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dutch1341
New Member

How to Raise Your Credit Score

Make more payments, pay your cc bill twice a month.

Half when you get it and other half when the balance is due.  As long as the amounts are over the minimum payment.

pt1954
New Member

How to Raise Your Credit Score

how do i improv

How to Raise Your Credit Score

     If you have to many cards or credit , that can affect you or if the cards are maxed out or higher then 40 % . You need to have a good mixture of credit ( 2 credit cards , maybe one loan  .  I've noticed cars dont build your credit very fast. It's best to pay off your cards right away and not keep a balance. Even not using them at all can build your credit faster. Never close an account, because that will ding your credit. The more money you have available on the card , the more the creditors see you are responsible and your credit will improve much faster. Dont become a slave to debt . If you cant pay it off at the end of the month, it's best not to have them. It's very easy to put money on the card , but very hard to pay off due to the interest. It's best to pay off your lowest card first and then add that money to the next until they are paid down and keep adding those payments to the next. Never pay the minimum always try to double or triple . 

How to Raise Your Credit Score

I would love to make my score higher yhanks

How to Raise Your Credit Score

When the bank calls and alerts me to the fact that someone else has used my credit card, I tell them O.K. then void the credit card, and send me a new one which they did quickly.  Now that new card makes my credit score go down.  I can't see why my credit worthiness is lower.  As a matter of fact, I have a rather high net worth and I am living way beneath my means so that I can leave enough for my kids retirements, new, houses, or their children's education.  I was also dinged because I signed a co-borrower mortgage for my son's fiancee's new house.  If she should fall seriously ill or whatever, I will just pay off the mortgage and have them pay whatever rent to me that they can afford.  I don't think all of this merits a mediocre credit score, but it really doesn't matter because I can not conceive of any reason that I will have to borrow money for anything during the rest of my life.

How to Raise Your Credit Score

I recently close an open account and my credit score dropped like 15 points instead of going up.

How to Raise Your Credit Score

I paid off my house.  4 months later I start seeing negative comments about my credit history for not having any experience with a mortgage and I lost points because of it!  Just goes to show you exactly how asinine this whole FICO SCORE crap is.  I am very close to being completely debt free.  Never again.  Not one red cent will I EVER go into debt.  You do NOT need a "credit score"  to thrive.   Once my remaining two credit cards are paid off, you can bet, my "score"  will tank for lack of activity.  So be it.  I refuse to be a slave on the plantation of debt. 

How to Raise Your Credit Score

I have found that keeping your utilization low is the key to keeping your credit increasing.  I recently opened a new card with a $7K limit just to boost my available credit.  It dropped my credit utilization down toward 10%.  I initially took a hit on my report, but it went up higher than it was a few months later.  I couldn't believe my credit took a hit when I paid off my truck because having a loan that is close to the end is actually good for your credit.  Paying off early then makes your credit utilization rise and credit fall.  From now on I'm going to pay the loan way down and then make minimum payments until it's paid off.  My credit also took a hit from completely paying off a credit card (credit card not used was the reason) so now I pay it down to like $50 and make sure I have small things like Hulu or Netflix go to that card every month.  Paying on the card does more for your credit than paying off and not using it.

cam8510
New Member

How to Raise Your Credit Score

I'll share what I've done. You might agree or disagree, and that is fine. I'm not going to defend it, just present the facts and tell you where it has taken me. 

 

About three years ago, I recognized I was so far in debt with credit cards, a mortgage, and a bank loan that I was never going to be free. The interest was killing me. I had, and still have, a very well paying job. But this debt was killing me. 

 

I reviewed a debt relief agency and called them. The strategy was to immediately stop paying all my debts other than my mortgage. We waited. When my debtors started clamoring, we began to negotiate. We just finished negotiating with the final debtor. Four of the debtors settled for 50% of the debt. One settled for 30%. 

 

In seven months, I will be debt free other than my mortgage. At some point early in the process, all my debtors stopped charging interest. They froze my account. I needed help to do this. Some will say I could have done it on my own. That may be true, but clearly, I am not good with money. The help was welcome, and I have been happy to pay for it. 

 

My credit score is improving little by little. I will clean up what I can. I think this was better for me than bankruptcy. Most of my credit will show up on my credit report as paid in full. I understand that some will show up as an agreed settlement. 

 

So I see this as a realistic place for me. With these debts gone, my income is enabling me to save at an incredible rate. All that money is going into my account rather than up in interest smoke. Do I feel guilty for not paying in full? No, I don't. I gave those companies so much money in interest, they didn't need any more. It was my turn to put my foot down. 

 

When I say I put my foot down, I mean two things. I told my creditors I was finished playing this game. Settle or get nothing. Secondly, I put my foot down on myself. No matter the circumstances, control spending. Say no to credit. Work with cash. I'm doing it now. I haven't needed or tried to borrow since I started this program. I have purchased two used vehicles with cash. I will build my retirement home with cash. 

 

So there's my story. It hasn't been easy. Some may want to criticize the debt relief agency I used, but the process has been seamless. They walked me through every step. 

 

This is one way to raise your credit score.

How to Raise Your Credit Score

You can run into issues with this method if the debt collector sues you instead of settling.  Bank of America is one that likes to sue instead of settle.  Eventually they settled, but it added years to the process and my credit was hit the whole time as an outstanding debt.

cam8510
New Member

How to Raise Your Credit Score

You are correct. If a person uses this method, they should opt for the legal representation option. For me, it was only $12 per month. None of the CC companies sued. The all settled. That included Chase and Capital One. I have had no interaction with Bank of America. My credit union did attempt to sue but we settled out of court for 70 cents on the dollar. As I said, every other creditor settled for 50 cents on the dollar. 

 

You are right though. Be ready for a law suit. But take my advice and get the legal representation as part of the package. They will step in. The debtor will not even have to show up in court. Eventually, all the debtors buckle. They really have no choice. get something or get nothing. They just will not get the full amount.

 

I appreciate your comment. I did not mention law suits in my original post. It is something to consider.

How to Raise Your Credit Score

This is bull**bleep**! My credit rating dropped 5 points this month and I did NOTHING different than I did last month. This is a scam.

How to Raise Your Credit Score

Here in TX at least there are lawyers that only do business with CC companies for suing card holders apparently.  I did enlist council that deals with this so most of what I know is from dealing with being sued and represented.  There are lawyers that all they do is defend card holders.  It's a big racket.  We did end up settling for about 1/2 of the amount.  Raising a credit score takes time, but 3 years after the settlement my score was back up around 720 and currently mid 700s.  I doubt it will go higher until two late house payments 5 years ago from my ex-wife drop off (in two years) after she took full possession of our home in a divorce.  Been married twice and twice had woman f'up my credit.  I won't share credit with a woman ever again or even a bank account...no thanks.

How to Raise Your Credit Score

I thought filing bankruptcy that your credit was bad for at least 7 years?? 

K458
New Member

How to Raise Your Credit Score

First off, do not pay a debt collector. Your contract is with the person with whom you borrowed from or owe. If anyone puts a debt collector on to you, Deal Only with the ones you owe. Call them and negotiate. Most people only want something even if it's only $5 paid towards the debt. Best if you make arrangements before it gets that far. Don't let it go to a debt collector if at all possible. But remember, you owe nothing to a debt collector, ever.

 

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