What are some good ways to raise my credit score?
I recently paid off all debts on my credit report, and now I am interested in raising my credit score. I'm not really sure how to do this.... No open lines of credit, no car payment... advise anyone??? P.S. Since I have paid off all derogatory accounts, how long until my credit score goes up from paying these off? or does it?
Public Comments
- get a credit card with a small limit, use it (for small purchases like gasoline, cloths, etc) and pay it off in full every month. This will build you credit score.
- well you need to be using some kind of credit in order to build credit. A small credit card paid of monthly IN FULL will raise the score. But warning the worst thing you can ever do is be late on a payment. DO NOT EVER GO past 30 days Pay your bill of when it is due- Your score will rocket if you can do this with no negatives
- In addition to getting the credit card you can get a varible APR if you decide to pay it off in full month by month. Failure to pay it off will result in extreme debt. So take a lot of caution and be sure to pay your bill.
- You have to borrow money and make payments on time to raise your score. You have to keep borrowing money and keep making payments on time to keep your score high. All your gonna get is debt. Don't worship at the alter of the almight fico score. Pay as you go. Live on less than you make and you will have money. Your income is the biggest wealth building tool you have. Don't tie all your money up in payments. No payments = cash in the bank. Check out http://www.daveramsey.com and listen to his radio show. He has lots of great advice on money and debt. It doesn't cost a dime to listen.
