Announcement Announcement Module
Collapse
No announcement yet.
Improving the credit score? Page Title Module
Move Remove Collapse
X
Conversation Detail Module
Collapse
  • Filter
  • Time
  • Show
Clear All
new posts

  • Improving the credit score?

    Hi Curlies -
    One of my goals is to improve my credit score. After a major blow a while back, I've slowly gotten my score back into good range and now I'm itching to get it to excellent, lol. Has anyone made or can make suggestions on how to significantly raise your score? I know it takes time, but like I said, It's one of my major goals so I'm going for it.

    Between 700 and 850 Very good or excellent credit score.
    Between 680 and 699 Good credit score.
    Between 620 and 679 Average or OK score.
    Between 580 and 619 Low credit score.
    Between 500 and 579 Poor credit score.
    Between 300 and 499 Bad credit score.

    I have a car loan, school payments (3, eek!), retail cards (Macy's, NY&C0, Victoria Secret) and a personal loan. I pay them monthly and am never late. I had a regular credit card but closed it when it got me in trouble (yes, I blame the card not ME, LOL) and have been paying that off monthly. Was thinking of reopening that card, but would have to tell BOA to lower the credit limit.

  • #2
    Idk, but am going to lurk bcuz I want to do the same.

    Sent from my PC36100 using CurlyNikki App

    Comment


    • #3
      You should never close the accounts, just pay them off. Closing them looks bad on the credit report. Besides what you are currently doing now, paying everything on time _ I say you are doing pretty good. I would aim to pay off the student loans and personal loans and keep credit cards a 1/2 of the max. You don't want to have too much going on. All you really need is one major credit card - that offers reward incentives. The car alone and maybe one credit card does wonders to improve your score. Just make sure all creditors are reporting.

      Having too much may conflict with you if you ever want to buy a house. Debt to income ratio will come into play - even if you have a perfect score. Banks have gotten very strict about lending - escpecially in the housing market. You have to have just as much coming as you have going out (money wise).

      We all have had credit issues. I did away with credit cards, I use my check card for all purchases or cash. I have car loans and that's about it. I hope to purchase a house in the next couple of years.

      Comment


      • #4
        I'm working on building my credit. Its so hard though when u start out with no credit but it does take time....a lot of time.

        Sent from my SGH-T839 using CurlyNikki App

        Comment


        • #5
          I just closed my oldest account with Capital one. I know people say don't close them but I haven't used it in over three years and I got tired of paying a $39 member fee for something that had a zero balance. Hopefully my credit will survive that.
          Just Curlz Hair Blog www.justcurlz.com
          Tweet with Just Curlz's @Just_Curlz
          www.facebook.com/Just.Curlz

          Comment


          • #6
            You can try writing the credit bureau to dispute any discrepancies on your report if you have any.
            BC 2/10/12

            Comment


            • #7
              I would suggest using the debt snowball plan as part of your journey to be debt free. You can read about it here and it even has a worksheet you can use. Get Out of Debt with the Debt Snowball Plan - daveramsey.com
              Rocking this head of curls since June 3, 1982!

              Yeah, I have GOOD HAIR, and SO DO YOU!

              Comment


              • #8
                I am trying to up my credit so bad because I have NOTHING on my credit report.

                I have a student loan I am a month ahead on, a store credit card and thats it. Never had a car payment, or owned a house. Its so hard. I tried to get a car loan and no one will give me one without a co-signer and none of my family was going with that (But Im not hating on not having a car payment! I'm loving it! lol).

                Trying to open a major credit card. Maybe Capital One.
                My Staples
                Pre-Poo: Castor, EVCO and Jojoba Oils
                Shampoo: Rhassoul Clay
                Co-Wash: Pantene Conditioner
                Deep Conditioner(s): Dax Roots Hair Mayonnaise & Pantene Deep Conditioner
                Leave-In(s): KCKT
                Sealant(s): EVCO
                Styler(s): Pantene Defining Curls Custard




                Comment


                • #9
                  Originally posted by Perm2Natural View Post
                  I am trying to up my credit so bad because I have NOTHING on my credit report.

                  I have a student loan I am a month ahead on, a store credit card and thats it. Never had a car payment, or owned a house. Its so hard. I tried to get a car loan and no one will give me one without a co-signer and none of my family was going with that (But Im not hating on not having a car payment! I'm loving it! lol).

                  Trying to open a major credit card. Maybe Capital One.
                  Try to go with a credit union. I hear bad things abt Capital One. Ask for the minimum and after a year, ask for an increase. This is what help kick start my credit. Its good to have at least two major credit cards on your credit report. Also have a revolving acct such as furniture, or car payment for example.

                  Comment


                  • #10
                    Originally posted by Perm2Natural View Post
                    I am trying to up my credit so bad because I have NOTHING on my credit report.

                    I have a student loan I am a month ahead on, a store credit card and thats it. Never had a car payment, or owned a house. Its so hard. I tried to get a car loan and no one will give me one without a co-signer and none of my family was going with that (But Im not hating on not having a car payment! I'm loving it! lol).

