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What are the best ways to incease your credit score

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tjs1331



Joined: 02 Jul 2007
tjs1331's page
Posts: 1



134 Magic Points

Subject: What are the best ways to incease your credit score
 
Posted on Mon Jul 02, 2007 9:40 pm  

I didn't realize there was a credit forum, I just posted this on the mortgage forum not knowing about this one.

I have a 645 credit score right now and would like to bring it up to at least 680. Do you know how low I need to pay down my balances on my credit card to really see an impact on my score.

Also, there has been a lot of talk latley about adding seasoned trade lines or piggy backing to a trade line. The concept makes sense, I remember when my parents added me to their Amex as an authorized user before i got married and my score improved by 50pts. Does anyone have experiance with the company or icb? The gaurentee an increase.

tradelinesolutions.com or icbtradelines.com

is there anyone that can recommend a good book on credit repair? Thanks
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30065 Magic Points

 
Posted on Tue Jul 03, 2007 8:20 am  

There are certain ways which can help you to improve your credit score,

  • You can pay all your bills on time as late payments have a negative effect on the credit score;
  • You can try and keep the balance low on the credit cards;
  • You may pay off the debts rather than moving it between credit cards
  • Do not apply for or open new credit if you need them.
  • Verify your credit report frequently for accuracy and contact the creditor and credit reporting agency to correct any errors
  • If you have missed any fee, get up to date and stay up to date.
For further queries, do post. Smile
Morningstar

Morningstar

Joined: 17 Apr 2007
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Posts: 576



11 Magic Points

 
Posted on Tue Jul 03, 2007 11:42 pm  

I have heard that the credit bureaus are taking a hard look at the practice, and may scrap the reporting of "authorized user" tradelines altogether.
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I don't dream since I quit sleeping
123



Joined: 05 Jul 2007
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76 Magic Points

 
Posted on Thu Jul 05, 2007 7:36 am  

Hi tjs,

I don't think that they can guarantee any increase, bypassing the regular procedure. It's a time taking process and I would recommend you to stay away from credit repair agencies.

You can try the following books on credit repair:

    The Credit Repair Kit by John Ventura
    Credit Repair by Robin Leonard
    The Credit Repair Rip-Off by Bob Hammond


You can also try DiMaggio's "Credit Repair: What the Credit Industry Doesn't Want You to Know".
Laura

Laura

Joined: 21 Jun 2007
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36452 Magic Points

 
Posted on Fri Jul 06, 2007 4:01 am  

Thanks a lot. The suggested books will be really helpful.
_________________
Regards,
Laura.
Denon
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Subject: Credit Repair
 
Posted on Tue Jul 10, 2007 3:35 am  

I have a credit score of 617.I just tried to buy a car.The salesman lead me on to a third party.He stated that because I have a repossesion as of the year 2001($12,000.00).He would rather they take it off for me before it gets charged off and my credit score would shoot up to around 700.This will enable me to get a better interest rate and possible finance a new car rather than pre-owned, not that it matters.Is it worth taking the service.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: Improve credit score
 
Posted on Mon Aug 13, 2007 3:07 am  

My credit score is 530. How do I improve it?/ Of course, I have deliquent accounts. Any way I can get rid of them? Any advice?/
Laura

Laura

Joined: 21 Jun 2007
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36452 Magic Points

 
Posted on Mon Aug 13, 2007 4:31 am  

See wendy,

when you have a delinquent account which is yours, the liability remains yours as well, its for your good if you pay off your debts. That would increase your score slowly but steadily. If they are not yours then go ahead and dispute them.

Also remember, depending on the kind of debt see whether they are out of your SOL or not. In that case you wont be forced to pay the debt though it will still remain yours. However if the account is out of the SOL keep in mind that if you make a payment your SOL will renew all over again.
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Regards,
Laura.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: Credit score
 
Posted on Tue Aug 14, 2007 12:09 am  

Slowly, but, surley, I am payong debts off. Can I, please, ask a question of you? ( may sound crazy), but, what does SOL mean? Thanks for the advice.
Morningstar

Morningstar

Joined: 17 Apr 2007
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11 Magic Points

 
Posted on Tue Aug 14, 2007 12:58 am  

SOL = Statute of Limitations

This means the amount of a time a creditor has to file suit against you in order to obtain payment on a debt. It varies from state to state and also with the type of debt (credit card, contract, etc...).
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Laura

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Posted on Tue Aug 14, 2007 4:24 am  

Great... initiative is what is required. Be on your guard and keep paying your bills on time. Things will be good once you streamline all the delinquent and regular paid accounts.

Good Luck Smile
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Regards,
Laura.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: Credit score
 
Posted on Tue Aug 14, 2007 10:58 am  

SOL..I should have known that. LOL I am working on my credit, little by little. I was the type of person who wanted to solve things right away. But..you find out ( the hard way), that " Rome wasn't built in a day". Thanks for the advice everyone.
Laura

Laura

Joined: 21 Jun 2007
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36452 Magic Points

 
Posted on Thu Aug 16, 2007 6:29 am  

Yes it does take a lot of time to solve a problem than what we actually think it should.
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Regards,
Laura.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Sat Aug 25, 2007 7:39 pm  

Have a comment, on the 'trade lines' thing. I've been getting ALOT of those kinds of ads lately..........." we'll increase your score by 200 points," Well.........a few I have read about are crazy!! They will " give you a line of credit ( for a price, that is) If you pay them $1000.00-$1500.00, they will "give you the 'POSITIVE' credit for 2-5 years." $2000.00-$2500.00 they will give you " credit for 5-10 years". They won't START the 'credit' until your 'fee' is PIF. ALSO.....they charge a monthly 'debt fee'. GOD!! How can companies be SOOO decieving??!! This what the 'Seasoned Trade Line ' is. Really something, when you read the 'fine print'.
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1327



36452 Magic Points

 
Posted on Tue Aug 28, 2007 7:37 am  

I wonder why they are not being stopped. How can any company increase mt score? the amount of money they are asking for can pay off three of my debts. I would never go for such monstrous services
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Regards,
Laura.

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