Questions About How To Improve Credit Score 100 Points

Mandy asks…

How can I improve my credit score by 100 points in the next 60 to 90 days?

admin answers:

Reading text to resolve a question or achieve directives does not work with credit repair/improving. Analysis, followed by actions known to improve FICO, along with disputes of negative tradelines, and some ways to add points if feasible to the consumer. Easy to go from 620 to 660. Harder to improve from 720 to 760. Nearly possible to jump from 520 to 560; a score under 600 denotes derogatory items, their removal will get you into the 600's. Manipulation of balances is your likely solution. Statement dates, reporting dates, date of last increase, etc.

John asks…

how does one improve his credit score by 100 points?

due to opening accounts and closing a few it messed with my credit score...i know have 2 open accounts with 1 having a high balance and one with a low....starting this month i finshed paying off 1 account...a 2nd with high balance and putting 15% payment of it per month,,,and the other one paying 20% of it with low balance...were will be at 6 months? or more?
my one account is about 55% in use and is already coming down to to 50%...it was emergency situation and balance trasfers.....like i said i have it control...and paying it off in huge amounts.

admin answers:

The only way to improve your credit score is to first use credit then pay it off quickly. The faster you pay off your accounts the better your score. Late payments can stay on your credit report for years and therefore will lower your credit score. The best way to correct this is through time and establishing yourself as a good credit risk. So... Pay off those credit cards fast!

Paul asks…

How can I improve my credit score?

I have several negative accounts on my credit report. They are all from approximately 4 or 5 years ago. Although, my credit score has raised over 100 points the in the past 3 years, it still needs to be raised approximately another 100. What is the best way to do this? Is there a way of settling the debt owed on my credit report and it helping? I've heard paying off bad reported debt won't do anything to my score. Please help!!

admin answers:

Yes, you can reach out to all the creditors you have accounts that are in delinquency and negotiate with them directly to settle the debts. If you’re interested in debt negotiation, you can either hire a debt negotiation service to represent you to your creditors, or you can contact them on your own. If you want to try a do-it-yourself negotiation, follow this advice:

Be calm, clear, and convincing. Explain your situation in unemotional, professional terms. Remember, they’re not required to negotiate with you, so crying or screaming is not likely to move them to help you.

Don’t give up easily. If your creditor denies your request, explain to them why settling would be beneficial for them. Their priority is their bottom line and you must make it clear that the offer is in their best interest. If your request is still denied, do not agree to anything before you hang up the phone.

Send a debt negotiation letter. The letter should be professional and clearly state your arguments. Send it by certified mail and keep copies of all your correspondence.

Generally speaking when you settle debt and the account is reported with a zero balance it tends to help your credit scores. On the other hand leaving the debt unpaid can continue to hurt your credit scores.

I recommend you read our article, What Are My Debt Resolution Options, to learn more. Please see links below.

I hope this information helps you Find, Save, and Learn.

Best,
Bill
Bills.com

Charles asks…

How do I improve my credit score quickly?

I need to buy a house in December and would like to get my score up at least 100 points

admin answers:

Unfortunately there is not way to repair your credit score quickly, that's why it's imperitive that you keep up with good credit practices...

I would get a department store credit card and buy something every month, and then pay it off right away....that same day even....doesn't have to be anything big....you just need to establish good payment history.

It will take at least a year of this and no other blemishes on your record to effect your credit score.

Helen asks…

How to improve my credit score?

So last year (2009) I was laid off in February, and had just enough in savings to cover my basic expenses (rent, food, insurance) until I started getting unemployment checks in May. So basically, my credit accounts (except for one) when to 60 days past due. I called the CC companies well in advance, explaining the situation, and no one could "help" me until I was at least 30 days over due. At that point (30 days late) called again, but wasn't getting my unemployment check, so had to wait until I was 60 days late. At that point, all my credit accounts offered 0% for six months to 1 year, but the condition was that I had to close my accounts. I agreed, and have paid diligently for the past year, more than was due and early. (My credit went from 710, to 590 almost overnight) I now have a job, and have figured out I can pay my debt off in 1.5 years. But since I have no available balance on my credit cards, my credit score isn't even moving. So, is there a way to get these creditors to reopen my accounts. I don't even care if they just reopen them with the limits that I am at now. My goal is to pay them off, I destroyed all the cards and have little intention of using credit as a crutch ever again. Or do you think I can get a personal loan to consolidate this debt (with a score of 600?)

Why do I care about my score? #1, I also have a side business, that I would like to take full time, but I cannot get a $5000 loan for the technical equipment I need with my credit score. (I've done the numbers, the forecasting, and even have about 30 clients lined up, could pay this off in less than 6 months)
#2 I am looking at purchasing a four plex investment property to gain me $2000/mo cash flow after expenses, but a bank won't even look at me.

