Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
lerimes

0 Contributions
0 People Helped
Build credit score fast

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-7 of 7Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
15 People Helped
Most Helpful Response

Helpful to 15 out of 18 people

There really is no "quick fix" to increase your credit score with regards to a mortgage.  Mortgage brokers as opposed to a financial institution may approve you based on limited credit history but you may pay more in closing costs/origination fees.  Most underwriters want to see an established and substantial credit history to see how well you you handle credit and if upu can make your payments on time.  They also look for a good mix of credit; major credit cards (Visa,MC, etc.), department store credit cards, installment loans (auto,personal, etc) and that you aare not using more than 25-30% of your available limits.  Using more than this says that you rely too much on credit cards and could potentially use up your limits.  Remember also that the credit they do see should list you as the main borrower, not just a  co-signer or authorized user.  So, give it between 12-24 months, establish a good mix of credit, make your payments on time and be careful with your credit card balances.  Patience is a virtue and in no time you will have that mortgage!

2 Contributions
7 People Helped

Helpful to 7 out of 12 people

I have excellent credit but 7 hard inquiries on my report. How do I get rid
of all the inquiries?

Top Contributor

Reply by
tg101688

497 Contributions
1205 People Helped
Helpful to 11 out of 13 people

Hard inquiries will stay on your credit report for 2 years.

Top Contributor

Reply by
EddyTX

1884 Contributions
3682 People Helped
Helpful to 4 out of 5 people

To keep hard inquiries low, don't apply for new credit more that once every 6 months. specially if you are denied.    5 to 10 inquireies won't hurt you if you are getting approved, but avoid trying if you think you won't be.

also keep hard inquiries to a minimum when shopping around for a car, (every car dealer you talk to will do a credit check even if you don't get to the negotiating table, creating multiple hard inquiries.   all they need is your name and city you live in) 

Go to your bank and pre-qualify with them for an auto loan. it's also a great negotiating tool, 

2 Contributions
13 People Helped

Emergency>>Desperately seeking answers

Helpful to 13 out of 24 people

I'm trying to build credit fast so I can buy a home or a building. I have two credit cards to build it and I will now keep the limits high, but keep the balance low. Someone told me to now take out a small loan to help build credit faster also. Is that true. Should my next step be to take out a loan or do something else? Also what type of loan is better to take out. Should it be a loan from the bank? Job Credit union? Furniture store? Clothing Store? Which one, and do all these entities build credit? 

Top Contributor

Reply by
EddyTX

1884 Contributions
3682 People Helped
Helpful to 6 out of 7 people

Try to get a personal loan from a local Credit Union.   they offer the best rates for the most part and ususlly will let you pay it off early with out fee's.  If you have a Share Acct (savings) with them irtt should be easier.

In general you want 5 or 6 open credit lines. a mix of store & CC's, personal and auto loans.

for a mortgage they ususally want to see a longer credit history. 5 to 7 years unless you have a real high credit score. 

Avoid web based loans if you can as these usually have real high rates and charges.

1 Contribution
3 People Helped

How do i raise my score up

Helpful to 3 out of 5 people

My score is 580 which is pretty good because it was 470, i have done well but i need to get up enough points to buy a house. How do i do that?

1 Contribution
2 People Helped

dispute items on your credit

Helpful to 2 out of 3 people

How do you get a detailed report from the three credit companys so I can dispute and incorrect reports on them

Top Contributor

Reply by
mdtaylorlrim

432 Contributions
364 People Helped
Helpful to 4 out of 8 people

You go to annualcreditreport.com and request a free one. If you have already gotten a free one from each of the big three then you will have to pay for one.

You may also be able to make disputues online at each of their websites although if hard copy proof of something is required you will still have to follow up somehow.

1 Contribution
5 People Helped

Helpful to 5 out of 15 people

clean my creadit  and I want up score to 680 maria v sanchez my number 585 773-4396

Top Contributor
432 Contributions
364 People Helped

Helpful to 7 out of 21 people

Is there a question in that somewhere?

Reply by
rydertech

1 Contribution
33 People Helped
Helpful to 33 out of 37 people

Keep credit card limits high but the balances low, and try to stay away from alot of credit inqueries.

Results 1-7 of 7Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.