Can I improve my credit score quickly?

Hi Jacob,

You need to take care of your balance/credit-limit ratio. You score will go on increasing as you continue to bring your balance down to less than 50% of your credit limit.

Also do take care that correct information appear on on your report. If any unwanted problem is there then fix it at once.

In this way you can improve your credit score within a short period.

Regards,
Blue

hi jacob,

welcome to mortgagefit forums.

your statement shows that you are already in the process of improving your credit score. at least your eagerness to learn the tips shows that, and i am sure you yourself will definitely be able to improve your score with your sincere efforts.

as a friend of yours, knowingly i cannot advice you any thing which is not correct. please come out of this misconception that there is any short cut to erase your bad credit records.
some people try to allure you saying that they can give tips to improve credit score quickly. but practically what happens is that they take out the money from you without doing anything as it is not in their hands.

try to follow these simple steps and you will find your credit score improving steadily -

• try to pay down your bills on time
  
• try to pay off your balance debts and reduce your credit card charges
  
• try to avoid closing your paid-off accounts as it may ultimately result in decreasing your score
  
• try to avoid any new credit accounts
  
• try to avoid filing bankruptcy unless it becomes an emergency
  

also, check your credit report on a regular basis to rectify any discrepancy. besides, if you are making a major purchase, try to avail a copy of your report within 3 to 6 months of the purchase. then if you find any inaccurate information there, you should at once get it corrected by the credit reporting agency.

these simple ways will help you to improve your credit score.

feel free to ask if you need some more clarifications.

god bless you.

for mortgagefit,
samantha

There are a lot of companies that claim they can repair your credit and charge a monthly fee. These companies challenge items on your bureau 1 item at a time and usually drag it out over several years. Yes there are a lot of scams out there also so you need to be careful of who you use.

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Blue is correct that if you have any credit cards that are close to the limit that paying these down will improve your credit score within the next month or two. Creditors usually report every month or two.

In addition, if you have negative items on your credit report such as collections, then go ahead and dispute all of the negative items with the credit reporting agencies. If the creditor does not respond within 30 days then the negative item will be deleted. The three major agencies are equifax, transunion, and experian. The all have a website so you can start there.

No there are no shortcuts. Really credit is the easiest thing in the world. Pay all your bills on time, keep your available credit balances low, wait for a period of time, and you will have good credit. That is really it.

There is no quick way! it takes time and lots of effort.

I don't understand why closing a paid off account would hurt your credit score. Some of the things that hurt your credit score are dumb .I would think that closing a paid off account would be a good thing.

Open accounts are a good thing. Well not a good thing, a GREAT thing. Age is a very very important variable in having a good fico and can mean the world of difference when it comes to getting loans and what not.

I was reading where it said that having to many open accounts was bad for your credit.Then thy said it is good.Very confusing.Also I read that every time you appy for credit it looks bad.

having a 'variety' of open tradelines is good. If all of them are 'revolving' accounts then a lender may have you close a card in case you fall into seriously debt. Has this happened before? Yes. Happens when borrowers have 4-5 credit cards with over 10k limits, and they only make 30-40k per year.

I only have 1 in my name and one in my hubby's.My hubby's only has a 500 limit and mine 2,500. My hubby maxed mine out, after he maxed his.He is a juggler. He scares me to death with debt.

I read that having more than three MAJOR credit cards is hurting your credit. So have as many cards as you want as long as the logos (visa, mastercard, am express and etc.) on the cards are not more than three different

It doesnt hurt your FICO score if you have low balances on all the cards. Lenders also have their own credit criteria which may affect your chances of obtaining a loan

I would think that the low balances wouldn't matter too musc. Building credit is a slow process but the reward is great.

True fireyone, I am learning that the hard way, you never know how much good credit means until you have bad credit, I have been fighting this demon for a while now, it is a long road and one of the hardest tasks that I have taken on. If I would only card this much 5 years ago, I would not be in this mess.

All I can do for now is to clean it up and keep it clean from there.