How can I raise my credit score quickly?
I was thinking of using my credit card to pay my monthly utilites and then immediately paying the bill. Will several months of this raise it?
Public Comments
- Your best bet is to see what is old anything old if not paid on in 7 years by law has to be removed..If you are trying to start your credit then just go to any place that fiances through their own company ,like radio shack or Rex appliance and buy a stereo..Or anything you may need...Make sure the payments are on time,never be late...If you have bad credit then you must catch up the payments...I used to clean up peoples credit for a living...;-)That's the best you can do...What people look for above anything is your payment history was it late ,how many times,ect...
- That depends on how much cash you have for bribing a banker.
- First let's dispel a myth about credit. Let's say you have a major credit card with a $2,000.00 limit and you charge $2,000.00 every month and when you get you statement you pay it in full. You will not have any late charges but your credit file will show that you owe the credit card company the full amount of your credil limit which will lower your score. If you want the highest score possible make sure you credit card has as close to a zero balance(definitely not more than 50% of your credit line) when it is the end of your statement cycle. This is what is reported to the credit bureas. Also, watch out for credit reporting lag, i.e. you pay off your credit card in March but the zero balance may not show up on your credit report for 60-90 days. Also be careful, because some credit card companies are now not reporting credit limits to the credit bureaus but only high credit. If you haven't checked out your credit reports go to www.annualcreditreport.com and you can get all 3 for free and it won't lower your score. Only get your credit scores from www.myfico.com/12 because that is the real FICO score that lenders use. Plus you will get the top 4 reasons that your credit score isn't higher and that will give you a game plan. All of the other scores advertised on the web are worthless.
