HariKariGirl

20 Contributions 453 People Helped Top Contributor

Member Since: June 2014

Most Helpful Contribution

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 249 out of 305 people

20% Utilization would be 20% of your total credit limit.  So if your credit limit is $100 than 20% would be $20.  If your total credit limit was $200 then 20% would be $40.  And so on and so on and so on.

Activity (20 Total Contributions)

Results 1-10 of 20Results per page: 5 | 10 | 25Page 1 of 2   Previous | Next

my credit score is 507 what would be the best credit to help raise my credit score

Aug 24, 2014
Question A Little Vague But Here Goes
Helpful to 118 out of 123 people

Your post is rather ambiguous so it's not easy to give you a definitive step by step.  Are you at 500 because you've never had credit or are you at 500 because you've had past trouble and made some mistakes?  Given that your question is rather broad, the only advice I could give that fits both scenarios is the following:

--  if you do by any chance have any credit cards open at that score, pay down the balances all the way.  your overall credit ratio utilization and your credit ratio for each individual card is a large part of what makes up your score.  So you want those suckers at only 10-20% of the credit limit for each card.  And pay off your charges every month religiously!!!

--  if you do not possess a credit card at the moment, then the only one you will qualify for at that score is a secured card.  i would figure out what you can afford financially to put down in your circumstances and immediately obtain one for the highest limit that you can finance in your situation.  reason for a higher limit is you don't want to go over that 10-20% usage per month and it's easier to stay within that with a higher limit.  Plus by the time you pull your score up by consistent usage and on time payment, credit card companies often grant higher limits to those that had starter cards with higher limits and showed financial responsibility.  

--  use the card every month!  safest way is to charge something that you have to pay every month and you're used to using cash or debit for, i.e. groceries, gas, cable bill.  that way you're more likely to not run into trouble at the end of the month and scramble to pay for an impulse purchase.  use the card every month, stay within the ratio and make your payment on time every month!  one late payment and you'll be setting yourself back.  Do Not go by the due date - secured cards are notorious for taking days to clear your payment.  Find out your reporting date and go by that instead.  Once it has reported immediately start to think about getting your payment in.  

By making a modest charge every month and paying in full you'll be showing positive trade history and starting to build the length of your  credit history.

-- if you're rebuilding and having a bunch of negatives on your CR's, get a current copy from each agency plus pull your fico and review all you derogatory accounts.  Put in disputes to see what falls off - you have to be diligent about that.  Educate yourself through forums - Credit Karma, MyFico Forums, and Credit Board.  I had a consumer credit company handle all the disputes for me but if you have to do it yourself know it will take time and you can read up on the proper steps to take.  Find out the SOL in your state.  And prioritize what you want to tackle paying off in debt first.  i.e. - after 7 years debts fall off your reports, and older debts, unless a major bank or credit card charge off do not damage your report as much as the ones that are the more recent.  Figure out what you can handle and which you want to tackle first.  DO NOT got for paid in full.  It will not boost your credit at all even though they will be marked as no longer owed.   Your aim is to have them removed.  Many can be done by dispute - those that cannot can often be accomplished by a pay for delete.  Read up on it and ask for advice from the veterans on the above sites before you go in for those and remember to always get an agreement in writing first from the CA's that they will honor the agreement.  9 times out of 10 a creditor will not honor his verbal agreement to give you a deletion if you just give him your payment first....

-- you can also look into a secured loan through a credit union.  the loan does not have to be for a large sum.  once again, you will be investing your own money, since it is secured but it is another rebuilding tool to boost your score so that you can get to a place where it is the lender lending you money and not the other way around.  a secured loan often really helps to optimize your credit score because you need more than one type of credit line to show diversity.  a credit card is a revolving account.  a loan is an installment account.

