how i can improve my credit score?
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You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “how i can improve my credit score?”.
Stephanie
I bought these programs and they have helped me improve my credit and credit score. They may seem a little pricey but they have paid for themselves over again. Depending on how much loan you need they have links that might help. I noticed some the last time I was at the site. My daughter who went bankrupt bought them and she has improved her credit in just months after the bankruptcy. So I have no doubt you would improve yours. go to comingbackstrongfinancially dot com. Thats all I can advise you to do.
David
The best way is to make sure that your debt-to-income ratio is lower than what you earn. For example if you make $25K and your debt is $60K, chances are you won’t get a loan. It takes time to raise your score, just don’t amass any unneccessary debt, and pay your bills on time. Speaking of paying your bills on time. There’s an agency that actually reports your payments and compiles them into a score that can be used in addition to your regular credit report. Anything thaty you make a payment on (rent, cellphone, utilities, day care, etc) can all be reported. I sent a link to the website. It also has a billpayment feature as well that automatically reports all the payments you make
Rodney
What I did was get a credit card and ONLY use it for gas. Then pay it off every month. It’s not an instant credit builder. But what is.
Linda
Stop trying to borrow money & you won’t need a credit score. My goal in life is to have a 0 credit score.
Please get the following books immediately, before you do something you regret:
1. Dave Ramsey “Total Money Makeover”
2. J.J. Luna “Skip College”
I hope you don’t think I’m being witchy. I have been dead broke, but I am not anymore. Borrowing is not an answer to any question worth asking.
Johnny
You pay your bills on time (which is good), but you may have either:
Too short of a credit history (credit card accounts are new) Usually once you have at least a year or two of on time payments it should raise your score.
Too much available credit
You have too many open accounts, even if you don’t use the cards, they are still available. A lender may take that to mean you will max them out and not be able to pay all of them off.
Other factor: how much you are trying to borrow (your income may be too low to make the minimum payments the bank requires) There is a formula called Debt/Income Ratio that lenders sometimes use to see if you can afford the loan.
Another suggestion is to double check your credit report from all 3 credit bureaus (Experian, Equifax, TransUnion). Sometimes there are things reported on one that are not on the others.
And for goodness’ sake DO NOT take a “payday” loan!!! They are rip offs!!
Julia
Improving your credit score doesn’t happen over night…it takes time. It’s hard when you are just starting to build credit, but you just have to do some shopping around. What kind of loan do you want to get? I would start there and ask for tips and advice on how to get specifcly (spelling?) What you are looking for.
Eileen
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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Gerald
Bad credit can frustrate your efforts at getting a credit. Hence ensure you keep your credit report clean. If there are any errors in the report, undertake credit repair to clear out any errors. This can be tiring and frustrating, but highly rewarding. Though law recognizes and protects your rights, it is your duty to remove any anomalies in
Tiffany
In order to build up credit and establish a good credit, you must show a number of stabilizing attributes. Most notably, your report must prove to the lender that he will get his money back. Here are some suggestions:
OPEN A BANK ACCOUNT
Open a bank account and use it responsibly. This is the first step in establishing a financial history.
CO-SIGN
One way is to piggy-back onto someone who already has a good credit history established and is willing to co-sign. Once the co-signing has occurred, you simply make payments on or before the due date. In time you will have established a credit history.
SECURED CREDIT CARD
Apply for a credit card. Shop around and only apply for a card if you can meet the lender’s requirements. Responsible use (spending within your budget and paying your bill on time) will help you build a good credit history.
DEPARTMENT AND GASOLINE CREDIT CARDS
Since gasoline credit cards are not revolving (cannot carry a balance forward month-to-month), often they are easier to obtain than regular credit cards. Similarly, some department stores offer revolving credit for a specific purchase and this is sometimes easier to establish. It is also a great way to establish credit.
This website can be very useful for you: