1 year, 4 months ago
What are some ways I can raise my credit score?
My credit score stinks. What tips can you share to help my raise my credit score?
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$1 Answer
Having a good credit score can be a great help when you need to buy a car or house. The better the score, the more likely you will get the loan as well as a good interest rate to boot. There are a number of things that go into having a good credit score. Having a couple types of credit is better than just one. Loans and credit cards are two different types. The balance on credit cards should always be kept as low as possible. The further down from the limit the balance is the better your credit score. It goes without saying that payments should always be made on time. Just one late payment can bring your score down a couple notches. If you can not get a regular credit card because of your score you can apply for a secured card. This card works off a balance that you have deposited into an account. You cannot spend more than you have in the account. Make payments on time and it will help to improve your score over time. There can be steep fees with these types of cards though so please read the fine print.
Sources:
http://money.msn.com/credit-rating/9-fast-fixes-for-your-credit-scores-weston.aspx
http://www.myfico.com/crediteducation/improveyourscore.aspx
Sources:
http://money.msn.com/credit-rating/9-fast-fixes-for-your-credit-scores-weston.aspx
http://www.myfico.com/crediteducation/improveyourscore.aspx
images:
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$Report Abuse
