my credit score is 470 )= what would be the best way to raise it?

i need to raise it about 100 points but how do i do it? if i started paying off creditors how much would it go up?

Public Comments

1. Get a credit card, and use it. Then when the bill comes in, pay off the minimum balance on it. This does take a while, so be patient.
2. Get on a budget. Live within your means. And pay all your bills on time. If you are over your head in debt, have a garage sale, get an extra job, sell your expensive car/truck, then pay off your debts and start living on what you earn. After a year, your score will be up dramatically. Sorry, it is tough, but it can be done. Don't quit or give up. Show who is in control of your money. YOU ARE!!!
3. Let me be honest with you....with a 470 score you are at the bottom of a deep well. Even raising it to 570 will only get you some poor risk loans at a high interest rate. It's going to take a couple of years of work to get this built up. You give no details about your situation, so I can't give you much advice. Below are some of my favorite sites that deal with credit repair. Read up. Search through my past responses to other people's answers for even more help. Drop me a line if you need more advice.
4. Depends on what you did to get it down so low. Late payments? Not paying the minimum on you credit cards or store credit cards? Not paying your utiliities, phone, cable on time or not at all? Bounced checks? You have a job ahead of you. Go to every creditor you have and try to negotiate a better interest rate or payment plan. Get a secured credit card. This is one where you deposit money towards it and your limit is the amount you deposited. Contact the company you used that gave you your credit score. Get your credit report, you can request and get 1 once a year free. See if everything is accurate. Then ask them for advise. Also go to the web sites of the BBB, SBA, EEOC to see what services they have. Just starting to pay your bills will help, but QUIT CHARGING THINGS! Not the easy answer you wanted, but unfortunatly, this is the hole you dug for yourself. Trust me, you are not alone and if you do these things it will get better over time.
5. First understand that the credit report is a snapshot of how well you pay the bills that you have on credit. So, do you understand what is dragging it down. Is it possible that some expenses do not belong to you? Have you co-signed with someone on a loan that isn't being paid back on time? There may be some services you are paying for in cash that you are not getting credit for, because it is a cash transaction. You may have too many open accounts that arent' being used. If you're renting and looking to purchase a home, put yourself in the hands of a good loan officer who will go over your report with you, and make suggestions on things that need to be dealt with. For instance, is there a vehicle that you've been given a judgement on, because you turned it back in before paying for it? Could the difference be negotiated down? Don't immediately start paying off creditors until you talk with a loan officer. You may inadvertently pay off something that you've already paid for, but for which you have not been given credit for. It will work out for you, if you continue having patience with yourself.
6. There is a free consumer site at http://www.bad-credit-credit-card-for-people-with-bad-credit.info/ that has valuable free information for people looking to restore their credit rating.