What is the best way to improve your credit score?
966363
This depends on the credit profile. A file that requires dispute involves more time than a file being rescored after paying off debt but these are 2 avenues to improve credit in addition to paying bills on time. That can have the biggest lasting affect. Balances can be adjusted and scores corrected quickly but derogatory info can be a 7 year battle.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
1177350
In regards to Revolving Credit (Credit cards, etc.):\nPay down the balances to within 20-30% of your total credit limit. This should help to boost your scores. If you do not have the money to pay this down, call your credit card companies up and ask for a limit increase.. this will automatically allow your debt to limit percentage to lower.\n\nIn regards to Installment Loans: If you have ANY loans with high risk lenders (i.e. American General Finance, Well Fargo Finance or any other company with "Finance" in their name) pay them off quickly, or borrow from your local bank / credit union to pay them off if possible. Due to the risky nature of these lenders, the fact that you have this type of loan will hurt your scores. Paying them off will boost your scores.\n\nIn regards to credit mix:\nMake sure you have a balanced mix of types of credit... in other words, you should have 1-2 credit cards, 1-2 loans and possibly a mortgage. This shows good balance in credit and a healthy score should be given.\n\nOne last tip: Although they claim it does nothing to improve your score, mortgage lenders across the US have found that by requesting to Opt Out of the credit bureaus mailing lists (that they sell!) you may see a boost in scores in about 10 days... usually small, but it might push you over the goal you need. See the resources for the link.\n\nGood luck!
147290
Step 1.  Obtain copies of all 3 credit reports.\n\nStep 2.  Review the information on those reports carefully and dispute any inaccurate information.\n\nStep 3.  If you have credit cards with high balances, pay the down NOT completely.  Having credit card with a "0" balance is not good....they refer to it as "under-utilization of credit."\n\nStep 4.  If you don't have a savings account, open one and apply for a signature loan with the bank using the savings account as collateral.\n\nStep 5.  Pay this loan early.....not right away......if you choose a 12 month payback, pay it off in 6-8 months.\n\nStep 6.  Repeat step 5\n\nStep 7.  Do NOT apply for credit of any kind during this process, inquiries will cost you 2-6 points for each one.\n\nStep 8.  Do pay everything on time or better and monitor your credit report quarterly to ensure that everyone is reporting accurately.\n\nFollow these steps and your score will increase signifigantly.....not the fastest way, but the ONLY way to guarentee yourself improvement.\n\nGood luck and take care
48916
You didn't really ask a question, but it seems to me that you would do well to establish a better credit score. The link below gives a lot of good information on how to do that.
42721
Getting good credit is not an easy road. Whether you choose to get a Credit Card, A Store Revolving Credit Card, or even purchase a car, you've got to be very very disciplined. \nI suggest never purchasing anything with a credit card that you couldn't with your bank card. At the end of EVERY month, pay off the entire balance.\n\nDo not apply for many credit cards. Find the credit card with the best terms and interest rate, apply once, and watch it carefully. \n\nYou're Credit Score is determined by your credit limit, your credit/debt ratio, length of time of your credit history, payment history, credit inquiries, etc.\n\nI suggest checking your credit report for free. You can check it once per year per reporting agency. I suggest checking one agency every 4 months (=12 months). Checking your own credit report does not hurt your credit score. If you purchase a score with your report, usually they'll give you suggestions to improve your score.
114100
Unfortunately there is not way to repair your credit score quickly, that's why it's imperitive that you keep up with good credit practices...\n\nI would get a department store credit card and buy something every month, and then pay it off right away....that same day even....doesn't have to be anything big....you just need to establish good payment history. \n\nIt will take at least a year of this and no other blemishes on your record to effect your credit score.
