I just paid off my bad debts Im still trying to get them all to show up as paid in full on my credit report. I also just bought a new car a few months ago and I have been making double car payments each month. I also have gotten 3 small credit cards in the past 6 months that I always pay on time with or sometimes even just pay off monthly. Other than that all I have is deferred student loans that show up as pays as agreed. What can I do to higher my credit score as I want to buy a house within the next year?
How can I higher my credit score fast?! Im talking 150-200 points in a year?
I got into credit troubles year ago and stopped using credit. I financed new vehicles so I had some credit but my score sucked (550 mid). I kept going back to the same 2 banks for auto loans so I always got the %26quot;incentivised low rate%26quot;. Less than 6 months later I am up to a 620+. Should increase another 60 in less than 6 months.
I kept applying for a bunch of store credit cards. I had two little capital on visa%26#039;s previously. Now i have everything under the sun. Macy%26#039;s, Nordstrom, Radioshack, Target, etc. I went out and bought something on each card (ran up balance to less than 50%, all are $5-600 credit limits). I set up automatic payments with online banking and just watch my score increase each month.
How much house do you want to purchase?? If it%26#039;s not too high you can try a FHA loan. It%26#039;s a gov%26#039;t program that doesn%26#039;t use fico scores. Based on housing prices in your area/county.
-12 years experience, auto finance/mortgage lending
How can I higher my credit score fast?! Im talking 150-200 points in a year?
How to improve my credit score? To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your score%26lt;!--you%26#039;ll get your credit report, an indication of how your score ranks nationally and an explanation of how you can boost your standing.
http://badcredits.awardspace.com/credits...
In order to improve your credit score, it%26#039;s important to know where you stand currently. Despite all the media attention given to free credit reports--%26gt;you still have to pay to find out your credit score, the three-digit number ranging from 300 to 850 that is the key to your borrowing costs.
How can I higher my credit score fast?! Im talking 150-200 points in a year?
only time will get your credit score up
you may have paid off your bad debts
but they will be shown as lates ( i%26#039;ll assume you have late payments ) and that will keep your score lowered until the debt rolls off, getting too much credit in short time also hurts your score since it reflects in your ability to take on too much debt too soon
How can I higher my credit score fast?! Im talking 150-200 points in a year?
Keep making payments on time and don%26#039;t open any more credit cards. Opening those 3 cards in a short period brought down your score a little just for that. So just pay what you have and on time every month. Time is the only thing that is going to raise your score. Your score represents items on your credit report, which is built over time. And good job paying off your bad stuff - things can only improve from here,
How can I higher my credit score fast?! Im talking 150-200 points in a year?
Don%26#039;t open anything new, but don%26#039;t close anything either. Making double payments won%26#039;t help either. Get a copy of your report and dispute anything that%26#039;s not right throught transunion.com. I%26#039;m a mortgage lender, you%26#039;d be amazed what a year can do for you. Start saving the extra car payments you are making for a down payemtn. 3-5% at least. Good luck!
How can I higher my credit score fast?! Im talking 150-200 points in a year?
Stop applying for new credit. Three new cards and a new car loan all in the last few months makes it look like you are increasing your debt. If your cards can be consolidated onto one account, do so. Close out cards you don%26#039;t use/need, particularly department store cards or gas cards. Make all payments on time. Do not make minumum payments. Try mot to use the credit cards, this way you balances will go down. Besides...you don%26#039;t want to go buying a bunch of stuff that won%26#039;t work well in your new home! :-)
How can I higher my credit score fast?! Im talking 150-200 points in a year?
Let me share with you my tips that you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year -- :
# Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score tracking listed below. It really helped my get my score up.)
# Never Miss a Payment, Starting Today
# Never use more than 20% of your Available Credit
# Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
# Extend Your Credit Limit on Cards You Already Have before You Get New Ones
# Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
# Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
# If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
# Take out a Small Personal Loan and Repay it Over a Year
# Ask Someone With Good Credit if They will Account Shadow you
Read more here:
10-Ways to Boost Your MyFico Score
http://millionster.com/articles/debt/inc...
When you%26#039;re trying to build a solid credit score it%26#039;s important to get a comprehensive view of what is actually effecting it...
Your Credit Score (also known as your MyFico score) is calculated with the following breakdown:
35% - Payment History
30% - Credit to Debt Ratio
15% - Credit History
10% - New Credit
10% - Credit Types in Use
If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score
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