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Question By
fernapa

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Is it worth to get a high APR loan to pay off debts and raise my credit score?
My scores fluctuate between 599 - 639 between all credit reports. I have a court judgement for $1021 that I only found out because of my credit report. It is also 6yo next month but highly damaging my score. I could also pay 1500$ off my credit card to be under 25% usage. While the APR on my card is 10% and the loan is 30% I would have it improved in the short run. It also would allow me to pay some old open accounts and give me the chance to bargain a "paid as agreed" on them. Any advice?

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to add

I'd like to point out that I did increase my scores about 100 points since last July. Im working on getting up to 700s since I'm hoping to buy a house and stop getting high interest loans or high deposits on utilities

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yes. since some cards will re nego your rate once you have a better score or history with them.

Be warned.. CHASE does NOT. They tell you to close one card and open the same one.

 I heard discover does nego and I think others do.

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