Hope I've offered you some helpful options that might apply to you.  And remember to keep the faith.  My scores were at 500 when I started two months ago.  Granted I've been very aggressive and hit every side mentioned above but I'm now in the upper 600's (700's on credit karma).   So educate yourself as much as you can through the forums listed, ask for advice, look at your situation and where it's realistic for you to start repairing at the moment, come up with a game strategy and just hit it.  You will start to see the rewards and progress.  

Good luck!

Chase Sapphire Preferred® Card

Jan 23, 2019
Stellar Card
Helpful to 41 out of 47 people

Application process was instant and SL was great at $29,500.  First Chase card I got with under 4 years age on my oldest credit card and AAOL at 2 years.  Happy they took a chance with me.

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 249 out of 305 people

20% Utilization would be 20% of your total credit limit.  So if your credit limit is $100 than 20% would be $20.  If your total credit limit was $200 then 20% would be $40.  And so on and so on and so on.

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 7 out of 7 people

There's a process you can follow to dispute the claims.  I found medicals on my reports and they had really pulled down my scores and none of them were for large amounts of money.

Unfortunately, you need to tackle each one seperately.  As far as knowing where the bills originated, you need to file a dispute claim via letter with each of the credit bureaus that are listing it on your report.  This forces the collection agency to have to provide information that the debt is yours, is valid and the original biller and the service that was provided.  They must do this within in a certain time frame.  This will also let you know the original date of service and whether the SOL is up on each item.  If your medical bills are past a certain date, you might see some of them fall off as the bureaus will knock them off if they are past the time frame allowed to show up as owed.  If the agency doing the collecting does not have all the appropriate and original documentation for the debt, you can also pursue this and get them knocked off your reports.

Once you get that far, you go about pursuind HIPAA dispute letter, or follow up with a second dispute letter 45 days after.  See what sticks.

There's  a whole process you can go through with medical that quite often takes a lot of them away.  For those that you end up paying, DO NOT pay the bill to settle the debt without trying for a PFD - pay for delete.  Your score does not go up because you pay off a medical bill.  If you pay a collection agency, you're going to end up with a "Paid in Full" on your report with that item sitting there until it's time for it to fall off.  Your goal would be to contact them in writing, no where in which you say "this debt is mine", simply saying that you have seen this item showing up on your credit reports and as a result you would be willing to settle the debt reporting for a deletion off of your credit reports.  Make sure they respond with a written agreement that they will honor such a request and then pay them.

You said a 'bad accident' so I assume some of the bills were large.  With all of the above I would close by saying, find out who you originally were billed by, get proof and verification of the dates, amounts, services.  Dispute and see if you can get some to fall off.  And when stuck with having to start to pay some of them, look at which ones you're capable of affording right now and which of those agencies come back with an agreement to delete for payment.  Each deletion you get will raise your score as will any that fall off of your report.  Good luck!

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 5 out of 5 people

If you're rebuilding/repairing then one credit card will not be enough.  To establish a positive file, you need to have more than one credit card reporting.  The ideal number for lifting your score and repairing is 3.  If you've managed to get one secured, you should look into taking a second one out.  Since your score is low, your options of which lenders will probably not be very large but there are enough out there to accomodate almost any credit situation.  If you don't want to deal with an HP, then look for a company that only does soft pulls.  Once you have more than one, ideally 3 rotating, with a proven on time payment record you'll notice your scores start to go up, markedly.

First Progress Platinum Elite MasterCard® Secured Credit Card

Aug 17, 2014
Helpful to 19 out of 24 people

The site is positively medieval!  Everytime I pay my bill, it updates to say that I still owe a minimum payment and the minimum payment it lists is larger than the amount I charged for the billing cycle.  Customer service tells me to disregard it and that it's a glitch that happens with the system sometimes.  So I would strongly suggest that instead of just relying on their online site or even one's paper statement that you really keep track of your charges through the month and tally the total yourself.

