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AliciaRichards

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What can I do to raise my credit score atleast 100 points in a 1 year?
My Transunion score is at 636 and Equifax is at 606. I have had to settle with a debt or two a year ago and all went well. 7 Late with Trans and 8 late with Equifax. Credit utilization with Trans is 55% which I know isn't good and the same with Equifax.
I lease a car that is in my mothers name but pay the payment all on time. I have to give up this car next year and need to build my credit to get a decent car.
I have one Visa credit card with my bank and 2 for clothing stores. I don't use the clothing stores much at all. Mostly the Visa due to some emergencies.
I feel that at least earning 100 more points should help me with a car.
(I am not only trying to get my score up but trying to save money for a down payment.)

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Top Contributor
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Hi AliciaRichards,

Credit is pretty in depth.  Without knowing your COMPLETE credit history, it's difficult to know exactly what is hurting your score the most.

First, I'd avoid applying for any more credit until the time comes to purchase the car.  Each application results in an "inquiry" and you're likely to get a few of these just over the course of car shopping.  Be careful.

Second, If there is a way that you can be placed as an account holder on that lease (in addition to your mom), the payments that you make will start showing up.

Third, definitely start paying down your credit card debt.  Anything over 50% is hurting you bad.  Ideally, you want to be under 20%.

Fourth, have you pulled your complete credit reports recently?  Are there any inaccuracies?  Is there any debt due to "fall off" soon?  

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