What can I do to obtain a better credit score on my credit report?

Question

I'm only working part-time and going to school full-time. It looks like its going to be like this for the next 3 years or so. I need any advice/suggestions on how I can clean up my credit report.

Answer 1

I always tell my clients to start small. If you try to attack cleaning up your report all at once, it can be very intimidating! Here are the steps I would take:
1. Pull a credit report from all three credit bureaus. You are entitled to one free credit report per year per bureau.
2. For your open accounts, make sure that you are current and not over your credit limit. Get current and stay current with those.
3. If you have judgments or liens, make those your first priority to settle/pay off. Those blemishes are huge.
4. When it comes to your collections accounts, start with the one that has the lowest balance first and work your way up.
Keep in mind that once it's the "collection" or "charge-off" status, you can try to settle the account (or pay less than the amount owed). There is nothing wrong with negotiating!
Make sure you request a receipt each time you pay something off. Send those to the credit bureaus each time in order to get your report updated.

Good luck!

Answer 2

If you already have a credit care or loan, make sure you make all payments in full and promptly. If you do not have a cc, perhaps the bank where you have a checking account would let you get one with a low limit. Make only one or two smallish purchases a month and pay it off on time. That will help the most.

Also, examine your credit report every year for errors. That can also mess up your credit rating. You can get a free report once a year from the site below:

Answer 3

Pay more than the minimums on your credit cards. Pay in full if you are able. Maybe one card at a time, but try not to carry the out of sight interest balances!!!!

Do not take every credit card offer that comes down the pike. The more inquiries into your credit, the lower it goes.

Answer 4

THE previous answers seem to have missed your comment about wanting to"CLEAN UP MY CREDIT REPORT: !! 1/Immediately pay off and close all but one card!!! If you have a "DIRTY" report history, you will never receive a good "clean" rating.. Bite the bullet...After starting to accomplish the foregoing, ask for a credit report rating to be sent to you bi-monthly to be sure it reflects your change in status!! Buen suerte..