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Posted in Credit Scores
I have a score of 596 with no open credit cards or debt-how can I raise this?
I am trying to raise my credit score. My biggest problem is I have no open credit cards and I am not sure I can get any with a 596 score. Any suggestions?
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My suggestion would be to open up a line of credit and pay off the balance every month. This would show lenders that you are able to manage your debt. Your credit score will increase even if you pay the balance off. What boosts your score is the longevity of your account, on time payments, ratio of debt to limit. Your limit would be relatively low so monitor your purchases and make sure you are able to pay off the balance when the bill comes. In order to boost your credit you don't need to pay interest.

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