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Question By
svesty

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0 People Helped
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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7 People Helped

finally!!

Helpful to 7 out of 8 people

got a cap one card at the end of sept, 226.00 credit limit, credit score 494/520. First month I maxed the card,.. [needed it to pay a bill] but by Oct , I made sure that I paid the balance 2 weeks before it was due,, somewhere around 10/15, since it takes Cap one 5 business days to post to your account, and the bill is always due on the 3rd of the month. I made sure that when it posted around 10/20 to only use under 30 percent , and not touch the card until after Nov 6, since your credit report comes through and captures your usage a couple of days after your payment is due. so just to be on the safe side , I waitied a few more.. Could not believe it, but when I checked my score this time on Nov 9th, my credit score went up 82 points Transunion, 49 points Equifax. This was due to me not only paying on time, but also only using 17% of my card. I could not believe it. So now my score is around 582/583. Now I know that this is still low, but for it to happen in only 1 MONTH???? I couldn't believe it. So this month I plan on doing the same thing, but only using around 10%. Lots of luck to you all, but if you keep in mind how much you are using, and knowing when everything gets captured on your statement, it should work out for anyone. I look forward to really getting a jump this month also.

1 Contribution
107 People Helped

debt to credit ratio

Helpful to 107 out of 129 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

1 Contribution
23 People Helped
Helpful to 23 out of 26 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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5 People Helped

Raising credit score

Helpful to 5 out of 5 people

I agree with what someone said about paying off your cards first. The best way I've found to raise credit score is to only use 1/3 of your credit on a card each month and wait until about 10 days before the due date to pay the full balance off every month. In other words, $3000 credit limit on a card, never go over $1000 a month on that card and pay the total balance off after credit bureaus see you've used it, so don't pay until at least 7 to 10 days before it's due. And get credit cards that pays you cash back for using them. 

2 Contributions
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
17 People Helped

Helpful to 17 out of 20 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.

Top Contributor

Reply by
Anonome

26 Contributions
176 People Helped
Helpful to 2 out of 5 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. 

2 Contributions
1 Person Helped

Helpful to 1 out of 1 people

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

1 Contribution
4 People Helped

Raising my credit Score

Helpful to 4 out of 4 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. 

1 Contribution
7 People Helped

Helpful to 7 out of 9 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.

1 Contribution
14 People Helped

I raised my score from 0 to 726

Helpful to 14 out of 27 people

I raised my credit score from 0 to 705(transunion) 726(experian) 717 (equifax) in less than 1 month, yes sir in less than 1 month, the first time when I got noticed something changed in my credit report I was curious to see what's going on and so excited. I checked my credit and I saw 705 in my transunion, OMG I can't believe that, its really magic...

here's what I did :

I applied on march 12th 2014 for Capital one secured credit card.

Got approved for $200 credit limit and $49 security deposit.

I received the card 2 weeks later.

I used less than %5 of my credit line ($7.00)

I paid off the amount in the next day.

I received the statement with 0 balance.

and when they reported, marked my credit card utilization %0

I'm sooo happy and satisfied with cap one 

Reply by
seadigital

1 Contribution
15 People Helped
Helpful to 15 out of 20 people

I raised my score from 605 to 798 in 3 months.  Here's how..

1st.  Got a 5k limit SECURED credit card. Jump!

2nd. I disputed all incorrect data on the CRA's. Better check yours and dipute any inaccurate negatives!

605 to 784, but then..

3rd . I get a second card +4 points.  I moved in to another credit limit catagory of at least 10k collectivly, then woosh +7, up to 798.

P.S.  For my second card I applied for one of the hardest cards to get in Barclaycard World Mastercard. Instant online application, instant approval.  2.2 cents on the dollar rebate. no annual fee. no foriegn tranasaction fee.

Reply by
becka892

1 Contribution
3 People Helped
Helpful to 3 out of 7 people

i thought credit utlization of 0% was a bad thing?  shouldn't you leave a blance but make payments on time to show credit worthiness?  I am at a 567 and just got the CO secured card with a deposit of $200, just wondering the best way to help my score jump, I have a year to repair

Thanks for any info/input!

Becky

Reply by
possha

2 Contributions
7 People Helped
Helpful to 3 out of 6 people

silly people...You have " ghost credit" look into it. Best of luck- you have the right idea just need to keep purchasing and paying on time!

Reply by
possha

2 Contributions
7 People Helped
Helpful to 4 out of 4 people

a 0- 726? lol

Reply by
ColoradoRoy

9 Contributions
17 People Helped

Credit scores start at 300 FYI Both Fico and Fako. That is a rediculous claim lol.

1 Contribution
0 People Helped

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

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