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Question By
svesty

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How can I raise my credit quicky?
My score is currently 665. I have already raised it from a 580 within the past 2 years. I have 3 credit cards, but I really want to get to the 700 mark within 2014. Does anyone have suggestions? I have tossed around the idea of buying a new car so i can have that on my credit.

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debt to credit ratio

Helpful to 104 out of 126 people

fastest way to get your score higher is to modify your credit/debt ratio.

two ways to do this:

decrease debt (pay off credit card) 

increase credit (get another credit card)

other things to help

(don't close accounts in good standing) 

(use lexington law for a month or two.

paying off 30% of your debt will jump you about 20% say you have 4k in debt. pay off and your score moves up.

getting another card and or line of credit will increase you 10%

Reply by
ddnash

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19 People Helped
Helpful to 19 out of 22 people

i used lexington law for two years and paid the highets amount and left with my credit just as bad they did very little to help..

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26 People Helped

different types of credit

Helpful to 26 out of 34 people

It is always good to have various different types of credit so more then just credit cards. Also if you pay off your cards that will help as well. If you do not have a car loan I would suggest getting a car if you really want or need one to add a different type of credit to your file. Make sure you pay on time is a given and maybe one more card or a credit line increase might help depending on what your income to debt ratio is.

3 Contributions
12 People Helped

Helpful to 12 out of 15 people

Best way to raise your credit is to pay off the balances of your credit cards down to 5%, your credit report only takes a snap shop of your credit utilization so if you have them completely maxed out your score could be low, pay them all down to 5% or lower and it could raise your score tremendously. It raised my score 40 points in less than 2 months.

You can always ask the credit cards that you have for a credit increase. Most credit cards that you already have will do a soft pull when asking for a increase so it lessens the risk of a inquiry hurting your credit, if you get the increase it shows that you have more credit and the utilization goes down, if you dont chances are the soft inquiry pull will not hurt your credit.

I dont believe that car loans or mortgages will help your credit immediately, credit companies like to see a pattern of payment history so by getting a car loan it may help in the long run but you will not see immediate results.

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Reply by
Anonome

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169 People Helped
Helpful to 2 out of 4 people

I checked out the new car loan myself. Now this was only in the CK simulator but it dropped me 8 points. In the long run Im sure it would raise it and 8 points isnt terrible. It can gain that back in a month or two im sure. I still need a car personally and the loan will eventually help. I might not go get a car just because, if I didnt need one at all. 

1 Contribution
5 People Helped

Helpful to 5 out of 7 people

Quickly lower your balances on you 3 cards and keep them low. Also consider taking $500-$1,000 cash if possible, go thru a bank that you trust and open a secured credit card with the cash. Make small purchases on this card and pay balance off in full each month. This will open up another trade line and raise your score quickly.

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1 Person Helped

Raising my credit Score

Helpful to 1 out of 1 people

I want to refinance my car loan. I want to raise my credit score to a 600 by the end of the month it is currently 592. I have some cards in collections which I know won't help paying them. I currently have an active credit card with my credit union I have paid it from 1100 to 1000. I have been paying my car loan on time for 4 months. It is not my first car loan. My last car loan I paid on time for 3 years. 

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0 People Helped

i am very update in my visa c cards i pay full my a express and full first premier c card

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0 People Helped

i am very update with all my credit cards i paid full a express and first premier c cardd

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0 People Helped

How about staying out of debt

Tear up credit cards, and have a 0 credit score. Having a credit score just shows how bad you are about managing debt!

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0 People Helped

Always pay in full .And on time is a must.

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0 People Helped

credit

getting your credit score up is a pain.

i apply for capitlal one they said it will take 7-10 buiness day for a answer. now i have to wait longer to see if i am approve.

Reply by
RobertAdams313

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3 People Helped
Helpful to 3 out of 4 people

they usually only make you wait when you aren't approved. .

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