How can you raise you credit score even when you pay on time?
Question by amhjp1820: How can you raise you credit score even when you pay on time?
Ok, past credit messed me up. I have a judgement that’s almost paid off. I am trying to raise my credit score. I have 3 new accounts that I’ve paid on time for over 1 year. I read that one way to raise your score is to “piggy back” on a relatives good credit (have them add me to one of their good accounts and not use it) Is this safe, is it legal? I would love to hear constructive ways to increase my credit score. Please don’t judge me. Almost all of my “bad” credit accounts have been paid off. I put my sons first when the divorce came. They lived in the house that I paid for while I lived in a basement.
Best answer:
Answer by Sugarbaby
Did you know each time someone checks your credit score it goes down? I didn’t know this until they told us.
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Pay more than the minimum, even it is only 25 or 50 dollars. Don’t depend on somebody elses credit to make yours better.
Theres no easy way to raise to raise your credit score, you can go years without borrowing credit but have a bad rating die to the fact that you have not borrowed, to improve your rating the best you can do is ensure the loans cards you have are paid on time and you dont into overdrafts etc too excessively. People fail credit scores but when we receive a failed credit score it is not immediate to why this has failed a number of things are because of it, nd as stated before this could be due to the fact that you have no credit or borrowing at all, its all very fickle!!
I hope this would help you:
Step-by-Step Credit Repair Guide
http://www.debt-loan-refinance-mortgage-credit.com/category/Step-by-Step-Credit-Repair-Guide.html
Here are a couple of things you can do to raise your credit score quickly.
1) Have a relative with great credit add you to their credit card account. This can raise your score over 100 points instantly, and has not risk to them! Even though your relative can add your name to their credit card account, they don’t have risk if they don’t give you a credit card.
2) Use your credit cards for monthly purchase, then pay balance down to zero every month. If you have the cash, this is a very quick way to raise your credit score. Remember, creditors cannot “see” your income from the credit report, but they can tell you have financial strength when you pay down your card balances every month. This technique can raise your credit score up to 80 points.
3) Use time. Most people don’t realize that a bad credit item has the most weight only in the first two months, then hurts your score even less after 6 months, and even less after 2 years. After 2 years, many bad credit items don’t even hurt at all. I know a friend with 6 chargeoffs that are 4-6 years old and her credit score is 620, good enough to buy a house. Sometimes waiting even a month or two for a bad item to age is all you need for your credit score to bounce back.
It doesn’t mean you are a bad person when you have a lower credit score. Bad things just happen. Good luck with your credit score!