3 Thoughts on ive got all bad debit and back bills paid, what can i now do to improve my credit and credit score?
  1. Reply
    August 3, 2011 at 12:59 am

    It is a waiting game.

    You can try a secured credit card and just be sure to keep it paid. Do that for a year and then cancel it.

  2. Reply
    August 3, 2011 at 1:14 am

    Whatever cards you get, keep until you have very small balances in comparison to all of your credit available. That is the percentage that card companies look for.

    There are no quick fixes. It took me 5 years to get up to over 700 after a bk.

  3. Reply
    August 3, 2011 at 1:46 am

    You better forget about old stuff and concentrate on your recent active trade lines: credit or charge(store) cards, auto, student or personal loans, etc. 3 active trade lines, including at least one revolving (credit card) should be enough. Pay on time (does not matter how much just for credit score purposes). Start shopping for a mortgage advance after 6 month. If your credit is not on the level it needs to be, continue shopping after 4 months, because all credit pulls which may hurt your credit will be gone from your report after 3 months. This will help you to accumulate the most points on your score. Also, try to keep the ENDING balances on your credit cards below 40% of credit limits at least month before you will apply for new credit. Keep in mind your trade lines must be active 3 months to start benefiting you.
    If you have old credit cards which you haven’t close yet, it is much better to continue using them responsibly. If not, go to http://securecreditcard.com/ and look for secure cards. I beleive Orchard Bank’s secure card is the easiest and cheapest to obtain and then after 6 months you’ll be qualified for unsecure card with at least the same provider (Orchard Bank) but, probably, with another merchants too. It is important to remember that one new negative item in your credit report will overide everythihg you were working for so hard.
    Good luck,

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