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I used to have a lot of various collections on my credit report, but I have paid all of them off except for my medical bills. My credit report shows them as paid and closed but my credit score hasn’t improved. Will I have to wait for them to be removed from my credit report in order for my score to go up? I feel like I’m working so hard to get things under control with no positive results.

Depending on how you resolved your credit collections, these negative marks will reflect in your credit score even after you've paid them off. According to FICO's recent disclosure of credit score damage points, a late credit card payment can cost you 60-.. More

Share | Asked on March 01, 2010

My Credit Karma score hasn’t moved in 3 months. With the deletion of several negative accounts and late payments, my TransUnion FICO score has increased by 50 points. Why is this?

Credit scores are determined by a combination of your personal credit data and a bureau-specific algorithm to score the data; typically credit scores do not match from one provider to another because the credit data and the scoring algorithm are very like.. More

Share | Asked on March 01, 2010

I have no credit. How do I start to build my credit if no one will approve me for a line of credit?

The best route for first-time credit users to build credit is with a secured credit card. Secured credit cards are similar to credit cards except they require a security deposit from the cardholder, and are effective at building good credit history becaus.. More

Share | Asked on March 01, 2010

If I apply to rent an apartment and did this on 5 different properties before deciding, how much will it lower my credit score assuming the apartment owners will do a credit inquiry per their advertisement of "on approved credit"?

The impact of these credit inquiries on your credit score will depend on how each apartment owner will generate the credit check. If they request a soft inquiry, as is the case with "pre-approved" credit cards, and other self-initiated credit report pulls.. More

Share | Asked on March 01, 2010

My son is co-signer on a loan for his car at my bank, yet he still shows no credit history available; why is this so?

Co-signing for a loan should show up as an entry on your son's credit report, so double-check whether it has been accurately reported to the credit bureaus by looking at his Credit Report Card and also by requesting a free credit report at Annual Credit R.. More

Share | Asked on March 01, 2010