topic Re: How to Raise Your Credit Score in Credit score

How to Raise Your Credit Score

MariP — Mon, 19 Mar 2018 04:50:28 GMT

July 21, 2016 / Philip Taylor

It’s a no-brainer when it comes to your credit score – a higher credit score is always better. Whether you need to repair a bad score or you just want to polish up your already high marks, a high credit score should always be your goal.

Getting Back to Basics

Your credit score is a way in which financial institutions and lenders attempt to predict your future financial behavior.

Essentially, they’re estimating whether or not you will be a good customer by paying back the money you borrowed (or pay for the services you’re signing up for, like cell phone contracts). Scores generally range from 850 at the highest point to 300 at the lowest.

If your score is low, the risk managers predict that you won’t be a good investment and they’re likely to increase your interest rate or deny your loan or service contract altogether.

On the flip side, if your credit score is near the top, you’re considered a prime customer that institutions are eager to do business with. A high credit score will open up opportunities for you to borrow money (in it’s various forms) with low interest rates – potentially saving you thousands of dollars.

So how do you raise your credit score?

How to Climb the Credit Score Mountain

There are many things that will help to improve your credit score. Here are five of the major things to keep in mind.

Be Patient – There is no instant gratification when attempting to improve your credit score. It takes time and positive financial activity. Think of it like this, you aren’t truly improving your credit score. What you’re doing is attempting to improve your credit report, or the history of your financial activity. When your financial activity improves, it will be reflected in your higher score. So be patient and stay strong.

Credit Report – One of the first places to start is to cleanup any negative (or false) items on your credit report that are having a negative effect on your score. To do this, you’ll need to request a copy of your credit score and your credit report. Ensure that all of the details are accurate and contact the credit agency to correct any mistakes or falsifications.

Be On Time – The next foundational element to raising your credit score it to pay your bills on time, every time. It’s simple, when you pay your bills on time each month, your credit score improves little by little. It won’t be an overnight jump of 100 points, but your score will definitely improve month to month.

Pay Down Your Debt – It’s true that you do need some debt so that you can display your financial responsibility by paying down that debt. But that doesn’t mean you need to max out all of your credit cards and lease a new car every other year. Instead, you can improve your credit score by paying down your debt.

With credit cards, your credit score problems arise when your balance becomes a high percentage of your overall credit line. Try to keep your balances under 40% of the overall credit that’s available to you on each individual card. Stop using your credit cards so much, pay down your balances instead of just shuffling them around, and watch your credit score climb.

New Lines of Credit – Don’t apply for new lines of credit just because you get an offer in the mail. Having more open credit sources won’t raise your credit score. If anything, they’ll tempt you to use them too often and then your back under a pile of debt.

Just remember to be patient, develop a plan of attack, and stick with it. Don’t get frustrated if you don’t see results immediately. If you’re making wise financial decisions and displaying positive financial responsibility, your credit report will keep track and your credit score will begin to improve.

Re: How to Raise Your Credit Score

JesseJ — Tue, 04 Sep 2018 01:22:14 GMT

I was worried I didn't have enough lines of credit (read: no credit cards!), so I just opened one (a new credit card through my existing bank) and saw, due to the hard inquiry, my score take a real hit (~90 points). A month in my score has climbed back up by 14 points, but it was certainly jarring to see it drop so dramatically. My hope is, in six months, I take two steps (130 points) forward to sufficiently offset this one step back.

Regardless, thanks for the read. Always good to feel a little more in control of my score, and to be reminded that these things take time, and that patience, as it always is, is a virtue.

Re: How to Raise Your Credit Score

Mosesj4577 — Mon, 10 Sep 2018 22:04:58 GMT

Yes How do I do it?

Re: How to Raise Your Credit Score

Charles1783 — Wed, 12 Sep 2018 03:53:05 GMT

What do i need twodo

Re: How to Raise Your Credit Score

629cbl — Fri, 14 Dec 2018 01:48:26 GMT

I have never been late on any payment that I have had or have. My score remains the same month after month. My credit report in looking it over with the financial inst. that I have credit with or had list me as being good. What is my problem.

Re: How to Raise Your Credit Score

AnonFire — Sat, 16 Feb 2019 01:54:08 GMT

Yeah starting out creates some dings to the credit file but with on time payments you should see it rebound. Inquiries hurt more on new or limited credit history. After a year they’ll stop hurting the score so much and two years they disappear. Good luck.

