How to Raise Your Credit Score

[123a12m]

This answers my question straight to the point. I have paid off accounts. To find out closing an account is not good for your credit score. The idea to bring up my credit score is to leave it under a 500.00 balance per say for 1000.00 CL

[dennyce25]

I’ve been struggling trying to make everybody happy except for looking out for me first. I’m just working my ass off just working hard out here just being single as myself.

[dennyce25]

I have literally no credit. I was working getting paid low minimum wage. Like I’m out here alone single.

[Dcarter29]

Having worked for several different banks in their credit card centers, I would recommend always paying your bills on time and never paying just the minimum. Try doubling it. Also never use more than 30% of your available credit.

[Dcarter29]

I like the suggested tips the previous person listed. Good common sense!

[Manny_718]

This is going to sound untraditional but it worked for me. We're told to only spend 30% of our limit. I max my card out every month but I make my payments on time and most times I make payments early. My score shot up within the first three months to were friends and family members who have had credit for year saying your credit is better than mine! I couldnt believe it was that easy for my credit score to jump so fast. Within the first three months my credit was over 670. Now I'm pushing for a perfect score. Dont know what I'm going to do with it because credit really sucks. I just like the fact that I have but in actuality I hate owing people lol. Hope this helps you! You can think me later!!!

[dtoney2000]

I was working full time and used credit cards to pay all bills then when got the statement paid it in full then when I retired I still had

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@KhongPhuTu wrote:

Hi,

You are not disclosing enough information to provide a more detailed answer.  So the answers here are generic in nature:

Here're my methods, tested.

1. Don't payoff your monthly CC bills each month.  If you want to save in interest but also bring up your Credit Score (CS), then pay off all except $1 each month.  Carry over that $1 each month is a sure way of showing you are a Credit Worthy (CW) person.  Paying off the entire balance each month will show up as no credit history.  You can also carry over more from month to month to let them earn a bit more interest, but there is no relationship between this and raising your CS.

2.  Watch and control the percent of credit you used relative to your Credit Limit (CL).  The whole idea to bring up your score (or not lower your score) is to keep this ratio as low as possible.    If you have good income which increases yearly, consider asking your Credit Card Issuer (CCI) to increase your CL.  This has the effect of lowering your % used credit.  However, having higher CL may also drops your score because the logics is that if you have a higher CL, you may be prone to using it carelessly so the risk of not able to payback or pay back on time is higher.  If you ask for a reasonable increase of say $3,000 and your monthly credit usage is says $2000, this will not likely to hurt your score (may be one time when you get it, but it will comes back up within 1-2 quarters (3-6 months).

3.  Don't open too many CCs.  3-4 cards should be ok.

4.  Don't arbitrarily close any of your CC; especially those that have high CL and also have been held for a long time.  

5.  If you have CC with high CL and you don't use it for a while, and have zero balance or negligible balance, call CC and ask them to lower your CC.  This can help bring your CS up.

6.  Try to use your CCs more often, and be sure to pay on time each month at least between the minimum payment and the total balance minus $1.

Your CS should go up in 3-6 months if you apply the intents herein.

Good luck.

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bills on auto each month and couldn't pay them in full they grew  and threw off my credit ratio  any suggestions thank you

[dtoney2000]

while working full time I used credit cards to pay all bills most were on auto pay when I got the bill paid it off in full but when I retired the bills started to grow I had some major repairs new roof new ac system and found I could no longer pay in full each month I was looking to get a loan to consolidate but not working but retired its not an easy do thank you

[8450]

Thank you,The advise was very helpful.

[8450]

The above information was very insiteful

[Kianatt]

Bot paying off your balance in full does not benefit your credit health it is just a common myth. Its better to payoff full balance if you can. Otherwise it is only the matter of wether you get an interest or not.

[PayWithCash]

If you buy everything with cash you don't need a credit score. Thats a fact. All a credit score does is tell the lenders you love to buy debt from them.  Its actually kind of crazy when you sit down and think about it.... You pay them to be in debt... 

Using only cash is a difficult thing to do. However, if you observe these basic principles it can be achieved:

1. Be patient --- Save money for the thing you want. Once you have the cash, go buy it... Or decide you probably don't need it and save the money.
2. Learn to Budget --- Budgeting will help with the saving as well as help cut down on the unnecessary stuff you probably don't need.
3. Be pissed off at the credit lenders for brainwashing you into thinking you actually need a credit card and a credit score to survive... Be really pissed about that.

If you disagree with me then its probably because you just love being sold on the idea that being in debt the rest of your life is just the way it is and there's nothing you can do about it. 🙂 

Live under your means. Once you get to a point where you are debt free and paying for things in cash you can start saving and INVESTING. A simple $200 a month in a good growth Mutual fund can net you some nice retirement at the end of 35 years. Don't believe me? Do the math 😉

Thanks for reading!

[123a12m]

 But any way writing things down helps relieve stress and money problems day by day and tension. And it also help you remember.where you sent Your money.

[123a12m]

Ok, All you have to do now is buy something that would feed your credit. And pay on it. 

[Pearl_227]

Pay your credit card down to $10 balance every month.