1146659
Living with debt or bad credit can be very stressful, but help is closer than you realize. Improving your credit rating requires that you take positive action and change your attitude toward money. \n \n   \n  Steps:  \n1.   Request a copy of your credit report from a credit bureau. If there is an error, write to the bureau and ask it to fix the mistake. It might also help to contact the creditor who reported the error. Some creditors will contact the bureau on your behalf.  \n  \n2.   If the bad marks on your credit report result from outstanding debts, repay them as quickly as possible. Pay off those with the highest interest rates first.  \n  \n3.   If your debts are overwhelming, contact a nonprofit credit-counseling organization to work out a debt-consolidation plan. A counselor will help you consolidate your debts and will contact your debtors on your behalf to reduce or eliminate finance charges. This can reduce your monthly payments by up to 40 percent.  \n  \n4.   Steer clear of any services that offer you credit-repair or debt-consolidation loans. These companies will plunge you further into debt. Be suspicious of any company that advertises aggressively or sends unsolicited mail or e-mail.  \n  \n5.   Close your credit accounts and cut up the cards. Sell valuables or liquidate assets that will help you repay your debts. Buy the bare essentials (food and gas) and use the rest of your earnings to pay off your consolidated debts.  \n  \n6.   Work with your credit counselor to repay all of your debts. Meanwhile, live a life that will help you re-establish good credit. Pay rent and utilities or mortgages promptly, keep the same residence and job, maintain savings and checking accounts, set a budget and stick to it.  \n  \n7.   Once you have repaid your debts, apply for a new credit card to build a good credit history. It might be easier initially to get a department-store or gasoline credit card or one from an employee credit union.  \n  \n8.   Promptly pay off the balance of the credit card monthly to build good credit. Use the card responsibly.  \n  \n9.   If you don't qualify for a regular credit card, apply for a secured one. With a secured credit card, you fund an account up front and then "charge" expenses on it. This card will show up as a credit card on your credit report and, if used responsibly, can help you build a good credit history.  \n  \n  \n  Overall Tips:  \n Get a copy of your credit report once a year even if you think you have good credit. You may find errors that will damage your credit rating.  \n  \n Filing for bankruptcy is always an option, although your credit history will reflect it for 7 to 10 years, making it very difficult for you to get a car or home loan in the future.  \n  \n Creditors agree to reduce or eliminate interest rates under a debt-consolidation plan because it saves them the expense of collection efforts and increases their chances of recouping the balance.  \n  \n Every application you make for a credit card shows up on your credit report, and multiple applications can hurt your credit rating. To avoid this, use an online service that matches you with creditcard companies that will extend credit to you. Search online for "credit card finder" or "credit card search."  \n\nNo matter how bad your credit is, you can take steps that will make it better. \n  \n1.   Pay all of your bills on time. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.  \n  \n2.   Reduce the number of credit cards you carry. Write to your creditors to request that they close your accounts and report this status change to all three credit-reporting agencies.  \n  \n3.   Avoid bankruptcies, tax liens (a lien for not paying state or federal income taxes or property taxes) and collections. A bankruptcy stays on your credit report for up to 10 years. Collection accounts and paid tax liens stay on for seven years, and unpaid tax
23261
There is no clear cut answer to this question. Your credit score is not good at all. No matter what card or loan that you apply for, you will end up paying higher interest rates. \n\nThe best way to get lower rates is to increase your credit score. To increase your score, pay your bills on time, stop charging as much as you do now, and try to pay off as many cards as possible.