Re: How to Raise Your Credit Score

Jst1975 — Wed, 20 Feb 2019 02:45:23 GMT

I was laid off for almost 6 months in 2016 and i still cant get my head back above water with my credit score. I had so many go to collections i dont know what to do. Any constructive advice is appreciated. Ive been debating bankruptcy!

Re: How to Raise Your Credit Score

jt-of-sw-fl — Wed, 20 Feb 2019 05:33:09 GMT

visit the credit bureau websites to understand the models the score is based on. An hours worth of education will provide a lifetime of benefit. n

Re: How to Raise Your Credit Score

Vinny — Wed, 27 Mar 2019 00:22:58 GMT

I have seen the cc allow one to deposit 400.00 then to take spend a little like 30 dollars a month pay it off.. then said watch your score rise... well.. I haven't tried.. so no kudos rhere..

Re: How to Raise Your Credit Score

Jose nieves — Wed, 17 Apr 2019 06:36:31 GMT

Paying my bills

Re: How to Raise Your Credit Score

pmrhonda — Thu, 16 May 2019 22:20:58 GMT

Losing a job has got to be one of the toughest things to go through. you have my empathy as my dad went through a rough time 10 years ago with his business and had 2 vehicles repo’d. Well, take it one step at a time. Take an honest look at yourself and ask, “how did I get here in the first place?” Paying off debt is just discipline and patience, but finding the root cause(s) and getting help will certainly place you in a better spot in the future.

Focus on lowest balance first. Put whatever extra you can towards the bill. If you look at everything at once, it can get overwhelming. Don’t take out payday loans. I personally would just let the other stuff sit in collections until you pay the debt that is still open.

Bankruptcy can look tempting (I myself filed) but it’s honestly just there if there is simply no other option. Yes, a chapter 7 will wipe everything away. Yes, a chapter 13 will get you to pay little by little for 5 years then it’s discharged. Either way, it will hurt you for awhile. It’s a decision you have to make. Age, total debt, assets, time you want to be in bankruptcy, figuring your total minimum monthly payments etc, will help you decide whether or not to file. I hope this helps.

Re: How to Raise Your Credit Score

tbassman — Fri, 17 May 2019 00:29:48 GMT

If you let those debts go into collections you can be sued and liens put on your property and get your wages garnished .

Re: How to Raise Your Credit Score

Skyhir6 — Sat, 18 May 2019 00:34:12 GMT

If you are deep in collections & you have a good job now, file for bankruptcy! You can try to pay those debts slowly & your credit score will never go up. My bankruptcy got discharged a year ago, at the some time my company has been doing well, & so have I financially. After 2 months of my bankruptcy being discharged, I got my 1st credit card offer for a $500 limit with no annual fee from capital one. Now I have 4 credit cards with limits between $1750 (the capital one card), & $3000. My credit score is at 720 & climbs every time these credit card companies show me an updated score. I wish I would have filed for bankruptcy in my 20's because doing so, they flood you with information about building credit & being financially responsible. Resetting your score is easier than trying to build it back after taking so much damage. It's a stupid, wasteful system, but it is the system that is put in place for us.

Re: How to Raise Your Credit Score

TM19 — Sat, 18 May 2019 02:11:48 GMT

Good insite

Re: How to Raise Your Credit Score

MaryMSmith — Fri, 24 May 2019 22:34:30 GMT

If you have CC you don’t use or want, what happens if you close them ? I was told it would reduce my credit card. How about reducing the told number of dollars you could have access to?

Re: How to Raise Your Credit Score

Pl130sk — Fri, 31 May 2019 00:15:45 GMT

How can I stop companies from checking my credit report in order to see if they want to solicit me for their credit cards? In other words, credit inquiries I did not initiate?

Re: How to Raise Your Credit Score

tagteam — Fri, 31 May 2019 00:22:49 GMT

wrote:
How can I stop companies from checking my credit report in order to see if they want to solicit me for their credit cards? In other words, credit inquiries I did not initiate?

They are most likely soft inquiries which do not adversely impact your credit score. If you see hard inquiries (for credit applications) that you did not authorize, you can dispute them.

See https://www.creditkarma.com/advice/i/hard-credit-inquiries-and-soft-credit-inquiries/

Re: How to Raise Your Credit Score

Twinlets35 — Fri, 31 May 2019 13:33:07 GMT

Your issue could be that you dont have a variety of credit lines. Or you dont have enough credit and or debt (yes, debt! 🙂 Heres what's factored in to the formula for score results:
Payment history: 35%
Amount of debt owed: 30%
Age of credit history: 15%
New lines of credit: 10%
Credit mix: 10%
Hope that helps!

