Credit question: Will this help me.. Significantly?

[FortFunFoSho]

So I have two credit cards. One has a limit of 500 and I dont ever use. the other has a limit of 1000. I use it and pay it off constantly.

I have one negative comment on my credit report.

People have told me to just use your card and pay it off and that will help me out. But I have seen no positive feedback.

Could I take out a loan for say 1500 with a co-signee and pay it off the first month. Would this give me any sort of positive feedback?

 

[RagingBITCH]

There's no positive benefits to carrying a balance on your credit card. The only real thing that's going to negate your negative comment is time for the most part - building a longer credit history will do more than getting a loan for a month, which I don't think would help at all.

 

[RossMAN]

Originally posted by: FortFunFoSho

Could I take out a loan for say 1500 with a co-signee and pay it off the first month. Would this give me any sort of positive feedback?

No that would result in a higher debt vs limits ratio and result another credit inquiry.

Continue to payoff your balances in full every month, do not carry a balance and pay interest.

It's going to take nothing but T I M E.

 

[Blieb]

Originally posted by: RossMAN

Continue to payoff your balances in full every month, do not carry a balance and pay interest.

It's going to take nothing but T I M E.

Exactly. FortFunFoSho, don't be a retard. You haven't mentioned what your score is, how old you are, how long you've had the cards, or how long ago the missed payment (errr, negative comment, as you put it) was.

WTF!? Just try not to fvck up and only good things will happen. Credit changes take at LEAST 2 months. IE, if I pay off my CC today, not for 2 months (give or take) will it show up on my report as being paid off.

Calm down.

 

[KK]

Originally posted by: Blieb

Originally posted by: RossMAN

Continue to payoff your balances in full every month, do not carry a balance and pay interest.

It's going to take nothing but T I M E.

Exactly. FortFunFoSho, don't be a retard. You haven't mentioned what your score is, how old you are, how long you've had the cards, or how long ago the missed payment (errr, negative comment, as you put it) was.

WTF!? Just try not to fvck up and only good things will happen. Credit changes take at LEAST 2 months. IE, if I pay off my CC today, not for 2 months (give or take) will it show up on my report as being paid off.

Calm down.

I pulled my credit report over the weekend, and it showed the balance transfer I just did at the end of January. So I guess the 2 month deal is flexible depending on who the account is with. As far as opening a small account then paying it off, probably won't do much for you. Get yourself some long term debt and don't be late. That'll show them that you can handle your finances.

KK