How do I raise my credit score to what it should be?

I just recieved a bunch of money. I used most of it to pay off all my debts. I have no outsanding loans and the history was very good. I just resigned from my last job, and found a new one a week later. I start that one in a couple of days. So of course my income for my new job has not kicked in yet. I tried to get a car loan, and everyone I go to pulls a low credit score and basically said my debt to income ratio is not good. They still see the outstanding loans, that I already paid off. How do I show that these loans are paid off, so that my credit score will be where it should be. I know its supposed to be higher.

Public Comments

1. It takes at least a full cycle--usually two cycles--before the credit reporting agencies update their records. The credit score will not bounce upward immediately to a great extent. There will be an improvement within 60 days, but a credit report is based on performance over time.
2. if you paid your debts, then get a copy of your free credit report & dispute any errors on it asap.
3. Having a good credit rating, helps a consumer get a loan or credit at better rates and for larger amounts.To know "How to improve credit rating, credit score" plz follow link- http://k7c.info
4. great question! seems like you know already some of the important factors... your salary isnt going to help your score, but it can help you get nice credit cards with huge credit limits! But let me share with you my tips that you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year -- : # Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score tracking listed below. It really helped my get my score up.) # Never Miss a Payment, Starting Today # Never use more than 20% of your Available Credit # Keep Credit Cards that Have No Annual Fees Open For as Long as Possible # Extend Your Credit Limit on Cards You Already Have before You Get New Ones # Get Credit Cards that Have CashBack Rewards to Contribute to your Balance # Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- # If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan # Take out a Small Personal Loan and Repay it Over a Year # Ask Someone With Good Credit if They will Account Shadow you Read more here: 10-Ways to Boost Your MyFico Score http://millionster.com/articles/debt/increase-fico-credit-score/ When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it... Your Credit Score (also known as your MyFico score) is calculated with the following breakdown: 35% - Payment History 30% - Credit to Debt Ratio 15% - Credit History 10% - New Credit 10% - Credit Types in Use If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score