Re: How to Raise Your Credit Score

Wondering 1 — Thu, 06 Jun 2019 21:43:20 GMT

I looked at my credit score and I wonder why TransUnion is always so much lower than the other credit companies.
Actually, I have less on my credit cards etc and my score went down with TransUnion. Less debt etc . Clean report and TransUnion is so negative compared to the other credit companies. My credit score is like 59 points higher than TransUnion.
Something is not right the way they decide.☹️

Re: How to Raise Your Credit Score

tagteam — Thu, 06 Jun 2019 22:15:22 GMT

wrote:
I looked at my credit score and I wonder why TransUnion is always so much lower than the other credit companies.
☹️

The three majors compile their own reports and there are several scoring models. Obviously, that accounts for the variation.

Re: How to Raise Your Credit Score

tbabymitch47 — Wed, 12 Jun 2019 01:34:30 GMT

Re: How to Raise Your Credit Score

erdjr63 — Tue, 18 Jun 2019 21:28:32 GMT

What do I do to remove bad credit history from closed accounts. Had mortgage change hand 3 times and with each I had late payments. The final holder of account foreclosed and is now closed but late payment history still shows. What can I do to have these removed to help my score.

Re: How to Raise Your Credit Score

tagteam — Tue, 18 Jun 2019 22:07:30 GMT

wrote:
What can I do to have these removed to help my score.

You really can't do much of anything beyond maintaining a good record going forward and allowing the passage of time to take effect.

See https://www.creditkarma.com/credit-cards/i/how-long-do-late-payments-stay-on-credit-report/

On the other hand, you can and should report errors on your credit report.

See https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports

Re: How to Raise Your Credit Score

joseantoniorivera — Wed, 19 Jun 2019 06:12:16 GMT

Use new era debt solutions company. They will negotiate payment of your debts without filing for bankruptcy. They negotiate hard. I am using them successfully. They are the most coat effective company. I can recommend you to them. My email is [email address removed] if you want to email me. I just want the help you.

Please reminds me of the reason of your email if you email me.

Thanks.
Jose a Rivera

Re: How to Raise Your Credit Score

Redd — Wed, 19 Jun 2019 12:48:14 GMT

I have raised my score from a 512 to a 725 in the last 6 months by cleaning up my report to 0 negative and opening a credit builder account and several store cards and cash cards. I now have $19,800 in available credit and have 1% utilization. Hoping to buy a house next year. I have done a lot of homework to get where I am. Don't believe everything you hear and don't apply for cards that the free credit report companies say you have a good chance of getting, remember they get paid every time you apply through there web sites. Several credit card companies will let you pre qualifiy on there web sites

Re: How to Raise Your Credit Score

Lynell — Fri, 21 Jun 2019 19:01:49 GMT

What’s a credit builder account? Did you open up a low interest credit card, and if so, which bank/company?

Re: How to Raise Your Credit Score

JRay — Mon, 24 Jun 2019 11:22:13 GMT

https://www.daveramsey.com/dave-ramsey-7-baby-steps

Re: How to Raise Your Credit Score

JohnatanB — Mon, 24 Jun 2019 17:20:56 GMT

Very usefull information. Great. Thanx this community!

Re: How to Raise Your Credit Score

shaeden1024 — Tue, 25 Jun 2019 01:28:24 GMT

I went to experian on June 15 and they said my credit score was 798. They sent me an email on June 20 saying my credit score was 765. This whole credit score thing is crap. Within 5 days I dropped 33 points? None of my bills were even due at this period. And I always pay all of my bills on time. What ever happened to no more 3 credit scores when they all were supposed to merge? This is a garbage system of credit reporting. The 3 credit reporting agency's are probably getting a kick back from financial institutions to under value peoples credit score so they can charge higher interest rates!

Re: How to Raise Your Credit Score

JohnatanB — Wed, 26 Jun 2019 07:51:50 GMT

Credit scores are not included with credit reports. Additionally, credit scores are not stored as part of your credit history. Your credit score is calculated only when your credit score is requested. Your credit score can change over time, based on your credit history—including late payments, amount of available debt, and more. By the way https://www.boostcredit101.com/ nice guys who can boost your credit score.

