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| *Loan,banking and credit>>>credit score |
Increase My Credit Score? |
For the Last few months i been obsessin about my credit score..when i first checkd it, it was 654..Now that i paid off unpaid bills and after a few online disputes to remove these..my score is now 521..which was really dissappointing..Anyway for now i took out a secure loan from my bank..borrowing against my self..i hear this helps..Is there anything else to help me without leanin towards credit cards Are there any other ways to get my score up there!? Help Getting a secured bank loan is excellent. Be sure to take the funds and open another bank (savings) account at another bank. Wait 1 week. Come back and get another secured loan against the amount in the account. Go to a third bank and do the same. Take the funds from bank #3 and pay off the first loan within 30 days. Do the same with bank loan #2 by the 28-30 day of loan #2. Pay loan #3 the same way. Overall, you only use the secured loan to open accounts and get loans and pay them off within 30 days. Your credit report should reflect 3 bank loan PAID IN FULL within 45 days. This looks VERY GOOD as bank loans are not easy to secure. You can also get department store credit cards. Buy small items like underwear or cologne. Buy only 1 or 2 small inexpensive items each month to ensure you pay off the total every month. Don't carry over a balance. You should have top notch credit within 6 months! It's about debt ratio and how likely it seems you are to pay back a creditor. Just give it some time and it will go back up. If you are disciplined enough, get a credit card and use it like a debit card. Put a certain amount of money on it and only use that much every month. You can't really prove you are responsible with credit if you don't have any. You can get prepaid cards or even an american express (you have to pay the balance every month). By implementing these tips you could save hundred of dollars in interest in the long run and put cash back in your pocket in the short term. 1) Avoid using cash and borrowing from family for all your purchases. In the eyes of creditors no credit history is the same as a bad credit history. You may get away with paying cash for your car but when you buy your first home it will come back to haunt you. Even if you can afford to borrow or pay cash try opening an account to buy your furniture, automobiles, or home improvements. A diverse credit background will help with your credit score. 2) Your credit report tells all. Do not lie or stretch the truth to lenders, banks, or employers. They will easily catch you and the consequences are not worth it. 3) Do not cancel credit card accounts to improve your credit. The intended affect may be the opposite of what you expect. You can hurt your credit by canceling your credit cards; especially if you have a long history with the account. Losing a ten or twenty year credit history isn't worth it. If you absolutely must stop using a card, try shredding it. An open account that doesn't have a balance looks far better then no credit account at all. 4) Starting early is always better when establishing credit history. Getting a teenager or college student a credit card is a great way to get their history started. For those who don't trust their child's judgment yet there are many prepaid cards that report to credit bureaus. Read more from: http://www.credit-card-gallery.com/artic... |
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