Credit Score?
My credit score is 690. I'm only 20. I was wondering what are ways that I can improve it. I pay all of my bills on time, but is that enough? I don't want to buy a house or anything like that anytime soon. I mainly save my money, because I have a great job. But I would like to have my finances secure.
Public Comments
- Just keep being as responsible as you are now and as your credit mature your score will increase.
- Go to my website because everything I could suggest to you would be here! It's about credit repair, but those just starting out are often in the same position. Try opening up a credit card account, preferably 2 and just pay those on time and don't maxx them out and you'll see improvements! You will be especially interested in the "how credit scoring works" section.
- 690 is a great credit score--especially for a 20yr old. It is true that once you start over 700, things go a little cheaper/easier.; but 690 is not bad at all. Keep paying your bills on time and not max out your credit cards. That is one factor in scoring credit.--your balance to limit ratios. Good luck
- The myth about applying for lots of credit cards to improve you score is definately false! At 20, the best way to improve your score is allow it to increase over time by--exactly what you said--paying your current bills on time. When applying for a loan or buying a new car your credit score isn't the ONLY thing they look at, so don't rely solely on your score. They also look at your income.
- Wow 20 years old and a 690, thats great to hear of some responsible young-uns out there. Time is your friend in this matter. You're on the right track, believe me when I say continue to save your money! Don't waste it on a new car or that Gucci purse or whatever, just save the cash and pay all your bills on time. Credit scores don't rise overnight it takes time and consistent payment history. Only thing I can think of that might, might help you out a little is a credit card. Charge a tank of gas a month or something like that and pay it off before your intrest kicks in. Good luck and keep up the good work.
