How to improve my credit faster?
I’m trying to boost up my credit to buy me a new car, I currently have my score in the 640-660 range and I have 2 credit cards both of which are over 50% in balance. my question is, what would help me better, pay a good amount of money on each one and lower both balances staying over 50% on both -OR- put more money on one, lower it below 50% and leave the other one over 50%?
I need to get like 10 or 20 more FICO points.
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- Tags: amount of money, credit cards, fico, new car, score
December 27th, 2010 at 6:42 am
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – freecreditreport.sinfree.net
December 27th, 2010 at 6:42 am
Get a small loan for 24 months and pay it back in 12. That should help boost your credit score.
December 27th, 2010 at 6:42 am
Lowing your credit card to 10% will give you the boost you need. 100% positive.
December 27th, 2010 at 6:42 am
I will suggest get a secure card ( with Deposit to Bank) and keep paying on time for next few months just keeping about 10-15% balance.
December 27th, 2010 at 6:42 am
There is no shortcut to improve the credit rating. The only thing we can do is to follow a well formulated financial plan. Having and using a credit card wisely can be beneficial to your credit rating. Financial experts recommend keeping your account balances less than 50% of your available credit. It shows that you have the ability to pay back your debt. Don’t apply for or take on too many credit cards. If you’re constantly applying for new credit cards, it can hurt your rating, especially if you’re getting turned down for them.
Another thing you should take utmost care is about payments. Your payment history, even for minor items such as utilities and cable
television, is reported to a number of different credit bureaus, so any missed or history of late payments is recorded and weighed against your credit. Your recent payment history counts more than ancient history, so be sure to get back on track… and then stay there.