I was thinking of gettin a loan to pay help pay off and improve my credit score, is this a good idea?

I read that pay on loan on time and paying them off right away is a good way to improve your creit score. I had 6 credit cards (Clout Visa, Citi Bank Mastercard, Kohl's charge card, Kay Jewelers charge card, Sears charge card, and a QVC charge card.) Now I only have two cards that are open at the present time(QVC and Kohl's). Both of my open cards are almost maxed out, Kohl's has lowered my credit limit due to delinquencies, but QVC is still the same limit. The other ones are closed, I paid off Kay Jewelers and Sears. On or around 9/14/06 my Citi Bank Mastercard will be paid off. The only closed card that will be left would be the Visa. Couple days ago I recieve a letter from TransUnion, basically stating that I could get a free credit report with them and I have 4 negative items in my credit report. I think the negative items are the cards that are closed. I have been focusing on one card at a time, while paying the minimum amout due on the other cards on or before the due date.

Public Comments

1. You can have your credit repaired by removing some of the stuff on there that is not supposed to e om your report. See http://www.vrtmg.com/lswain
2. I thought you were supposed to leave the accounts open an not use them. Im still workin on my score I pay more than the minimum an always pay before the due date. I think the same applies to cable, eletric phone, ect. One more thing that is helping me is Quicken software good luck.
3. it is best if you try to keep your payments caught up so that when someone else looks at you score they can say that you are reliable and trust-able with the loans that you are going to receive from them. and paying off credit cards when you first get them is not good, the longer5 you leave a account open the better you have of a better credit score when you keep up the payments.
4. I don't think a loan is the proper way to go. I would suggest doing the following: 1) Find out the interest rate on all cards you have a balance on 2) Pick the card with the highest interest rate (we will call this "Card A") 3) Pay as much as you can per month on Card A, while STILL PAYING THE MINIMUM BALANCE ON ALL OTHER CARDS 4) Pay on time, every single month 5) Once Card A is paid off, take the next card with the highest interest rate and take the money you were spending paying off Card A and add it to the monthly payment for this card 6) DO NOT CLOSE YOUR CARDS (every time you close a card, the sum of your credit limits decreases, thereby making it look like you have less credit. Keep your paid off cards, cut them up (!!), and don't close them for a few years) 7) Don't keep spending :) Pay cash. Soon as you know it, you'll be credit card free. :)