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Level 20

How to Raise Your Credit Score


@Idhilsyn wrote:

...My credit score is shown to have gone down 7 points, but there's no indication on my credit report as to *WHY* it went down.


Seven points is pretty much just background noise in terms of your score. The article below illustrates why small decreases are, in most instances, largely irrelevant.

 

https://creditcards.usnews.com/articles/why-a-10-point-drop-in-your-credit-score-doesnt-matter

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Level 2

How to Raise Your Credit Score

this is garbage. It requires you to have money to make money.

Level 4

How to Raise Your Credit Score

Don’t ever close a credit card account. It will have a negative effect on your score. 

Level 20

How to Raise Your Credit Score


@ncalb55 wrote:

Don’t ever close a credit card account. It will have a negative effect on your score. 


I agree. The two main reasons to close a credit card account are (a) if the card has an annual fee, and (b) if the cardholder has an impulse control issue.

Level 16 Kat
Level 16

How to Raise Your Credit Score


@tagteam wrote:

@ncalb55 wrote:

Don’t ever close a credit card account. It will have a negative effect on your score. 


I agree. The two main reasons to close a credit card account are (a) if the card has an annual fee, and (b) if the cardholder has an impulse control issue.


I can think of one other reason to close a credit card account.  That would be to avoid additional "damage" in the event of identity theft.  In my opinion, the fewer credit accounts one has, the less clean-up would be required if identity theft did occur. 

Level 2

How to Raise Your Credit Score

I have so much student loan debt, and collections as well. My wages are garnished now!  I too have been contemplating bankruptcy. I need more information. Also,  I need to educate myself on the ways to raise my score myself. Much luck to you!

Highlighted
Level 2

How to Raise Your Credit Score

Get a credit card if you dont have one. helps a lot