How can you improve your credit score?

If you buy a prepaid debit card, and pay your bills with that card, does that improve your credit score?

Public Comments

1. Surely it will. A credit card would be better though. It shows that you can borrow money and pay it back on time.
2. Keep all your credit cards below 50% of the available balance. I was surprised to find when we refinanced our home that and balance on a line of credit above 50% actually goes against your credit score! Who knew?
3. I don't think a prepaid card has any effect on your credit whatsoever. Paying your bills on time help. The fastest way to boost your score is to increase your credit limits to give you a better debt/credit ratio. According to a good friend of mine that has been in the mortgage business for 10+ years, credit is a numbers game. The better you understand it, the better you can manipulate it. check this site http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx
4. Open accounts that report to the credit bureaus: http://www.expert-credit-advice.com/building_credit.htm Pay off debt: http://www.expert-credit-advice.com/debt_settlement_service.htm Delete negative items: http://www.expert-credit-advice.com/credit_repair_service.htm
5. As another user said, the better you understand credit, the better you can manipulate it. Here's a little more information : http://financialbasics.blogspot.com/2006/11/credit-reports-and-credit-reporting.html Enjoy!