942390
You sound in great shape.  Just make sure that you always pay your credit cards on time.  This is the most straightforward way to increase your credit over time.\n\nI heard from other people that seactivating your credit card can decrease your credit score.  Just don't use it instead of cancelling it/them.\n\n\nFor more info (under credit section):\nwww.freewebs.com/infosource100
224192
5 steps to better credit\n\nCorrect blatant mistakes. Your credit score is only as good as what shows up in your credit report. Review your reports from all three credit bureaus for accuracy once a year as well as several months before applying for a loan. Changing a mistake on your report - such as a payment that is wrongly labeled as late -- can take 30 days to three months, sometimes longer.\n\nPay your bills on time. This is always a good practice, and it's especially critical that you make prompt payments close to the time you need a loan. That's because a late or missed payment in the last few months is likely to lower your score much more than an isolated late payment five years ago.\n\nReduce your credit card balances. A heavily weighted factor in your FICO score is how much money you owe on your credit cards relative to your total credit limit. Generally, it's good to keep your balances at or below 25 percent of your credit card limit, said Jeanne Kelly, founder of The Kelly Group in Brookfield, Conn., which helps clients improve their credit scores.\n\n\n--------------------------------------------------------------------------------\nTry CNN/Money's new Debt Reduction Planner for help wiping out credit-card balances.\n\n\n--------------------------------------------------------------------------------\n\n\nPay off debt rather than moving it around. Since the ratio of your credit card balance to your credit limit is key, closing out an account and transferring the balance simply means you increase that ratio, which is likely to lower your score. In other words, say you owe a total of $2,000 on four credit cards, each of which has a $2,000 limit. Your total credit limit is $8,000, of which your total balance ($2,000) accounts for 25 percent. If you transfer all your balances to two cards and cancel the other two, your total credit limit is reduced to $4,000, and your $2,000 balance now accounts for 50 percent of that limit.\n\n    \n \n\nDon't close unused credit card accounts near loan time. If you have several credit card accounts but are only using a few of them, you'll only raise your balance-to-limit ratio if you close the unused ones. You also shouldn't open new accounts when applying for a loan if possible. If you have a short credit history or very few accounts, opening a new credit line may lower your score since you don't have a proven track record, said Jan Davis, an executive vice president at TransUnion. What's more, a new account will lower the average age of your accounts, another factor in your FICO score.
1125032
A tough lesson from the School of Hard Knocks.\nHopefully, others will learn from your mistake.\nAlso know that the sooner you begin to make good payments on your credit lines and the longer you continue those good payments, the better your score gets.\nYou should get a copy of your credit bureau report and go through it with a fine tooth comb just to make sure there are no errors that may be costing your points on your score.\nIf you can improve your score even 10% that's good.\nAlso, if you had any bankruptcys 6 years ago, you just need to hold on one more year.  In most cases, they come off after 7 years.
1059603
I have answered this question in a 5 part series. There are a few items that can be done to build credit. Here are some quick ideas:\n\nThe fastest way is to have a family member or friend put you on a credit card of theirs as an authorized user. This allows the history of that account to report to your credit as well, but you never are in debt. (Just be careful that the account you are added to is a good one!)\n\nHowever, this is not a long term solution for good credit... try these for solid established credit over the long haul....\n\nOpen a Credit Union account and get them to provide a secured loan against your savings. If you have bad credit, most traditional and national banks will not give you a loan. They usually want good credit for that.\n\nGet a secured credit card and only use it for gas purchases, once a month and pay it off each month. No debt, but always paid on time... does wonders!\n\nBuying a car can help, but you will have a very high rate with limited or no credit.\n\n\nCheck out the resources below for all the details and more ideas.
340944
you can get an awesome card that will help you increase your credit score (guaranteed) or help you establish credit on www.entrustsystems.com/wow
1134338
You don't need to go into debt to build a better credit score.  Establish a checking/savings account and pay off all your utility bills on time and you'll have a great start.
3466
There is no way to improve your FICO score fast unless there are inaccuracies on your credit report. Those you can challenge and have removed. Otherwise, you must take the time required to show lenders that you are a good credit risk.
35279
Good Credit is like trust. It can be lost in a flash but takes a long time to build.  \n\nIf you have screwed up your credit - the only thing you really can  do is get everything back on track.  Every bill paid, and stop being late.  Then just keep on track for the rest of your life.  \n\nover the years your credit will recover and then start to become better and better.  The best thing for growing credit is time.  So keep all your oldest cards and pay them off but DON'T close them.  Keep them open because they are a record of how long you have had your credit.  If you remain in good standing with a credit card company that you opened say when you were 20 - and then you have it till your 40 - you will have 20 years worth of history with them - that is a good thing!! even if you don't use it all the time.   Just keep it open always.\nGood luck with it.
643642
Get a secured one. That is one where you have to make a deposit into a special account and then as you use and pay the card you re-establish your credit. It is a lot safer than getting one with a really high interest rate(19-29%) that I might add is compounded daily. Also for good reference, it is better to pay it all off as you charge rather than carrying the balance forward that's how they make all their money on you only paying the minimum due.\nGood luck with improving your credit rating.