Re: How to Raise Your Credit Score

Daved — Fri, 28 Jun 2019 03:11:24 GMT

I realize there are 3 different credit reporting agencies but When I check my score it’s different depending on what online service I’m using for the same credit reporting agency. Why?
Also recently I purchased a car (and before going I checked all 3 reporting agencies scores).
When they pulled my credit at the dealership ALL 3 numbers were different! They told me that they get different numbers that banks and credit unions use, please educate me on this “different” rating numbers used by banks and credit unions. Thanks for any information.

Re: How to Raise Your Credit Score

tagteam — Fri, 28 Jun 2019 03:27:48 GMT

wrote:
I realize there are 3 different credit reporting agencies but When I check my score it’s different depending on what online service I’m using for the same credit reporting agency. Why?

There are different scoring models (read the information at the link below). Also, different creditors may report to different agencies.

https://www.creditkarma.com/credit-scores/

Re: How to Raise Your Credit Score

Hallie — Sun, 30 Jun 2019 20:41:59 GMT

I don't understand this new credit score being used by you and some lenders lately. My FICO which we all used as a guide until recently, is 140 pts higher than what you have reported. A difference of fair/good rating to very poor. Why has the model changed, this terrible for consumers who have raised the FICO considerably. Why aren't these scores comparable?

Re: How to Raise Your Credit Score

LitaLou — Thu, 04 Jul 2019 13:23:17 GMT

Two tricks that work...
1. If you know you're going to pay the full balance each month, don't wait until your CC runs your statement. It reports that amount to the credit bureaus, which counts against your credit usage%. Instead, if your outstanding balance is for example $1,000 and the period ends June 25, then pay that balance (or a lot of it) June 23. Then when they run the report on the 25th, it'll show a balance of $0 on your credit report.
2. Always pay more than the minimum payment due--on credit cards especially, car loans, student loans, etc. Even rounding up to the next $10 makes a big difference in how credit bureaus view you.

Re: How to Raise Your Credit Score

SyannaE2 — Sun, 07 Jul 2019 15:15:19 GMT

Hi, I really wanted to see if you would help me out too with my credit scores and give me that recommended place to help raise my score

Re: How to Raise Your Credit Score

SyannaE2 — Sun, 07 Jul 2019 15:20:12 GMT

Can u please help me to get my score better.im currently at 580 and I'm 31 . I'm kinda clueless to the whole credit raising . I'm trying to buy a house too but I know I have to raise my score before I even try to. Please let me know everything I can do to get it up . How did u do it? What steps did u take and where did u start? I need all the advice and help I can get!! Please help me. My email is [email address removed]. thanks, terra

Re: How to Raise Your Credit Score

Lapellerin — Sun, 14 Jul 2019 12:58:52 GMT

I'm in your exact same boat. It looks like I'm going to have to file for bankruptcy as well.

Re: How to Raise Your Credit Score

MaryMSmith — Sun, 14 Jul 2019 13:24:15 GMT

I moved about two years ago. I had credit before but it doesn’t seem to matter. I get dinged for short credit history? I have many open accounts but only have four with any activity and it’s a below 10% amount. I’m only at 703? Pay my bills on time and rarely carry a balance. What else can I do?

Re: How to Raise Your Credit Score

tagteam — Sun, 14 Jul 2019 17:26:56 GMT

The following web site contains suggestions for improving credit scores, most of which are the same on all of the other web sites that contain credit score improvement advice.

https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/

Re: How to Raise Your Credit Score

Darkblue54 — Wed, 17 Jul 2019 23:12:43 GMT

Pay your bills on time!

Re: How to Raise Your Credit Score

Mochadream6003 — Thu, 18 Jul 2019 03:01:45 GMT

How do you keep people from checking your credit. For example amazon checked my credit, I have not replied to any ads...

Re: How to Raise Your Credit Score

Paular68 — Sun, 21 Jul 2019 21:53:07 GMT

I would like to boost my score

Re: How to Raise Your Credit Score

tagteam — Sun, 21 Jul 2019 22:08:43 GMT

You should get your free credit reports from the link below and then simply follow the suggestions and tips in this thread.

https://www.annualcreditreport.com/index.action

Re: How to Raise Your Credit Score

Visperas — Mon, 22 Jul 2019 00:15:28 GMT

You know I am in the same situation as you are. And I am searching for an answers just like you. And guess what I found it out. So are you ready and here it is simply to apply for more loan. I was told that I have to have loans like real estates, car loan as well as some other item just to prove that you can manage those monthly payment.. You can call anything you want so they say but that's way it is Period. End of quote.

