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How do you raise your credit score without hurting it?

I want to raise my credit score.. Right now, it's at 604 or 610.. Some number around there.. Besides just paying off all I can, Should I add more to every monthly payment? What else can I do to make my credit score go up?

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Anonymous

Asked by Anonymous at 1:37 PM on May. 25, 2010 in Money & Work

Answers (7)
  • Why do you want a credit score? Its really a debt score, revolving debt score. Dont beleive? get rid of your debt, try to apply for credit no one will want to issue credit to you.
    Anonymous

    Answer by Anonymous at 1:40 PM on May. 25, 2010

  • add more to your payments..never pay just the mini. balance.. and cut all you credit cards but one for emergency or groceries and pay it out right everytime you use it.. i also got a prepaid card for the gas pump and such and it helped raise mine 50 points
    swaney06

    Answer by swaney06 at 2:10 PM on May. 25, 2010

  • If you close your credit card accounts it may lower your credit score. Don't close them, but don't use them either. Pay them off and then only use each like one time every 6 months on something you can afford to pay off immediately. The more available credit you have, the higher your credit score generally.
    missanc

    Answer by missanc at 3:37 PM on May. 25, 2010

  • I agree with missanc- don't close your accounts. You may want to use your credit cards more frequently because as of late the credit cards that we have open but don't use very often the companies have been closing due to lack of use. Always keep your revolving debt below 30% of the limits and it should keep or increase your scores. So if you have a credit card with a $1000 limit pay it down to $300 or below and then move on to the next. Don't spread out the extra amongst them all because it will take longer to increase, do one at a time.
    Kari126

    Answer by Kari126 at 6:29 PM on May. 25, 2010

  • . Your payment history – about 35% of a FICO score
    Have you paid your credit accounts on time? Late payments, bankruptcies, and other negative items can hurt your credit score. But a solid record of on-time payments helps your score.
    2. How much you owe – about 30% of a FICO score
    FICO scores look at the amounts you owe on all your accounts, the number of accounts with balances, and how much of your available credit you are using. The more you owe compared to your credit limit, the lower your score will be.
    3. Length of your credit history – about 15% of a FICO score
    A longer credit history will increase your score. However, you can get a high score with a short credit history if the rest of your credit report shows responsible credit management.
    Anonymous

    Answer by Anonymous at 10:21 PM on May. 25, 2010

  • New credit – about 10% of a FICO score
    If you have recently applied for or opened new credit accounts, your credit score will weigh this fact against the rest of your credit history. FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. If you need a loan, do your rate shopping within a focused period of time, such as 30 days, to avoid lowering your FICO score.
    5.

    Other factors – about 10% of a FICO score
    Several minor factors also can influence your score. For example, having a mix of credit types on your credit report – credit cards, installment loans such as a mortgage or auto loan, and personal lines of credit – is normal for people with longer credit histories and can add slightly to their scores.
    Anonymous

    Answer by Anonymous at 10:21 PM on May. 25, 2010

  • Taken from http://www.pueblo.gsa.gov/cic_text/money/creditscores/your.htm.

    If you want to raise your score, borrow more money- cars, credit cards, mortgages, personal loans etc. And pay them on time for years and years.

    Why would you want to raise your score? So that later you can borrow more money and pay it back with interest. But of course it will be a lower interest rate than you would be borrowing at if you had a lower score. But then you've paid for that privileged.

    Try cash- i t works just the same only you don't have payments. Check out DaveRamsey.com
    Anonymous

    Answer by Anonymous at 10:24 PM on May. 25, 2010

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