrow more? I'd be careful about getting in too deep with debt.
2007-07-17 09:49:25 · answer #4 · answered by Anonymous · 1⤊ 1⤋
The best way to "higher" your credit score is to keep doing what you're doing. Keep your credit card balances to less than half your limit if possible.
2007-07-17 09:44:02 · answer #5 · answered by Anonymous · 1⤊ 0⤋
You can help your score by paying the full amount due each month on your credit card. Too many cards signal a problem to perspective lenders.
2007-07-17 09:48:08 · answer #6 · answered by nita5267 6 · 0⤊ 1⤋
Maybe you can try below website to get the information you need. It's about increase your credit score articles for your second opinion.
2007-07-17 20:01:07 · answer #7 · answered by Barbara S 2 · 0⤊ 1⤋
Your doing a great job, it just takes time for your score to go up and when your done with the student loan it will go more
2007-07-17 11:04:36 · answer #8 · answered by shorty21 5 · 0⤊ 1⤋