How can i raise my credit score?

I currently have a score of 544! In the past, i did have problems with credit and no money to pay it off... Therefore, i am still paying about 2000 worth. I want to have better credit, but when i apply, they deny me. Can i raise my score without a card or loan?

Public Comments

1. When your payments and payment record are about 2 years after your troubles started, then your credit score will rise. Of course if they get better sooner, then that is a bonus. Best way to get them to rise without a card or loan is to just pay on time.
2. Only time can remove legitimate negative items from your report. In the meantime, make sure to pay your bills on time going foward. The newest items on your report affect your score more than old items. The older an item gets the less it affects your score. Negative items will stay on your report for 7 years from time of first reported delinquency. My advise is to maybe apply for a secured credit card from a bank...like Washington Mutual. Make those payments on time and they will more than likely raise your limit after a year and give your your security deposit back and now you have a true unsecured card. Whatever you do, don't fall for those cards that approve anyone with bad credit. You automatically start off owing them $200.00 before you even get to use it.....they are scams. Always check the fine print. Hang in there, in time with good payments going foward, your credit score will improve.
3. restoring a good credit rating does not happen over night. It takes determination and diligence. First, the farther out you are from the delinquincies, the better your score will get. Next, when you pay it off, it will improve your score. Third do not apply for credit. Every time you do, your score takes a hit. Too many apps for credit and you can trash your score. No more than one or two credit apps a year. Here's a score simulator that you can use to figure out what you need to do to get the score up. http://www.bankrate.com/brm/fico/calc.asp
4. Stop applying for more credit. That hrts your score the most. Just keep making payments on time and as much as you can (ALWAYS pay more than the minimum) and that will help your scores go up and your balances go down.
5. Your credit score is based mostly on: 1. Length of credit history 2. Payment history. 3. Ratio of credit used to available credit. 4. Number of credit inquiries you authorized. If you cancel your card, you'll be hurting your credit ratio. (#3). You want to deliberately keep your oldest credit card open, even if you never use it. You want to always pay the minimums of each loan on time every month. You want to keep your available credit high, but actually only have balances equalinig 25% or less. You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans. You do these things and your credit score will quickly soar into the 700s. ------------------------------------------------- http://www.bestcreditrates.net