Tuesday, June 1st, 2010

how do i raise my very low credit score?

Low Credit Score Credit Cards
Juicy asked:


My credit score is very low. I have some credit cards, and student loans on my report. I currently have a car note, that is up to date, and i really want to buy a house. I am in the process of overlooking my report to check for mistakes, and i am in the process of disputing some things. Any positive advice would be greatly appreciated.

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5 Responses to “how do i raise my very low credit score?”

Emerald Says:

You can do it – don’t pay anyone to repair your credit because you can do it yourself for free (or at least the cost of stamps :)

1 – If you haven’t already get current copies of your credit reports from the 3 major bureaus (Equifax, Experian and Transunion)
2 – Take a photocopy of each and put the originals in a binder
3 – Get a highlighter and highlight any account that is negative (collections, written off, older than 7 yrs, etc…)
4 – Any inactive account that is older than 7 yrs should not be deleted from your report. Download a dispute letter from the credit bureaus website(s) and fill in the details.
5 – For collection/overdue items, if they are greater than 7 yrs dispute them as well
6 – If there are still valid debts, you need to contact the creditor and negotiate a ‘pay for delete’ in addition to a payment plan if you cannot pay in full. If they start hounding you send them a ‘cease and dessist’ letter stating they may only contact you in writing.
7 – Do not apply for any credit while you are doing this or for the next year (ideally 2)
8 – If you currently have any credit card or loan balances, pay them off or at least pay them down to bring them current
9 – If you need a credit card, get a secured card from Capital One for $500 (or more if you can)….use it sparingly for like only $25-50 and pay in full and on time every other month or so to establish good re-payment history. A little patience and 2-3 months, you’ll be on your way.

Boogie Rock Says:

I’m doing the very same thing right now. What I do though is go here.
It’s the best place I’ve found so far that has a very comprehensive amount of knowledge. And everyone there is very nice and very helpful.
Good luck!

Cash Says:

I assume you still have the credit cards. One option is if you have scattered credit, better consolidate that. Pay bills/loan on time. Don’t borrow more than 50% of your total credit limit.

also check for credit score related information

heybulldog Says:

You have to borrow money and make payments. That’s the only way to raise your score. You have to keep borrowing money and keep making payments on time to keep your score high.
It’s an I Love Debt score! It keeps you in debt.

Live on less than you make. You will not have payments! You’ll have money and will not have to worship at the alter of the almighty fico score.

Clay Says:

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-free.totalh.com

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