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Question By
ZeusMeus

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HELP - need to raise score but kind of lost...
7 years ago, I had two accounts that went into collections. I paid them off but they were categorized as charge offs/ closed. I was young and didn't think to research the best way to handle them. Anyways, they are set to fall off on 1/2014 but I am just wondering if there is any way to get them removed before then?
Also, I have 3 open accounts - 2 I don't use because i didn't even know they were still open - what should I do about them? Anything?
My final card - I use all the time. I pay it every month, never a late payment and I pay in full. Now I am focusing on my utilization amount so I don't go above 30% because I was doing that b/c I didn't realize it would have a negative affect...
Finally, I have a student loan 3300 left- always paid on time.
Credit Karma says my debt to income ratio is 6%
With all of that said, I have a score of 649. I feel this is horrible - any advice that anyone can give me on how to increase my score would be GREATLY appreciated. Thank you very much.

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It's four months. Wait it out.

First, don't let your unused cards get cancelled for non use. Use them occasionally. Then, don't pay off everything to zero balances each month. A zero utilization is just as bad a 35% utilization. And finally, I do not think CK has income information unless you linked accounts or something. There is no income to your credit file.

The standard advice is:

  • Pay all your bills on time.
  • Carry between 1% and not more than 20% balance of your total credit limits.
  • Do not cancel unused cards. Use them occasionally to prevent them from being cancelled by the creditor.
  • Do not apply for unnecessary credit.
  • Monitor your credit for fraud.

Reply by
ZeusMeus

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Ok, so just to be clear - it is ideal to pay the bill almost in full but carry 1-20% every month over? This will help me increase my score?

Thank you very much for your response; I do appreciate it.

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