Re: How to Raise Your Credit Score

VenaZ1 — Mon, 22 Jul 2019 12:17:13 GMT

Bout 12yrs+ ago I was a victim of IDTheft. My score was perfectly high, devastation, by a family member. I have not been able to bring up my credit score. I can't establish credit either. I went through a bad time. I can't even save anymore. I don't want any credit cards and I'm ok w that. I was willing to foreclose on my house, after 6yrs of not paying. No notice of foreclosure, I came to the realize I should save it. And I did. (That was a clue to save my house).
How else can I jump start my credit again.

Re: How to Raise Your Credit Score

Rilaid — Thu, 25 Jul 2019 05:41:52 GMT

When you don’t pay your debts the rest of us have to pay it, one way or another. Our debt was mainly medical but we fought our way back because we didn’t want to file bankruptcy and have others have to soak up our debt.

Re: How to Raise Your Credit Score

Neverjohn — Thu, 25 Jul 2019 23:47:56 GMT

I have 791 score its been going down slowly. I had 815. Why going down if everything is ok on my side?

Re: How to Raise Your Credit Score

tagteam — Fri, 26 Jul 2019 00:46:54 GMT

wrote:
I have 791 score its been going down slowly. I had 815. Why going down if everything is ok on my side?

It would not hurt to review your credit reports, which you can get free of charge from the site below. However, the mechanics (formulae) appear to be somewhat volatile so 815 to 791 should not be a major concern.

https://www.annualcreditreport.com/index.action

Re: How to Raise Your Credit Score

Mmadison — Fri, 26 Jul 2019 23:05:38 GMT

My problem isn’t a bunch of credit card debt or things like that. I have mainly medical debt that got judgements on my credit report but most are 5+ years old now. Am I better off paying the old debt that was sold from when I had no insurance or letting it fall off after the 10 years? I’ve had one credit card in my life and it got canceled because I tried to make a payment and it didn’t hit my bank that day 3 times, so even though I was trying to pay it in full they canceled my card. The only other debt I have is my student loan and I’m in good standing with them. My score is mid 500’s but I want it higher.

Re: How to Raise Your Credit Score

tagteam — Sat, 27 Jul 2019 00:50:10 GMT

wrote:
My problem isn’t a bunch of credit card debt or things like that. I have mainly medical debt that got judgements on my credit report but most are 5+ years old now. Am I better off paying the old debt that was sold from when I had no insurance or letting it fall off after the 10 years? I’ve had one credit card in my life and it got canceled because I tried to make a payment and it didn’t hit my bank that day 3 times, so even though I was trying to pay it in full they canceled my card. The only other debt I have is my student loan and I’m in good standing with them. My score is mid 500’s but I want it higher.

Links to a couple of relevant articles on this issue are below.

https://www.thebalance.com/should-you-pay-an-old-collection-960595

https://www.thebalance.com/tactics-for-paying-off-debt-collections-960596

Re: How to Raise Your Credit Score

shaeden1024 — Sat, 27 Jul 2019 01:04:39 GMT

I guess the real question is did you declare bankruptcy on these debts. If you did in 5 years your credit will slowly get better. Do not pay anything. What I did was apply for a high interest credit card after 8 years and used it and paid it off monthly. Never late on anything. If you did not declare I would do it now and give them nothing. Now the clock starts over. Credit card companies will be sending you offers left and right hoping you'll default again as you cannot declare for another 10 years. Get a card use it and pay it off every month. It all just takes time. This past April was 10 years that I declared and my credit score ranges from 765 to 804 depending on which agency you ask. Good luck!

Re: How to Raise Your Credit Score

SpecksForChecks — Sat, 27 Jul 2019 13:51:22 GMT

Join a credit union, ask about a service they offer that lowers debt which in turn builds credit, they will refer you to an organization that does just that. They will be free to use because of a government charter that dictates how a credit union is supposed to function, i.e they are supposed to help the low income/less fortunate and local economies.

Been working in banking for a long time. Good luck.

Re: How to Raise Your Credit Score

gene — Tue, 30 Jul 2019 21:43:54 GMT

I've seen the same pattern. Except the action of opening the account will temporarily take a large swipe at your score, it will go up month by month. After your credit limit with new accounts tabulate, you will see a significant rise as well, as per my experience. The rest is paying on time and more.

Re: How to Raise Your Credit Score

jfj — Wed, 31 Jul 2019 14:33:03 GMT

Why is there such a difference in my score between credit reporting agency's? One has my score 50+ points below another. My DTI and debt owed show completely different among the three agency's. How do I fix this?

