Comments on: How long for credit report score to catch up with a new income? http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/ Wed, 17 Aug 2011 05:23:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: SPIFIMAN1 http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/comment-page-1/#comment-822 SPIFIMAN1 Mon, 06 Jul 2009 01:07:50 +0000 http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/#comment-822 Credit scores are based on the following factors; 1. Payment history 35% 2. Time in bureau 15% 3. Types of credit 10% 4. New credit 10% 5. Debt to credit ratio 30% As you can see income in not mentioned in the above because it has nothing to do with credit scores. If you have credit card debt pay it down to less then 30% of your limit and your score will go up. Or better yet pay them off if you can and then use them for every day things and pay in full every month before the due date. If the accounts have gone to collections do not pay them until they agree to a pay for delete agreement this simply says that in exchange for your payment they agree to remove the account from your credit report. Paying old collections without this agreement actually hurts your score because the accounts become current rather then old as soon as you pay anything on them. Credit scores are based on the following factors;

1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%

As you can see income in not mentioned in the above because it has nothing to do with credit scores.

If you have credit card debt pay it down to less then 30% of your limit and your score will go up. Or better yet pay them off if you can and then use them for every day things and pay in full every month before the due date.

If the accounts have gone to collections do not pay them until they agree to a pay for delete agreement this simply says that in exchange for your payment they agree to remove the account from your credit report. Paying old collections without this agreement actually hurts your score because the accounts become current rather then old as soon as you pay anything on them.

]]> By: Slimick http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/comment-page-1/#comment-821 Slimick Sun, 05 Jul 2009 16:46:18 +0000 http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/#comment-821 Your income has no effect whatsoever on your FICO score....You FICO score is based on your record of paying (or not paying) revolving credit items like credit cards and loans.... Your income has no effect whatsoever on your FICO score….You FICO score is based on your record of paying (or not paying) revolving credit items like credit cards and loans….

]]> By: Born 2 shop http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/comment-page-1/#comment-820 Born 2 shop Thu, 02 Jul 2009 23:38:21 +0000 http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/#comment-820 Any change to your credit report employement charges new account etc. It all takes the same amout of time to show up on your report which is 3 to 6 months. You can contact anyone of the 3 credit bureaus or go to there webpage it is on there. Any change to your credit report
employement
charges
new account
etc.
It all takes the same amout of time to show up on your report which is 3 to 6 months. You can contact anyone of the 3 credit bureaus or go to there webpage it is on there.

]]> By: ? http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/comment-page-1/#comment-819 ? Wed, 01 Jul 2009 07:29:22 +0000 http://raiseyourcreditnow.com/how-long-for-credit-report-score-to-catch-up-with-a-new-income/#comment-819 Wages may matter when applying for credit, but do not affect your credit score at all. What affects that is your length of history paying different types of credit on time, and how much of your available credit you are using. Canceling cards can actually reduce your credit score if you still have outstanding debt, because you will be using a higher percentage of your "available" credit. Wages may matter when applying for credit, but do not affect your credit score at all. What affects that is your length of history paying different types of credit on time, and how much of your available credit you are using.

Canceling cards can actually reduce your credit score if you still have outstanding debt, because you will be using a higher percentage of your “available” credit.

]]>