Am I stuck in the FICO score abyss for 4-5 years waiting for my credit score to improve, or is there some way I can boost my score 100-130+ in a year? Its not like I was previously irresponsible with my credit, just ran into tough times and was 60 days late, ONCE in a 9 year credit history.

I'm looking for creative ways to improve my score. Waiting around is not an option. Any advice is greatly appreciated.

admin answers:

Credit card companies will not reopen a closed account; they will open new accounts. The only thing you can do is start the application process.

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Questions About How To Improve Credit Score Quickly

Lizzie asks…

How can I improve my credit score quickly?

I have a 479 credit score. It sucks. I can't do anything I want with my life to really improve a lot of things. How can I improve this quickly?
Oh, I am 26 yrs. old....

admin answers:

Sorry, but there is no quick way. First, pay anything that is past due (such as collection accounts) and get yourself current. Then, try to pay MORE than the minimum balance on what you owe. Rather than open new accounts here and there, establish what you have. Creditors will look at your financial relationship somewhere and take into account the length of time you maintained your account as well. Keep it up and your interested rates may lower too. DON'T FALL BEHIND ON PAYMENTS! DON'T JUST PAY THE MINIMUM BALANCE-PAY AS MUCH AS YOU CAN! Instead of splurging on those shoes that you don't need, splurge on a credit card payment! Good luck!

Steven asks…

How do I improve my credit score quickly?

My husband lost his job last year, and because of it we had 6 consecutive late car payments. Our credit score is 580. We want to get it to at least a 620. How do we do that as quickly as possible and how long will it generally take to raise it up 40 points?

P.S. We just paid down the credit card balance below 50%, and have been making car and credit card payments on time now for the last three months.

admin answers:

Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service - credit-report-free.totalh.com

Mary asks…

how do I improve my credit score quickly?

My credit score is far worse than I thought, and is dropping by the minute. I have a lot of debt, and little to no time to pay it off. I HAVE to buy my house in June and basically have to raise my credit score 75 points before then. I don't have the credit for and loans, or credit cards. I plan on getting a pre-paid credit card through my bank in the next week, but it's just not enough. I need a lot of help, and a lot more advice.

admin answers:

A few months is a short period of time... Contact your creditors and try to arrange payments... Most would probably be willing to work with you if you aren't arrogant and just present your case. Which bureau did you get your score through? You'll need your score from all 3 bureaus, but you'd need enough time to correct any errors in your credit report.

Sandy asks…

How To Improve My Credit Score Quickly?

Hi, everyone. I have a few questions (ooooh I'm cheating, lol) that relate to one big question. Basically, I need/want to improve my credit score by 100 points.

How can I do that?
Does it take a while after you've paid a creditor for it to get removed off your credit report? How long?
Where can I get a free credit report?


Anything you can tell me would be greatly appreciated. Thank you.

admin answers:

I am the credit expert LOL. You can get a free credit report anywhere. Experian gives them. Be careful because some websites say they are free but you have to sign up for a year long service. When you pay something it can take a while for it to be reported, however, keep a copy of the canceled check, or the cashed money order. If you are going for a mortgage and they tell you that you owe money to someone, make sure you havea copy of the canceled check to prove you pay it. Once t hings are in collections it can be a while before they report you as paid. If you pay something in full, call them and ask them for a letter stating you paid. Raising your credit by 100 points is going to take quite a while.

George asks…

How can I quickly improve my credit score?

I've made every payment on time for the past two years. However, I've taken out a lot of new credit and have used a lot of it to start a new business, which has lowered my score.

admin answers:

Don't accept any new credit cards and don't close any unused credit cards. Continue to make your payments on time. The less debt you have, the higher your score goes up.

Remember: It takes time for your score to improve. There's no quick fix.

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Questions About How To Improve Credit Score Fast

Donald asks…

how can i improve my credit score fast?

i have a credit score of 548. never had a credit card, im in debt with my school loans of $4000 which im paying back monthly. what can i do to get my credit score higher? what kind of credit cards will i get approved for with score of 548?

admin answers:

First, you can't increase your score quickly. It takes time, since one of the main factors is your credit history - the longer your on-time history, the higher your score, and you can't speed up time. As for raising your score, first, make sure your loans are being reported to the credit bureaus. If not, you can pay a small fee to have them manually updated - however, this is a one shot deal, the credit bureau will only verify and get the payment history the one time, unless you pay again for the account to be updated.

Also, pull all three of your credit reports (http://www.annualcreditreport.com) and make sure they are accurate and truthful. Anything inaccurate should be disputed.

