Help With Credit Score - My Credit is now clean of dept, how do I raise my score?

My Credit is now clean of dept, how do I raise my score?

When I was younger I had a couple credit card problems. I finally got my act together around 3 years ago and cleared up all of my dept. I now have no outstanding depts and everything is clean. The only issue is, my credit score is now low. It states it is low because I do not have established credit (For one they do not have my job correct or my bank account information). And I can not get a credit card because my credit score is too low. It's a catch 22!! Only places I see for help are for people who have dept. I'm not in dept. I just need to raise my score. 1. how do I raise my score? 2. How do I have the correct information put on my credit information?

Public Comments

I heard Suzie Orman saying that you should keep those credit cards open, because your credit score is a combination of your open credit line and your debt. So, if you kept those cards open, keep them the same but of course, don't use them or max them out. You should check her website, and Oprah's too. They have good financial info. Good luck.
employer information has no effect on your score and banking info is never on your credit report unless you have a loan with them. go to your bank and apply for a secured credit card. pay it over 6 months time, on time, and then ask it be switched to an unsecured card. orchard bank will give you a card but it may have a couple of fees associated. pay that one off every single month.
Repairing the credit score is not that difficult provided you take these 5 simple steps into consideration. 1. Check your credit report regularly This is a must to ensure that you know your current credit score, and what is ailing it. If there are any inconsistencies in your credit report get them corrected. Keeping bills of all the transactions you make can be very handy and helpful in correcting any errors in your credit report. 2. Get rid of those extra credit cards The temptations to own a new credit card are so numerous in modern times that many of us end up with a purse-full of them without any real need. They stay there and cause a lot of problems in repayment. The confusion that comes with too many credit cards can easy lead to a missed payment and resulting penalties. Frequent defaults will reflect poorly on your credit score. So, keep only the necessary and discard the rest. 3. Repay on time Every credit card transaction is a loan that has to be repaid on time with interest. Don't ever miss out on any repayment. If you are not able to make full payments, make half, or even the monthly minimum, but don't default. This will keep you in the good books of credit card company and help your credit score. If you are not able to pay anything to the credit card company, don't shy away from them, call them, explain your problem and work out things so that a negative report doesn't land up with the credit reporting agencies. 4. Keep your debt to balance ratio low A low ratio means that you are repaying on time. This factor has carries a lot of weight while determining your credit score. A low debt to balance ratio goes in your favor while it hurts your credit report badly when this ratio is high. The high ratio says that you are not able to manage your finances well, borrow more than you can afford, and the repayment is not up to the mark-- in short a good candidate to accumulate a lot of credit card debt. Always, avoid giving this impression to the credit card companies. Read more from: http://www.credit-card-gallery.com/article/239,Credit_score_repair_in_5_simple_steps
The 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 A small loan consolidation with low interest is the best I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogspot.com/2007/07/loan-consolidation.htmlGood luck!
Secured credit cards are a great way to rebuild your credit. Most secured credit card companies require a deposit equal to the credit line your are seeking. Make sure they report your payment monthly to the major credit bureaus. Making your payments on time monthly will increase your credit rating. You will also get you deposit returned to you after one year, turning your secured credit card into a unsecured credit card.
Haha.. you know when I was younger I had similar problem with my credit so I know where youre coming from =) But good job on getting rid of your debt!!! Excellent job.. now to your question.. There's a couple of tricks I know.. hehe actually 10 I raised my score to well over 700 points fro 500 using these steps in less than a year: 1. Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.) 2. Never Miss a Payment, Starting Today 3. Never use more than 20% of your Available Credit 4. Keep Credit Cards that Have No Annual Fees Open For as Long as Possible 5. Extend Your Credit Limit on Cards You Already Have before You Get New Ones 6. Get Credit Cards that Have CashBack Rewards to Contribute to your Balance 7. Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- 8. If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan 9. Take out a Small Personal Loan and Repay it Over a Year 10. Ask Someone With Good Credit if They will Account Shadow you 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% -> History of Payments * 30% -> Debt to Credit Ratio (available credit) * 15% -> Credit History (length of open accounts) * 10% -> New Credit (are you expanding your credit) * 10% -> Credit Types in Use (varied credit types from loans to credit cards) If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score. You can read more about these tips on my blog: How Can I Increase My Credit Score * http://millionster.com/articles/debt/increase-fico-credit-score/ You're doing the right things now, just polish up and you'll be good to go! Good luck -- I hope this helps you!!