Jun
03
How To Improve My Credit Score Quickly?
Posted ByHi, everyone. I have a few questions (ooooh I’m cheating, lol) that relate to one big question. Basically, I need/want to improve my credit score by 100 points.
How can I do that?
Does it take a while after you’ve paid a creditor for it to get removed off your credit report? How long?
Where can I get a free credit report?
Anything you can tell me would be greatly appreciated. Thank you.
5 Comments
June 3rd, 2010 at 8:52 pm
annualcreditreport.com gives a truly free report although you will have to pay for the scoreif you want it.
paying down your debt fast is the easiest and fasted way to improve your score. 40% of your score is based on debt ratio. what that means is if you have 1000 in credit and owe 500 vs having 1000 and owing 100, the second would give you a better score.
it takes 4-6 weeks after payment to reflect the new ratio and/or score. however, don’t keep requesting reports as that will decrease your score.
June 3rd, 2010 at 9:07 pm
The best way to improve your score is to make your payments on time. 35% of your score is on time payments.
Next don’t keep a big balance on your card. It does take time. Try looking in six months.
FICO.com with give you a free report, but no details. Pay the 12 bucks to see the details. Good luck
June 3rd, 2010 at 9:16 pm
you are allowed 1 free credit report a yr. Normally it takes awhile for a creditor to remove something negative unless you stay on them about it. Most of the time, they’ll do it to get you off their backs. If not ask for a receipt and you can add a statement to your credit report about that account. If you need a quick pick me up, piggyback someone elses credit. Have someone add you onto one of their accounts as a secondary user. You will never actually use the account, but you will get credit for all those ontime payments from the inception of the account. Good luck.
June 3rd, 2010 at 9:31 pm
I am the credit expert LOL. You can get a free credit report anywhere. Experian gives them. Be careful because some websites say they are free but you have to sign up for a year long service. When you pay something it can take a while for it to be reported, however, keep a copy of the canceled check, or the cashed money order. If you are going for a mortgage and they tell you that you owe money to someone, make sure you havea copy of the canceled check to prove you pay it. Once t hings are in collections it can be a while before they report you as paid. If you pay something in full, call them and ask them for a letter stating you paid. Raising your credit by 100 points is going to take quite a while.
June 3rd, 2010 at 10:26 pm
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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