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cryjoh

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Need advice on increasing my score quickly
I have a credit card balance of $12,500 that has not been used for a few years. I want to purchase a home within the next 4 months and have a credit score of only 556. I need advice on how to go about increasing my score in order to achieve this. I currently have 4 medical bills totaling $1,416 that I have been paying a total of $50 monthly. And a school loan for $645 that I have been paying $40 monthly. I am assuming that I should pay off these outstanding bills with the credit card and then start paying the card down, but I’m not sure the best way to go about doing this to increase my credit score fast. Thanks in advance for any advice.

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Credit growth is seldom fast as you can discover by reading the articles and previous posts (there have been MANY) regarding fast credit score increases that are on this site.  Unless the interest on your credit card is lower than that of your student loan, I would recommend continuing paying them off as they stand.  And you should be checking all three credit reports to make sure only YOUR information is on them.  Errors are common with credit reports.  You are going to have to do this in order to work on building your credit score so you can get a mortgage, but it's very unlikely this will happen in four months.  This site is a teaching tool so people can learn how to increase their credit score and make the most of their money.  Please read and learn from this site, which is what it was designed for.

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