How to Raise Your Credit Score

[sk8ladyb]

I am trying to figure out why my score is dropping each month by 2 points and why this one agency keeps looking at my credit. I am not asking them to. I pay on time and almost always extra. Really this is not cool.

[Kyleelove]

You need variety in your credit report, not just revolving debt. A car/student/personal loan will help to improve your score overtime with on time monthly payments. 

[nancya55]

If you don't want to use your credit cards freeze them in a block of ice. It will take time to thaw it out and you may find you don't need to use them after all. My problem is that when I was married all our credit was joint. When my spouse died I had NO credit history even though I was the one paying the bills, both actually making the payment and making the money to pay the bills. My advice is if you get married each person should have one loan or credit card in their name only (not joint) use it and pay it off each month and you will not have to start from scratch like I did (a 20+ year credit history no longer counts because every thing was joint!)

[nancya55]

Keep your credit card open use it occasionally and pay it off each month. It will help your credit score.

[Teresak]

Paid off  my house and credit score went down.  What do I do now? 

[sk8ladyb]

I paid off many credit cards and really am tired of this one agency snooping. No need when I am not asking them for anything.

[watty]

I get monthly updates on my credit score.  I was told I could improve it if I had a mortgage. My husband (now deceased) moved to Florida in 1978.  We had a mortgage was paid off around 1998.  We have had credit cards all the time we have lived here.  Credit bureau states my credit only goes back 17 - 18 years.  Don't understand why their records aren't complete.

[GrammarPolice]

Can someone tell the admin of this post that in the 2nd to last paragraph “you’re” is misspelled “your”?

This is just to maintain the professional image expected of a financial advice provider. 

[lilicgx4]

In June 2019 bought a new car.  I have made zero late payments in any accounts since then.  I do have a history of late payments from a creditor from 2016. That's nothing new.  However, since June my credit score has dropped by 30points!! I can't make any sense of it.  On the overview it states that my debt:income ratio is "pretty good" (30%) so I don't understand why I'm dropping monthly.  If Turbo has any resources on whom I can consult with to help me develop a clear plan on raising my credit score I'd appreciate it.  Thanks!

[MarkS-BD]

This is helpful information.  Unfortunately personal loans are not an option because I have WAY too much debt.  I've already taken a Personal Finance Class so at least I know what I need to do.  How to approach it is another matter.

So my question is this.  Since I can't get a personal loan, would signing up with someone who can fix my credit score be a better option?  Any answers will be appreciated. 

[April88]

I was building my credit by using 2 small credit cards.  I would charge 30% & pay them off when I got the statements.  I stop using them when I moved (didn't want to miss a payment).  They both automatically closed due to inactivity.  This reduced by credit score by about 50 points each!!!  Would it raise my score at all to try to,have them re-opened?  Did not want to reduce my score even more, so I wanted to ask first.  Thank you!

[nancya55]

Don't waste your money.  More often than not the "credit repair" companies tale your money and wreck your credit worse than it is now!

[Eloise]

Someone needs to proof read the English used in this article.

[corylulu]

~90 points on a hard inquiry isn't right at all. Most hard inquiries should only drop your score 1-5 points, not 90. Something seems really wrong there.  

[sunsets55]

maybe re-open 1 or get a new one, but good job on paying off your balance each time...if i read that right.  so many people make the mistake of stacking endless charges and only paying the min. each month.  i only spend a small amt. on my credit card and pay it off in full and my credit report shows 'exceptional payment history' and my score keeps jumping up.  and i only have 1 credit card.