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Any tips on increasing your credit score?
- Thread starter MuffD
- Start date
Pay everything on time. Missing one payment can drop a bad credit into disaster. I saw a customer's CR the other day from six months ago. Scores were around 580, so nothing great. He was advised to pay everything on time and wait half a year to see how his scores were. He was fine until the fifth month and got a car payment in late. His scores dropped to around 530 from that missed payment alone.
Other than that, keep only necessary accounts open. Keep your CC limits down as low as you can. Try not to carry large balances.
Other than that, keep only necessary accounts open. Keep your CC limits down as low as you can. Try not to carry large balances.
alkemyst
No Lifer
The whole credit scoring thing sometimes unfairly penalizes those with good credit too.
There is alot of debate about it.
I am part of a class action suit (got a letter in the mail) now due to a cosignor of one of my loans who later filed bankruptcy . That bankruptcy was not filed by me, and the car they cosigned for was paid off early and never late...but whenever my credit report was pulled it showed up as me having the bankruptcy and also the car was part of it. It was as if I filed bankruptcy myself. The reporting agency said if they requested the 'long form' or whatever they will see it wasn't mine, but no one uses the more expensive report.
This kept me for decent credit for 7 years which were also my first in college....credit is important in college for car repairs and emergencies. Luckily I already had a Sears card and a couple real CC's or I would not have been able to work that out.
There is alot of debate about it.
I am part of a class action suit (got a letter in the mail) now due to a cosignor of one of my loans who later filed bankruptcy . That bankruptcy was not filed by me, and the car they cosigned for was paid off early and never late...but whenever my credit report was pulled it showed up as me having the bankruptcy and also the car was part of it. It was as if I filed bankruptcy myself. The reporting agency said if they requested the 'long form' or whatever they will see it wasn't mine, but no one uses the more expensive report.
This kept me for decent credit for 7 years which were also my first in college....credit is important in college for car repairs and emergencies. Luckily I already had a Sears card and a couple real CC's or I would not have been able to work that out.
Vic
Elite Member
holden j caufield
Diamond Member
does paying your phone bill late matter? Registered for sbc ebill and it took awhile for them to even let me pay my bill online. 2 months late. They don't seem to mind though
My utilities and cable have never shown up on my report. I've been late numerous times (even had the power cut a few times b/c I get lazy and forgetful) and it wasn't anywhere on my report.
If you go to a doctor and forget to pay it (or don't pay it) and it gets turned over to a collection agency, it will be on there. Anything through a collection agency is going to be on there.
batmang
Diamond Member
the best/easiest/fastest way would prolly be to just get a credit card, use it like when you can, i use mine for a gas card and make payments on it. if my minimum is say.... $10, id pay $15. the goal is to not pay the min., but not pay too much either, that way you pay for some interest and make the cc company money. you pretty much pay for credit scores.