How to raise your credit score?

Other than maintaining your credit cards.. and paying everything on time..is there any OTHER way to raise a poor credit score?

How to raise your credit score?

In order to raise your score, first it would help to know what makes up your score:

1. Payment history- 35%

2. Total debt owed vs. available credit- 30%

3. Length of time establishing credit- 15%

4. Types of credit established- 10%

5. Inquiries and New accounts- 10%

With that said, I%26#039;ll continue with my answer. Since you already know to maintain your credit cards and paying on time, there%26#039;s a few more things to know.

1. Keep your balances low on all your credit cards. At any given time the the total balance on all your cards shouldn%26#039;t be more than 30% of your combined available credit. For example, if you have 3 credit cards that has a combined available credit of $1500, the balance shouldn%26#039;t be any more than $150 on each card, if not less. Also, it helps to regularly increase the credit lines on all your credit cards when possible. The additional cushion between the available credit and the debt you owe is critical to your score.

2. Monitor your report regularly. A lot of times negative items that are incorrect, or not even yours altogether can bring down your score. It%26#039;s important to dispute each and every incorrect negative item on your report with the credit bureaus. There%26#039;s no sense in letting your credit take the fall for something that%26#039;s incorrect, or even worse not even yours.

3. Don%26#039;t load up on just credit cards. Credit cards, which are cconsidered revolving accounts just one of two types of credit that can be established. Installment credit is the other type. Examples of this is furniture and appliance loans, car loans, personal signature loans, some payday loans, student loans, and mortgages. A good example of a balanced mixture of credit would be 3 credit cards (2 major, 1 dept store) and 1-2 installment accounts (car loan, student loan, furniture, appliance, etc).

4. Don%26#039;t apply for too much credit. Credit is designed to be used sparingly over time. Each time you apply for credit, regardless of if you%26#039;re approved or not, it creates a %26quot;hard inquiry%26quot; which drops your score 5-10 points. If managed properly by not going overlimit and paying on time, you can get significant increases to your credit line to where you won%26#039;t need additional cards.

5. Don%26#039;t close out old accounts you%26#039;re not using, as a matter of fact, start using them again. The old accounts you have that you%26#039;re not using is and has been the backbone of your credit. Accounts that have been opened for several years (at least 3) are considered %26quot;seasoned accounts%26quot;, which in most cases outline how long you%26#039;ve established credit. Close the accounts, would shorten the average age of all your open accounts making it look like you%26#039;re establishing credit more recently than you have. If you don%26#039;t use the accounts, the bureaus don%26#039;t report inactivity, so it doesn%26#039;t help your score. So the easiest thing would be to use them lightly to where the balance equals the minimum payment every month, or something that you can easily pay off, and then do it again, so that the account can start showing activity.

How to raise your credit score?

Get a loan.

How to raise your credit score?

Pay down the balances on your existing credit cards (lower debt to income ratio, the better).

Pay a company to add you as an authorized user to a person%26#039;s credit card that has a really good history on that credit card. It can make your credit jump a bunch. You must provide your information, and you know nothing about the credit card holder (so you can%26#039;t scam them or use their account). It does work and is legal.

How to raise your credit score?

pay your bills on time

Keep your %26quot;Revolving%26quot; debt/credit ratio low (atleast %26lt;30% which is national average)

do not have too many of the same kinds of credit... disperse your credit between different kinds... Loan, Mortgage, Credit cards, store, gas... etc. Having too many Credit cards will only hurt you.

Do not, under any circumstances, close your revolving accounts. Keep it at zero and hide the card if need be.. but dont close it.

Keep an eye on your credit.

Keep control of your expendable cash flow.

Since i dont know your income or how bad your credit is... i cant totally help... but these things have helped me... and Im debt free (except for my student loans) and Im 32.

My credit has gone up 25 points in6 monthes (the last time i checked) and it shoudl be still climbing.

Take the time to learn how to improve your credit.

Some companies... liek the one i use to check my credit give you tips and show you what your credit could be should you do thte things it tells you to do.

I use Equifax, at Equifax.com...

I check my credit atleast once every six monthes. but i have score watch which tells me if anything has happens which negatively affects my score etc.

How to raise your credit score?

You could check into some sort of add a tradeline program. I used one I obtained after filling out a free evaluation form at www.totaldebtsolutionsllc.com and my score went up 90 points. Good luck.