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I was up to my neck in debt when I got out of college. I began working with a credit councelling company and just this month paid off my last delinquent credit card! Im thrilled, but now I need advice on how to improve my score. According to my equifax credit report it is “Fair.” I still have student loans and I have 1 major credit card and one dept store card currently open. I set the limits very low ($ 300) and have been paying them off immediately after using them. Any advice on how 2 raise my score would be much appreciated!

8 Thoughts on Help repairing credit score.?
  1. Reply
    September 3, 2011 at 4:29 am

    there are some credit cards designed to rebuilt your credit….

  2. Reply
    Kevin C
    September 3, 2011 at 5:08 am

    credit is for losers. In the words of randy moss, “straight cash, homey”

  3. Reply
    September 3, 2011 at 5:55 am

    When you go to make a major purchase like a house… this is what the banks look for.

    1. No more than 5 “trade lines” per person/couple.
    (this means, house, car, credit payments or student loans)

    2. Your credit should be under 2/3 of what your limit is.

    3. No late payments EVER.

    4. Using your credit wisely… pay off your credit card every few months, but also let it ride every so often and always pay more than the min. amount due!

    Once your credit rating is over 775, all your options become open. Remember… no credit is as bad as bad credit. Paying off everything, as backwards as it seems, will HURT your credit, not help.

    Another thing working against you is going to CCC. That will show up as a negitive on your record for some time… it is looked upon worse than Bankruptsy.

  4. Reply
    September 3, 2011 at 6:02 am

    It’s good you’re currently up to date. It will take some time but as you continue to make on time monthly payments your score will improve. I also suggest if you feel responsible enough to maintain low balances calling those 2 credit card companies and see if they will raise your limit. Don’t spend any extra on your cards than now, but if you have higher limits it will appear on your credit report that you have a lower debt ratio since most bureaus want the amount on cards less than 30% of the max. It may take some time but i think after 1 yr of payments you’ll see a large difference.

  5. Reply
    September 3, 2011 at 6:30 am

    Congratulation on your accomplishment. To rebuild your credit, it is not so hard but be patient. You don’t have to pay off every bill you received (it is nice if you are able too)
    1. Only use 20% of your credit limit.
    2. Never pay late.
    3. Do not apply for any thing that require your credit checks (the more inquiries you have on your credit the lower your credit score goes)
    4. Do not close any credit account you currently have (if you do not have the need to use them, don’t. But don’t close them out either. You may use them once in a while to have the account active).
    Washington Mutual credit card give free access to your credit score with their online service so if you have the account with them, you don’t have to pay to see your score.
    Reports from 3 major credit check companies is free annually by law, so if you get one free from each company every 4 months, you’d be cover for the whole year. Ex: Jan, you pull one report from Equifax, April from TransUnion, and August from Experian.
    Hope this help. Good luck

  6. Reply
    $m¤¤v¥ £¤¢¤
    September 3, 2011 at 7:24 am

    Big ups to you getting yourself together to manage your debt. The main thing is that you stay as far out of debt as you can, yet you want to build credit. I’ll tell you now that it’s hard to find a balance between the two. Based on what you’ve said in your questions, this is your current situation

    1. The student loans are building credit unless they’re private loans. Just make sure that they’re either in forebearance, or deferrment, or you’re paying on time.

    2. The 1 major and the department store credit card are helping build credit as well, but having low limits don’t help your score. 30% of your score is calculated on how much credit you have available to use versus how much you’re actually using. Since you have student loan debt, you need more available credit to offset that debt. That does NOT mean that you should use it. If I were you I would make SMALL purchases ($ 20/max) and pay in full every month on time, just to show activity on the account. If you have to keep a balance, it should be no more than 25-30%. At least every 6 months to a year, I would request line increases, if you haven’t gotten any automatically already.

    Keep in mind that it’s going to take some time, at least 2 years of on time payments to really see a major difference in your score. As time goes on, the bad accounts you had will stop reporting and your score will start rising even higher.

    Keep up the good work, good luck, and

    thanks for reading

  7. Reply
    Cherry Joe
    September 3, 2011 at 7:59 am

    I have some articles on credit score: Coping With A Credit Crisis How Your Score Is Calculated What Is a Good Score? How Your Credit Score affects You . If you would like to get extra info for reference, you can take a look at

  8. Reply
    September 3, 2011 at 8:21 am

    I used “Credit Solution” to settle my loans .They managed to reduce my loans up to 58%.It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:

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