Credit Score, how to raise it from 533 to 620? - Xmastips

Credit Score, how to raise it from 533 to 620?

Home Forums Improve Credit Credit Score, how to raise it from 533 to 620?

This topic contains 3 replies, has 2 voices, and was last updated by  admin 3 years, 1 month ago.

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  • #58668

    admin
    Participant

    Can having a bank account in good standing help raise the credit score? Also can making more than the minimum amount on a credit card raise it as well?

    #254428

    admin
    Keymaster

    Having a regular bank account in good standing does nothing for your credit score, since no CREDIT is extended to you. Also, paying more than the minimum will help, but not 90 points worth of help. It will take about a year or two to raise a score by that much. There is no quick way to raise a credit score…the system is designed to punish people for years when they screw up their credit.

    #254429

    admin
    Keymaster

    having a bank account does nothing for your score unless it is a bad bank account sent to collections Making a larger payment could work if it lowers the balance enough because they use a formula based on amount of credit line and the actual amount you are using

    #254430

    admin
    Keymaster

    1. Pull your 3 major credit bureaus from http://www.annualcreditreport.com. Make sure everything is yours, everything is current and correct including your personal information. Dispute any inaccuracies or anything past the statute of limitations.

    2. Make a list or spreadsheet of everything negatively affecting your score.

    3. If you have open credit card accounts, keeping them below 15% of their top limit will help improve your credit score.

    4. Try to negotiate pay for deletes with any collection agencies. It’s often a long shot but some will be willing to delete if you pay them.

    4. The most important thing is time. There is no instant credit score improver, just time.

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