Other than that, I'm really pleased so far with this card.  Will be reporting for the first time this month as far as showing my paid in full balance and reviews like the above give me real hope that I'll start seeing better numbers on my CR's soon!!  (fingers crossed)

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 5 out of 6 people

Capital One is very unforgiving and they usually will continue reporting monthy and they have a no deletion policy for those who try to pay it off for deletion of their report.  Find out the date that they first reported it - they can continue to keep it on your report for 7 years.  However, each of the three different agencies - experian, equifax and transunion have different 'grace' period where you can start to hit them earlier than 7 years basically writing to them that it's obsolete and they will remove it.  It's just a question of being diligent and writing each three and testing when their timeframe is for removing it early.  You're already six, about to be going to the 7 year mark in with this debt so I would really look into the letters to the CRA's.  

You can also contact the Executive Office at Capital One and goodwilll them.  If you write to the president or send an e-mail to him, somebody will get back to you.  A lot of people have had success in getting goodwill from them by going through the EO.  You do not want to write nor contact any other department at Cap One.  That's the only one that will help you out.

how can i raise my credit score 100 points in 6 months

Nov 16, 2014
Helpful to 2 out of 2 people

A thick file, if kept in proper order is better than a thin file.  Hopefully, if you have that many store cards, you also have a number of credit cards issued from banks - i.e. Mastercards, Visas, Amex, Discover, etc.  Those tend to have a heavier weight as far as building a healthy portfolio for future loans, mortgages and credit profile.  A lot of people that have top Fico's have at least a minimum of 8 revolving tradelines.

So the question isn't so much will having the number of store cards affect your score negatively - the question is more a combo of how long is your AAoA?  (each card you have divides average age of credit), what is your total credit line of all credit combined, your credit line on each card, how much are you utilizing of the total sum of credit available to you and how much are you using of the credit available to you per card?

If your AAoA is not shortened drastically, your sum total utilzation ratio is below 30% (under 20% would be better) and each card is also below those percentages on your balances, you PIF each month and also rotate the cards, leaving $0 reporting on a number of them each month, then not only should you be fine but your scores should go up the more they age and the better you handle them.

If you let them report with high balances, pay minimum amounts, show high utilization, miss a payment - that's really the danger of having so many retail cards and a good way to find your score go down.

some one has been using my name and ssn how do I check out the things they were buying

Aug 24, 2014
CRA's, Fraud Alerts & Police Reports!
Helpful to 2 out of 2 people

Contact Experian, TransUnion and Equifax and immediately get copies of all three of your credit reports.  ASAP!  Get a list of all charges that are fraudulent and immediately report them to the bureaus.  Go your local police department and file a fraud report - having this recorded with the authorities and paperwork to back it up is crucial.  Also check into putting a lock on all your credit info - somebody obviously pulled it.  You can unfreeze it at a later date when you want.  But make sure you get a list of all charges immediately and then contact the bureaus and alert them of fraud.  Your police reports will serve to back you up since the CRA's aren't always the most diligent in taking your word for it when you get stuck with some collection bill years from now.

I know there is more and better legal advice then I have given you.  Hopefully someone else will answer this post.  But these are steps that I know people have taken and it gives you something to start with at the present moment instead of having to endure sitting there while unknown thieves are out there busily using up your name and social to go on shopping sprees!

I recieved a CC about 3 weeks ago, How long does it take before its added to my credit profile?

Aug 24, 2014
Helpful to 1 out of 1 people

Some credit cards show up very quickly as new line of trade.   Some take longer.  Also, not all cards report to all 3 agencies.  That being said, if you're charging on it, look for it to show up after whatever date of the month your credit card company reports.  If you don't know what day they report, just give them a call and ask.  You could also ask them if they do indeed report to all three bureaus.  After you find out the reporting date, wait one day later and then pull your report and check to see if it's registering.  It should be there by then : )

Results 1-10 of 20Results per page: 5 | 10 | 25Page 1 of 2   Previous | Next