How can I improve my credit score within the next couple of months?
My strong point is that I have paid my mortgage and all my bills on time for the past 2.5 years. My weakness is that I have 3 Visa credit cards that total $14,000. One of the cards I got strictly for 0% interest. If I close this card, will the closure increase my score a few points since it would no longer be an open line? And lastly, I have 2 dept store cards w/zero balances. We are going to re-finance our mortgage in a couple of months and I want to strengthen my credit profile if I can.
Public Comments
- You sound in great shape. Just make sure that you always pay your credit cards on time. This is the most straightforward way to increase your credit over time. I heard from other people that seactivating your credit card can decrease your credit score. Just don't use it instead of cancelling it/them. For more info (under credit section): www.freewebs.com/infosource100
- Don't close your card, just pay down your debts so that the amount of credit you owe is a lower percent of your available credit.