Re: How to Raise Your Credit Score

Alexandramartina34 — Thu, 01 Aug 2019 15:57:00 GMT

You can't fix having a different credit score from the three credit agency. What you can only do is is make sure you remove any negative item causing harm to your credit rating. You can visit [website removed] and learn more yourself.

Re: How to Raise Your Credit Score

tagteam — Wed, 31 Jul 2019 20:40:12 GMT

You can visit the site below, get free credit reports, dispute inaccurate information, and learn more as well.

https://www.annualcreditreport.com/index.action

Re: How to Raise Your Credit Score

marlie123211 — Sat, 10 Aug 2019 04:17:49 GMT

Hey thank you so much for youre advice😍🥰😊

Re: How to Raise Your Credit Score

JayRund1 — Sun, 11 Aug 2019 20:26:28 GMT

You need the book "Total Money Makeover" by Dave Ramsey. It is life-changing.

Re: How to Raise Your Credit Score

McMillon — Wed, 14 Aug 2019 01:32:06 GMT

Why did score go down 90 pats?

Re: How to Raise Your Credit Score

tagteam — Wed, 14 Aug 2019 01:59:06 GMT

wrote:
Why did score go down 90 pats?

You can visit the site below, get free credit reports and dispute any inaccurate information, if necessary.

https://www.annualcreditreport.com/index.action

Re: How to Raise Your Credit Score

jmcee — Thu, 22 Aug 2019 11:50:05 GMT

When I looked through your information I saw that it says we should have a good mix of credit card and loans. Then I noticed my loan from the bank for our vehicle is not listed in the report. Can you tell me why that is?

Re: How to Raise Your Credit Score

tagteam — Thu, 22 Aug 2019 15:23:41 GMT

wrote:

Then I noticed my loan from the bank for our vehicle is not listed in the report. Can you tell me why that is?

I cannot tell you why that would be other than, possibly, your bank is not reporting your loan to the reporting agency(ies). You might want to check with your bank.

Re: How to Raise Your Credit Score

ebelfiglio — Fri, 23 Aug 2019 12:59:50 GMT

I paid off all my credit cards about 15 years ago, and its like the can't find me. I have no credit score, although I pay a cable bill a utility bill, a cell phone bill. I own my own home & pay taxes.....any help in getting them to find me

Re: How to Raise Your Credit Score

tagteam — Fri, 23 Aug 2019 15:32:11 GMT

wrote:
I paid off all my credit cards about 15 years ago, and its like the can't find me. I have no credit score, although I pay a cable bill a utility bill, a cell phone bill. I own my own home & pay taxes.....any help in getting them to find me

From Credit Karma:

If you’ve had credit in the past but no longer use credit cards, or you have closed accounts on your report, there won’t be recent activity to produce a score for you.

See https://www.creditkarma.com/credit-cards/i/if-you-dont-have-a-credit-score/

Your cable, utility, cell phone companies, as well as your county tax assessor, probably do not report your payments to any of the credit bureaus (unless you stop paying) so you need to have some sort of credit line (e.g., mortgage, credit card, auto loan) to establish a score.

Re: How to Raise Your Credit Score

CLS — Fri, 23 Aug 2019 18:09:33 GMT

Closing credit card accounts that aren't used may not be a good idea. Closing them reduces the total amount of available credit you have. This will result in your total outstanding debt increasing as a percentage of how much credit you actually had. Additionally, those accounts will age and add to your length of credit history.

Close them if absolutely necessary, otherwise let their balance and age work to your benefit.

Re: How to Raise Your Credit Score

Boymomx3 — Sat, 24 Aug 2019 11:36:42 GMT

If I have items that have been in collections since 2013-2015 I’ve heard a few different things.

1. They fall off after 7 years

2. Take a settlement and be done

3. It’s best to pay the full amount.

What do do you recommend? All of my debts are under $500ish except for one which is $3500 but I have a dozen or so, so it’s really impacting my score.

Re: How to Raise Your Credit Score

Bamber53 — Sun, 25 Aug 2019 14:13:32 GMT

Bankruptcy saved me! You get a fresh start at life!

Re: How to Raise Your Credit Score

trussell17 — Wed, 28 Aug 2019 20:00:38 GMT

Freeze your credit to keep creditors, or anyone else, accessing your credit.

