Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Saving Money
Profile Image

Question By
2015blessed

0 Contributions
0 People Helped
My eqifax is 491 what do I do
Want to rebuild with in 3 to 6 months what should I do

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-6 of 6Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
12 People Helped
Most Helpful Response

gotta be patient

Helpful to 12 out of 12 people

It's a long journey to build up your credit, it cannot be fast like couple months, it takes at least 1 year to know. Here are some advices that I give you from my own experience. 

1/ Always pay your payment on time, eventhough it's just minimum payment, it still need to be paid before the deadline.

2/ Open a secure credit card, and deposit amount of money which is your credit line that you are sure you can pay for it. If you can, just use 9% of your credit line, remember only 9%.

3/ Just pay in full amount if you can to avoid the interest. 

4/ Ask somebody that you trust and who trust you to add you as an authorized user to boost up your credit score.

5/ Pay all of your debt in the past, althougt you can deal with them to pay it up in a period of time.

1 Contribution
16 People Helped

Rebuild within 6 months

Helpful to 16 out of 26 people

Trinity Credit services can help. Also, you may want to invest in a book by Dave Ramsey called Total Money Makeover. Most importantly keep GOD and your tithes and offerings FIRST!!! GOD bless you in JESUS' name.

Reply by
erincarrigan

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

Yes. Do not pay your bills or buy food before giving the church your money! God wants you homeless and starving while megachurches collect your cash and pay no taxes on it!

1 Contribution
8 People Helped

Open a Credit Card

Helpful to 8 out of 11 people

Open a credit card and dont use it or always keep the balance under 50%. Always make the payment on time or before its due, this will increase your score overtime. It will decrease your score first but after a few months will increase.

Reply by
emmuh

1 Contribution
7 People Helped
Helpful to 7 out of 8 people

50% utilization is way too much. 30% is the absolute max you should be using. Under 20% is ideal, and for certain cards 9% is the best. Please educate yourself before you feed others misinformation.

Top Contributor
17 Contributions
19 People Helped

Helpful to 8 out of 10 people

Start reading all you can under credit scores on this site.

2 Contributions
4 People Helped

Helpful to 2 out of 2 people

Mine was under 500 this time last year. Pay anything off that you can. Negotiate settlements for closed accounts and payment plans to bring open accounts current. Do not just close anything.

I had one closed charged off card that I was offered a settlement for so I paid it. That was January this year. I had two other cards that were behind (these are all store cards) and I brought each current with the amount they told me would bring it current. I then paid them off completely over the next few months. Those were all taken care of by June. In April, I got approved for a secured Capital One card. I liked that one because it was no annual fee and it was easy to get. They will have you put $49, $99, or $200 down based on your score which was also good because others wanted a $300-$500 deposit. I got approved for a $99 deposit and a $200 limit. I charged it and paid it off early every month. In October, my limit was upped to $500. At that time, I applied for a few other store cards and a Quicksilver One card from Capital One. Got approved by Capital One by $500 and approved for between $250 and $600 on the other cards I applied for. So now my total credit limits amounts to $3400. That appears to have upped my score. My score is now TU 624 and EQ 619. Still low, but over 100 points higher than it was this time last year. It does take time and there are no quick fixes.

Basically, try to clear up any collections or judgments you have. Research the best ways to do that. Pay anything off you can at the time. If you have no credit history, get a secured card ASAP. Keep your utilization low on any cards you get. That was what I did. If you have a couple missed payments and have some reason for them, write a good faith letter to the company and explain your situation. Some people have luck with that. A lot do not. I couldn't do it, but it is worth trying. You can Google the concept. Treat your credit cards like debit cards and do not spend money you don't have actual cash on hand for. Pay all your bills on time every month. It takes time but it will happen!

1 Contribution
7 People Helped

low credit score issues?

Helpful to 7 out of 22 people

live within your means. there's no such thing as a "free" lunch. delay gratification. in other words. grow up.

Results 1-6 of 6Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.