                    Trying to open a major credit card. Maybe Capital One.
                    If you've never bought a car before, they don't let first time car buyers purchase a car without a co-signer which is stupid. Definitely go with a credit union like the PP said. If you know any close friends or family members who bank with Navy Federal, have them help you get an account with them. They will give you a car loan in a heartbeat! Also, you can get a credit card through them as well. They work with you too.


                    Sent from my iPhone4💋 using CurlyNikki
                    ALLAH is my Protector, my Guide, and my Salvation by night and by day. Ahmen.

                    Comment


                    • #11
                      Thanks girls!
                      My Staples
                      Pre-Poo: Castor, EVCO and Jojoba Oils
                      Shampoo: Rhassoul Clay
                      Co-Wash: Pantene Conditioner
                      Deep Conditioner(s): Dax Roots Hair Mayonnaise & Pantene Deep Conditioner
                      Leave-In(s): KCKT
                      Sealant(s): EVCO
                      Styler(s): Pantene Defining Curls Custard




                      Comment


                      • #12
                        Secured credit card

                        Originally posted by Perm2Natural View Post
                        I am trying to up my credit so bad because I have NOTHING on my credit report.

                        I have a student loan I am a month ahead on, a store credit card and thats it. Never had a car payment, or owned a house. Its so hard. I tried to get a car loan and no one will give me one without a co-signer and none of my family was going with that (But Im not hating on not having a car payment! I'm loving it! lol).

                        Trying to open a major credit card. Maybe Capital One.

                        I would look into a secured credit card first to establish or re-establish your credit.

                        Read.http://www.foxbusiness.com/personal-...ards-for-2012/

                        You put a deposit into a bank account and charge against the balance. Look for low initial deposit, low annual fees, low intrest rates and make sure they report to the credit bureau. My local AFGE union offers a secured card for $250 to start through HSBC bank. I believe you avoid getting points off your credit for being turned down because they don't run a credit check. After 12-18 months you can apply for an unsecured credit card if you have a good payment history. I had to start over after the housing mess.

                        Walmart offers a money card which works along the same premise but they don't report to the credit bureau.
                        Last edited by farfalla52; 03-21-2012, 04:31 PM.

                        Comment


                        • #13
                          Iam also trying to raise my credit score. I was young and dumb back in my college days. I had a store card for just about every store imaginable. That buy now pay later and get that discount was the best thing to me back then. I also had convinced myself that since the billing address was the address to my school and not my home that if I never paid the bills They would never find me. I wish the older me could go back and smack the young me lol.

                          I don't even know where to begin with building it up. Any suggestions??

                          Comment


                          • #14
                            Originally posted by JenEros View Post
                            Iam also trying to raise my credit score. I was young and dumb back in my college days. I had a store card for just about every store imaginable. That buy now pay later and get that discount was the best thing to me back then. I also had convinced myself that since the billing address was the address to my school and not my home that if I never paid the bills They would never find me. I wish the older me could go back and smack the young me lol.

                            I don't even know where to begin with building it up. Any suggestions??
                            Are all the old cards still on your credit reports? I would begin by pulling each credit report from all three agencies and see what each one says. Then I would start by contacting the creditor's and/or collection agency they may be with and start a repayment plan. Sometimes they will reduce the full amount owed. Once paid off - may sure it's reflected and updated on your credit reports. Also you can send each agency proof that the debt has been paid in full.

                            Once that is complete - you need to start the process again of rebuilding good credit. You only need to two good credit accounts reporting on you and be in good standing with each. Meaning, pay each month, without a lapse. Your credit will gradually increase over time.

                            Car purchases also boost your score and on-time payments each month.

                            I hope this helps.

                            Never believe the hype that a company (i.e. credit repair) can repair/fix your credit - that is a lie.

                            Comment


                            • #15
                              Originally posted by BlondeByDesire View Post
                              Are all the old cards still on your credit reports? I would begin by pulling each credit report from all three agencies and see what each one says. Then I would start by contacting the creditor's and/or collection agency they may be with and start a repayment plan. Sometimes they will reduce the full amount owed. Once paid off - may sure it's reflected and updated on your credit reports. Also you can send each agency proof that the debt has been paid in full.

                              Once that is complete - you need to start the process again of rebuilding good credit. You only need to two good credit accounts reporting on you and be in good standing with each. Meaning, pay each month, without a lapse. Your credit will gradually increase over time.

                              Car purchases also boost your score and on-time payments each month.

                              I hope this helps.

                              Never believe the hype that a company (i.e. credit repair) can repair/fix your credit - that is a lie.
                              Yes they are still there. I've paid a few off and it still says charged off as bad and the ones that I haven't paid say the samething. A few have hit that 7 or 8yr so shouldn't they becoming of my report soon anyway? I'm paying what I can but it doesn't seem to be making a difference

                              Comment

                              Working...
                              X