Re: How to Raise Your Credit Score

Jedediah — Sat, 31 Aug 2019 16:24:39 GMT

I've recently paid down some of my debt, but my credit score went down a few points. Here's a secret: If you have NO debt, lenders will not know whether you're reliable or not. Consequently, your score will be lower than if you carry some debt, and never miss a payment.

Re: How to Raise Your Credit Score

Charlesallevato — Fri, 06 Sep 2019 17:45:35 GMT

I enjoyed reading that how to improve your credit score.

Re: How to Raise Your Credit Score

brian16 — Sun, 08 Sep 2019 13:21:27 GMT

I don't need to raise my credit score. I want my refund for 2018 Federal filing. Please take care of this.

Re: How to Raise Your Credit Score

tagteam — Sun, 08 Sep 2019 15:37:43 GMT

wrote:

I don't need to raise my credit score. I want my refund for 2018 Federal filing. Please take care of this.

You posted to the wrong thread, but the FAQ below might be able to help you with the status of your refund.

https://ttlc.intuit.com/community/refund-status/help/when-will-i-get-my-irs-tax-refund/00/25589

Re: credit Card

marles1397 — Fri, 20 Sep 2019 18:00:47 GMT

Question, I had a credit card with insurance on it. I was in a car accident and I was unable to pay, that is where the insurance comes in. I've been going back and forth to court for the past 12 years because the CU should of been paying for it. Now the bank said they do not have any paperwork on my account they gave it to a collection company, which is a lawyer. I found an old form with my name on it. Thye looked at it and that was it. I feel like I should not have to pay this bill that somehow went from $4,000+ to $11,000+ and they want me to pay that. My credit is great and I do not want to file bankruptcy. Please advise what I can do. Thank you

Re: How to Raise Your Credit Score

Kkassdrumr — Tue, 24 Sep 2019 22:24:58 GMT

I had no card except one in default we are trying to pay off. I just applied to get another at a very high interest rate because i thought it would raise my score by doing so....wow. was i wrong! My score took about an 80 point hit. I guess i am just going to need to work harder now!

Re: How to Raise Your Credit Score

Idhilsyn — Wed, 25 Sep 2019 01:26:40 GMT

One thing I don't understand. 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. I haven't missed any payments, opened new accounts, and my credit utilization is shown to be in the "AWESOME" region at 10% overall. How do I track down what went wrong?

Re: How to Raise Your Credit Score

tagteam — Wed, 25 Sep 2019 01:55:18 GMT

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

Re: How to Raise Your Credit Score

s_0 — Fri, 27 Sep 2019 20:22:25 GMT

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

Re: How to Raise Your Credit Score

ncalb55 — Tue, 08 Oct 2019 15:26:00 GMT

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

Re: How to Raise Your Credit Score

tagteam — Tue, 08 Oct 2019 15:32:50 GMT

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.

Re: How to Raise Your Credit Score

Kat — Tue, 08 Oct 2019 19:26:41 GMT

wrote:

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.

Re: How to Raise Your Credit Score

Ohhijenni — Thu, 10 Oct 2019 01:51:52 GMT

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!

Re: How to Raise Your Credit Score

Rperalez09 — Thu, 10 Oct 2019 23:06:40 GMT

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

Re: How to Raise Your Credit Score

Rakelo4053 — Sat, 19 Oct 2019 16:45:48 GMT

Love love love Dave Ramsey! Everyone should read this book!

Re: How to Raise Your Credit Score

mmt07005 — Mon, 21 Oct 2019 01:49:55 GMT

I noticed that near the end of the article it says "Having more open credit sources won’t raise your credit score."

I was under the impression that having a mix of credit accounts does help your credit score.

For example:

two credit cards would be better than one

a credit card and a loan would be better than only a credit card

Re: How to Raise Your Credit Score

joulze — Sat, 26 Oct 2019 22:47:49 GMT

You are so right. I had the remainder of a lease agreement which I did not feel I owed in another state and they were so fast in getting my wages garnished I couldn't believe it.

Re: How to Raise Your Credit Score

joulze — Sat, 26 Oct 2019 23:31:14 GMT

Re: How to Raise Your Credit Score

esca4 — Sun, 03 Nov 2019 11:28:04 GMT

if I cancel a cc will it lower my score.

Re: How to Raise Your Credit Score

tagteam — Sun, 03 Nov 2019 14:56:51 GMT

wrote:

if I cancel a cc will it lower my score.

It can have a negative impact if closing the account causes your credit utilization ratio to increase.

