What is the best way to improve your credit score?
After you've filed bankruptcy, what is the quickest wat to get your score back up?
Public Comments
- Pay, Pay, Pay, Pay your bills in full and on time forever...
- I'm not sure this will fix your bankruptcy, but I helped some teen friends build their credit record by this: 1. Find a credit union or bank that offers account protected, or share guaranteed loans. 2. Open an account at that bank. 3. Borrow against that money, it's usually at very low (1-5%) interest rates and it still earns interest. Overall a 2000 loan will cost you around $100+ and it will do wonders for your credit. Most people who've gone through bankruptcy don't have 2 grand lying around, but find out what the smallest loan they'll approve and deposit that amount. As you pay off the loan, the money becomes available. 2 benefits to this plan: 1. No credit check is done because the bank is guaranteed the money by your deposit. 2. You establish a relationship with a bank, in a good way.
- to raise credit score 1. Always pay on time or ahead of time. 2. maintain low balances on credit cards 3.To boost your score: Don't charge anything for at least 60 days before applying for a loan 4. 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. 5. You should have a recent history of both installment or term (Car or house loans) and revolving credit. 6.To boost your score: Don't close unused accounts when you transfer debt. 7.To boost your score: Consider opening another credit-card account or two, or taking out a car loan or small bank loan. ------------------------------ http://www.bestcreditrates.net
