credit score - good versus bad, and how to fix it?
my credit score is a ghastly 595 (stupid things i bought and negelected the bills for). as i get older, this just doesn't suffice, especially if i want to move out or by a new car. what's considered a good score, and how can i build up my score aside from paying off what i owe?
Public Comments
- Start by reading a few pages on my site: http://www.thetruthaboutcreditcards.com I talk about bad credit, good credit, and why your score is high or low. There are a ton of easy things you can learn to fix things right away. It's not as hard as you may think. First things first, is always get a free credit report and review it. Find the problems, and figure out ways to solve them asap. But check the link above and you'll be an expert in no time.
- You should consider contacting your old creditors and asking them to remove negative entries once payment arrangements have been made. I once had a major retail store credit card cancel the debt and removed the entry from my credit all together. The important thing is not to be afraid and deal with your finances proactively and live by the rule that if you can't to pay cash for it do you really need it?
- 620 is considered a good score and is typically the cut off point for the loan interest rate to next lower level. There are many tricks that you can use to quickly raise your credit score. Debt validation is effective but by far not only method in arsenal http://www.disputedemon.com/credit-score/
- A good credit score would be 720 or above. Fix your credit score by paying off anything owed, make sure that shows on your credit report. Contact the creditors in writing to work out a plan to pay off the loans. Then, don't request new credit if you still have a good and valid credit card you are using. That can make your credit score go down. If you have some credit cards you don't use, cut them up and cancel the accounts. Another way to repair credit it to pay timely on all accounts, don't pay late. This harms your credit rating. Make a budget and stick too it. Last but not least - don't use Credit Repair Clinics, they are a waste of money. Just keep paying down your debts and eventually your bad credit score will be a thing of the past. Check with one of your creditors (mortage, auto loan) to see what they have on their websites. Some lenders have help available for fixing your credit score and you can track your progress. Washington Mutual Mortgage Company has such information for their credit card members. See http://www.wamucards.com for details.
- A good Credit Score is 650 or higher. To improve your score you need to make sure you pay your payments on time and if you are going to be late contact the creditor and let them know a lot of times they will give you an extension on your payments or delay a payment until the end of your loan term..Also contact the people you owe that are reporting negative reports of your credit history with them and ask if there is a way they could help you out that you want to make things right with them and are working on improving your credit score sometimes a little understanding of the situation and creditors are more than glad to help you out. All they want is the money you promised to pay them when you signed a contract with them.
- Take care of this now! Do you live in the US? If so, you should start to watch Suze Orman on MSNBC. (suzeorman.com) She is awesome! She will get you in great financial shape, especially because it sounds like your still young. Or, go to the library and get a book on how to fix your credit. You can fix it somewhat easily, you just have to commit to doing it. It is soooo important in this world today to have good credit. My grandmother always told me to take care of my credit and I didn't and I'm still paying for it. Believe me, do this. Make it a New Years Resolution.
- Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://umgarticles.atspace.com/debt-consolidation.htm if it helps kindly remember me in your voting!.. cheers!
