with my credit ever since I paid off all my debts and closed the accounts last year, including my mortage with my inheratence from my dad's passing. My credit score has not improved since I closed these accounts. In fact, my credit score is actually lower than it was before I started. I've had no negative credit problems - I was just tired of being in debt. What is happening? Please help me improve my credit. .
2007-08-24 12:05:18 · 6 answers · asked by TxLimie 1 in Business & Finance ➔ Credit
I agree with the others.
Before you start applying for new credit, you might call any credit card creditor who you had a card with that you closed and ask them to reopen the accounts.
Some may reopen the accounts, some may not, it will not hurt to ask
2007-08-24 12:33:17 · answer #1 · answered by echo 7 · 0⤊ 0⤋
When you paid off your credit cards and closed the accounts, you closed your credit history.
Get a major credit card. Charge on it and pay it in full every month. Your score will start improving in about 6 months.
2007-08-24 19:18:35 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
Problem is you closed the accounts. Paid off no balance but credit available is a good thing, shows a good credit to debt ratio. If you closed good standing cards then you lost that ratio. ie no credit available. If they where in collections will stay on your credit report for 7 years just marked satisfied.
2007-08-24 19:17:55 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
Your credit score is not based on what you owe (or in your case, don't owe) it is based on how you pay. If you have nothing to pay your score will drop. You can get a credit card and use it from time to time and make sure you pay the bill on time and that should give your score a boost. A small loan for something will boost your score if your payments are made on time. If you don't plan on ever using your credit (mortgage, loans, credit card, etc.) you will maintain a lower score.
2007-08-26 08:48:20 · answer #4 · answered by peggy m 5 · 0⤊ 0⤋
apply for new credit cards, take highest avail credit as possible. lets say 2 cards. use on for about 20% of whats avail (ie if 10,000 limit, charge 2000) pay minimum due monthly & don't use the other. bureaus need to see high avail on cards. if you have cards now w/over 50% toward limit, pay down. also, if you have sallie mae or other low interest debt, keep it & pay off monthly. its all about revolving pymt history so if you eradicate pymts, they have nothing to go by.
2007-08-24 19:16:02 · answer #5 · answered by jennie 4 · 0⤊ 0⤋
so you owe nothing? Whats on your reports.? I think were going to need more info.
2007-08-24 19:10:32 · answer #6 · answered by Crazy cat lady >^ ^< 4 · 0⤊ 0⤋