What can I do that will TRULY raise my credit score?
chumley asked:
I’ve recently paid off old chargeoffs (by the way, it DOES help your credit score — it raised mine by 50 points); and now I want to raise it by at least another 50 points. Will getting a car loan (that, obviously, I can afford the monthly payments on) help? Is there anything else I can do (besides the obvious – pay bills on time, etc.)? What about credit monitoring companies? Are there any that charge only a monthly fee and don’t charge another large fee every single time I want to look at my newest reports?
Phyllis
I’ve recently paid off old chargeoffs (by the way, it DOES help your credit score — it raised mine by 50 points); and now I want to raise it by at least another 50 points. Will getting a car loan (that, obviously, I can afford the monthly payments on) help? Is there anything else I can do (besides the obvious – pay bills on time, etc.)? What about credit monitoring companies? Are there any that charge only a monthly fee and don’t charge another large fee every single time I want to look at my newest reports?
Phyllis
John
The fastest way to boost your credit is to get a small loan for 24 months and pay it back in 12.
Charlie
To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your score you’ll get your credit report, an indication of how your score ranks nationally and an explanation of how you can boost your standing.
In order to improve your credit score, it’s important to know where you stand currently. Despite all the media attention given to free credit reports you still have to pay to find out your credit score, the three-digit number ranging from 300 to 850 that is the key to your borrowing costs.