Finally, try to get a card at a local/regional department store - they tend to be easier to get. However, do not try a whole bunch all at once. If you can get a card, use it every couple of months for small items you would normally buy for cash (and remember to pay off the balance when you get the bill). The payment history will help the score (assuming you pay on time).

John asks…

How can I improve my credit score fast???

I checked my credit score about a month ago on freecreditreport.com and my score was 665.
This month I apply for a loan to purchase a home and because I had 2 credit cards almost max out my credit dropped to 590 (that is the score that the loan officer told me I got).
I already fixed this problem ... I paid almost half of the balances on both credit cards.
I would like to pruchase a home as soon as possible. How long should I wait to see my credit score go up???
Do I need to do something else.
Your advise is greatly appreciated.

admin answers:

Hi, I would say there are a lot of things you can do. You are on the right track to paying off your debt but whatever you do, DON'T cancel your cards--part of your credit score looks at you credit limit to debt ratio.

Also one of the things you can do right now to raise your score up to 50 points is fill out the 'opt out' form. The opt out form found at this link: https://www.optoutprescreen.com/?rf=t will make sure that creditors can't pull your credit and send you offers at random without your permission. The credit beauros look at this as responsible.

I think your credit score will start to go up immediately, but don't pull your credit score again until absolutely necessary because everytime someone pulls your credit score it adds negative points to your credit report and your score will go down. I think these points stay on your credit report for 12 months. If you've had a lot of hits to check your credit score in the last year, wait a while and your credit score will go up automatically.

Nancy asks…

How much and how fast will my credit score improve?

Here's the background info:

Came to the US in mid-2001, opened my first credit account shortly thereafter.

Everything was going great, making ontime payments, keeping my balance low, until mid-2004 when I hit a bump on the road, which resulted in several late payments on several accounts, a couple as late as 60, 90 days.

Picked myself up a bit, but have been only able to make minimum payments. Cards are maxed out, which is the reason for my score of 580, I guess.

Have about 4K in credit card debt, which I am planning to pay down completely within the next 3 months.

How much and how fast can I expect my score to increase? When will it reach a respectable level assuming everything goes well from now on?

Thanks in advance.
I'm asking because I want buy a house.
I have no accounts in collection.

All my accounts are open and current, but just very near the credit limit.
I have been making on time but minimum payments for the past several years.

admin answers:

First, do NOT close those accounts after you pay them down. Closing an account can hurt your score, and closing an account can never improve your score. You are correct that max-ing out credit cards hurts your score. This concept, called credit utilization, is worth 30% of your FICO score. Second, if any of those maxed accounts are your oldest open accounts, closing them will damage another 10% of your score, which is age of oldest open accounts. Third, if you close all your open credit cards, you'll hurt another 10% of your score: credit mix. Fourth, how fast can you improve your score? As soon as your payment clears the creditor and the creditor reports the new balance to the CRA. The creditor usually reports monthly. A credit score is a snapshot in time of the latest info available to the CRA. Check your credit report for errors, identity theft, derogatory accounts (other than Ch 7 BK) that are over 7 years old, and make sure the creditors are still reporting your good, on-time accounts. After 2 years, the effect on your credit score of a late payment on your credit report drops considerably. I've read of people having scores in the 700s about two years after discharging a bankruptcy, and you're in much better shape. Did this help?

Jenny asks…

how fast does your credit score improve after paying off credit cards?

I have a good payment history with all my credit lines but I have a lot of revolving credit card debt. I plan on paying them all down to less than 25% balances in the next 3 months. My credit score is now in the low 600's. If you have been in a similar situation how long did it take for you score to come back up to good level (ex. 700+) and any other tricks you used to improve it quickly. thanks

admin answers:

Crazybird,
Be careful of the "advice" you recive on these forums.

One poster recomended you close some of your credit accounts once paid down? (DO NOT DO THIS) that will hurt your score.

Keep all of your cards about 25% credit limit utilization, pay all of them on time, every time, you can expect to see an increase of about 10-15 points a month.
BONUS:
If you know someone that you trust, and that trusts you, IF they have great credit, they can add you as an authorized user on one of their accounts. (they do not need to give you the actual card).
Within a month, all of their positve credit history on their account will show up on yours, and depending on how "old" their account is..you can expect possibly a 100 point boost. I have done this.
Good luck.

Daniel asks…

How fast will my credit score improve once I file bankruptcy?

I'm trying to look at all the options here and wondering if I file bankruptcy when will my score go up or does it ever go up?

admin answers:

Only after your bankruptcy discharges and you start to reestablish your credit will your score start to go up.

As soon as you file your score will take a huge hit, but after it discharges you can rebuild your credit back to better then it ever was in as little as 24-months if you know what your doing.

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