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HELP -- I need to increase my score from 650 to 720 -- what can I do?
My current credit score is 650. I have an income 53,000/year.

My debts are as follows:

112,000 - Law School Loans

3,600 out of 4,500 - Chase Visa

0 out of 3,000- Citi MasterCard

0 out of 2,300 - Wells Fargo Visa

My loan payments are 290/month. I had one late payment in December of 2012. I paid it after 5:00pm the day it was due ( after close of business), so it was reported on my credit report.

I don't not have any other delinquencies or negative credit reporting. I have a limited credit history, as I have never financed a car and am only 27 years old. I am trying to boost my credit score by getting an auto loan, but every loan officer wants me to buy the car at 13-16% APR, which should be a crime. I am not going to pay that. I know if I get my credit score up, the APR will go down.

What can I do to boost my score from 650 to 720 in the next year? PLEASE HELP, any advice would be greatly appreciated. I have about $500 of disposable income at the end of each month.

**Also, mortgage and loan officers have told me that my DTI ratio is too high regarding buying a home**

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* Pay your CC Card off First,  

* Only Carge on your Credit Card what you can Pay off that Month, so use it for like GAS only.

* Check out the 7 Baby Steps by Dave Ramsey,  This looks like it might work Great for you.

Good Luck

Credit History takes Time, So does your Credit Score.

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Ahh lendors! What are they thinking?

Loans may initially hurt your credit because of hard inquiries. Those go away after two years. Also, it lowers your average account age which will also lower your credit. However on time payments will increase your score. It would eventually be positive if you make every payment on time.

DTI is Debt to income ratio. Obvisously law school was expensive. You get paid well but not well enough to let lendors forget about that large loan. Adding additional loans and credit cards to that will only put your credit score under more risk in lendors eyes. Would you lend Tommy $50 if you knew he owed Steve $100 still and Tommy only makes $25? Lendors want their money back if your a risk they make you pay for it. Less of a risk less they will ask for you to pay. It may be that you should try another lendor as well. Typically your bank or credit unions will have lower rates than car dealorships offer.

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This topic has been raised multiple times.  Credit Karma is an interactive tool to help people learn how to properly build and maintain a good credit score.  The articles and tools on the site (see left side of page) are for your help in accomplishing this goal.  Please read, learn and utilize the tools available for a painless way of seeing how tomaintain a good credit score.

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Repair your credit yourself - Free Guide

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There is a do it yourself credit repair guide with everything you need to increase your credit scores at The Lenders Network. Download it for free on their site, all my clients with bad credit use it and it works. Tips, secrets, sample dispute letter templates, etc. 

Good luck!

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I have reviewed tons of responses to various applicable questions in the "tools" section. However, and with all due respect, I don't have time to read 902 responses and replies to other questions.  Anyone who works a full-time job with a family doesn't have that kind of time. I was hoping that someone could please give me some basic information or sequence on how to best improve my score.  Obviously, I have read many tips on how to raise my credit, but if you are not a financial advisor, then the FICO equation might as well be a foreign language. I used the credit estimator and plugged in a car loan, and my credit dropped 30 points. I don't understand why. That' is just one of many reasons why I asked my orignial question. Should I not get a car loan? Should I pay my credit card off first? Should I ask for increases in my credit lines and not use them? Should I get a car loan and pay it timely? So many questions, and I don't have the answers nor the time to read 1000 replies to someone else's question. A direct reply would be greatly appreciated. In the short time it took you to write your response, you could have probably given me some great advice. 

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