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| *Loan,banking and credit>>>credit score |
How do i get my credit score up? |
How do i get my credit score up? First and most importantly, never miss a payment of any sort, be it credit card, utility bill, whatever. They all report into the credit reporting agencies and that is the biggest impact on your score. Second, sort of goes without saying, but don't ever declare bankruptcy. Third, you have to build a reliable "debt history" which means borrowing and repaying money to prove that you can do it. An easy way to do this is to get a credit card, charge all your expenses to it, then pay the balance in full every month. This avoids the cost of interest payments, while building credit history. Just be careful -- if you start carrying balances over, credit card debt can become very costly. borrow tons of money... get very deep in debt... and pay your bills on time... each month.. .never miss a payment... then you can borrow even more. Over time, your score will go up. that is all a fico/credit score is, a "I love debt" score.... overall, it's not a very good plan... but everyone seems to worry about "credit score"... a better plan is to not borrow, save lots of cash, pay cash for things... forget about credit score... http://www.daveramsey.com theres many, many ways to build your credit. But one of the best ways ive learned, is not to use most of your credit line. Its best to use about 70% of your total credit line and then pay it off on time. Never show the banks that you're using 100% or more of your credit line, they'll start to see that your using more money than what you need, therefore they wont go through the hassle or risk of lending you money. Banks like it when you control your money instead of blowing it all. Experience make your payments on time. YIKES, El. 70%? If I used 70% of my open credit, I'd be in debt up to my eyeballs. I probably carry a balance equal to about 10% of my available credit! Pay your bills on time Get copies of your credit report to verify that everything is accurate - many times credit reports will have inaccuracies. |
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