See https://www.creditkarma.com/credit-cards/i/how-to-cancel-credit-card/

Re: How to Raise Your Credit Score

Rainman00742 — Sun, 03 Nov 2019 19:18:03 GMT

Bankruptcy will take roughly 10 years to fall off your credit report. If you can afford to start paying off some of your collections. It doesn't have to be full amount . You can make payment arrangements. sometimes if you pay in full they are willing to take less! Patience is key itll probably take 3-5 years to get around 800 while being diligent with money and how you impact your credit

Re: How to Raise Your Credit Score

Rainman00742 — Sun, 03 Nov 2019 19:23:03 GMT

If you need help start with a place like finger hut. Sounds crazy but it truly does work, I'd suggest looking into that. Also capital one SECURED credit card would be helpful too!

Re: How to Raise Your Credit Score

Rainman00742 — Sun, 03 Nov 2019 19:25:44 GMT

If you have credit cards keep them around 20% utilization rate when the billing cycle ends. People who say pay off fully are incorrect because then it looks like your not paying towards anything and credits want to see you can properly pay towards something on monthly basis . If you dont I'd open a finger hut account or capital one secured card. 2 quick ways to build credit for lower credit users.

Re: How to Raise Your Credit Score

Samimav — Mon, 11 Nov 2019 19:11:02 GMT

I am 35 with perfect credit the highest! I know what your thinking...I am not rich by any means! My mom gave me the best advise when I turned 18 and I’ll pass that on to you! They want to see you pay off debt repeatedly every month debt can mean anything from $1.00 to infinity. So the fasted way I was able to start building and raising my score from an early age was to open a credit card or two! YOU HAVE TO HAVE A PLAN and most importantly SELF CONTROL! I would take my credit cards that of corse had super high interest rates and once a month I would use them in a gas station to buy a soda or candy bar 5.00 purchase! And then I would go home and pay it off at my computer right away. Do this with 2 cards once a month and pay it off right away. Paying it down to zero once a month will avoid you paying any interest at all meaning zero interest! Easy as that! Like I said all they want to see is action on your card so use it for a small amount and pay it off right away back down to zero! Watch your score grow but most importantly never cancel a card! Having a card open for years raises your score too! If you don’t want to use a card anymore put it in a drawer Instead. This is the best advise I can give anyone... remember you don’t have to spend a lot of money to gain credit it can literally be a soda or a candy bar! Keep it manageable and don’t lose control!

Re: How to Raise Your Credit Score

SHB22 — Thu, 14 Nov 2019 18:41:19 GMT

I am so confused, I am never late on payments, I barely owe anything, we paid off everything, including mortgage . Why will my credit not climb? its at 692

Re: How to Raise Your Credit Score

kra1270 — Thu, 21 Nov 2019 19:40:00 GMT

what is a credit builder account?

Re: How to Raise Your Credit Score

8765 — Sun, 24 Nov 2019 19:15:06 GMT

Which credit company do you use to quote a credit score? They never seem to agree. Many times the experian number is a lot lower than the other two, but yet Experian seems to be contacted the most.

Re: How to Raise Your Credit Score

bstollyy — Tue, 03 Dec 2019 23:48:32 GMT

If you have a way of fixing it, instead of bankruptcy, I would certainly give it a go, but sometimes you are so much in debt that there truly is no way to fix it,but to file bankruptcy.... I just finally got my 10 year Bankruptcy to be fully removed from my credit reports... I thought once it got removed that my score was going to go up by at least 40 points, NOT, Didn't go up at all, but at least it didn't go down, I have heard horrible stories about it making people's credit score lose tons of points! Anyways, my friend, even if you have to file bankruptcy, I know that you won't make the same mistakes ever again, you live and learn, and slowly keep growing your credit scores.... Good luck my friend...

Re: How to Raise Your Credit Score

Sbrown — Fri, 06 Dec 2019 21:04:48 GMT

Why did my credit score go down 5 points

Re: How to Raise Your Credit Score

tagteam — Fri, 06 Dec 2019 22:45:32 GMT

wrote:

Why did my credit score go down 5 points

Five points either way is just background noise; it is inconsequential.

Re: How to Raise Your Credit Score

kevinwxbox1 — Mon, 09 Dec 2019 18:04:33 GMT

Thank you for the information, it was very useful.

Re: How to Raise Your Credit Score

mdm2255 — Fri, 13 Dec 2019 13:40:59 GMT

I find is discouraging that every time I PAY OFF a debt, my credit score seems to take a hit.