8 Thoughts on the best way you can raise your credit score even when you pay all your bills on time?
  1. Reply
    August 26, 2011 at 7:14 am

    don’t pay the full balance every month so you can establish that you pay on time and you have a history of credit. Get a car loan or buy a home.

  2. Reply
    August 26, 2011 at 7:58 am

    Have 2 or 3 credit cards. More than this loses you points.
    Make some purchases and pay them off, building a history of payment.
    Keep your total of end of month balances at 1-9% of the credit limit. It’s good to pay off every month. The reporting agencies don’t know if you’re carrying a balance. What they list is the amount billed on your most recent statement. Call your issuer and ask for a line increase rather than get more cards.
    Wait. As time goes by, your history will lengthen. Long histories are good.

  3. Reply
    August 26, 2011 at 8:01 am

    The best way to raise your score is to spend a little and pay if off. Spend a little pay it off. It shows that you know how to use credit wisely. Oh, and always pay more than the minimum amount due, paying only the minimum shows that you can barely make ends meet.

  4. Reply
    August 26, 2011 at 8:56 am

    Credit score is based on both revolving and installment credit. Revolving credit is credit cards, lines of credit etc. but installment credit is like a car loan, home loan or student loan. If you don’t have installment credit, apply for a small personal loan of about $ 3000 to say “pay for furniature” then just use the $ 3000 to pay the balance back in about 3-6 months. You will pay a little interest but it is like buying the credit.

    You may just have to wait, sometimes the only way to raise your score anymore is to wait, especially if you have a young credit history (less than 7 years).

  5. Reply
    August 26, 2011 at 9:55 am

    Pay all your credit cards in full. Don’t carry any balances. Carrying balances of more than 30% of your available limit hurts your score. Paying all balances off will improve your score.

    The only other thing that will raise your score is time.

  6. Reply
    August 26, 2011 at 10:35 am

    Some of what everyone has said is true.

    For the best credit score and profile people need 3 credit card accounts (revolving) with balances below 30% of their limits and 2 cars, boats, homes, furniture or personal accounts (installment) all with good long pay history’s.

    You can have as many credit cards as you can handle. Bob is simply wrong on this point.

    Call your credit card companies and ask them to raise your limits. This will lower your debt to credit ratio and that will help your score.

  7. Reply
    August 26, 2011 at 10:49 am

    The only way to build credit is to borrow money and make payments on time. The only way to keep a high credit score is to keep borrowing and keep making payments on time.
    All a high score is good for is borrowing more money and staying in debt.

    If you pay as you go.
    If you live on less money than you make.
    You will not have to obsess with the I love debt score.
    You will have money.

    Stay away from new cars. They lose value and you lose money as soon as you drive off the lot. They keep losing value.

    Save up for a good used cash car. it will get better gas mileage if it is not dragging a payment book behind it.

    With no car payment you can save up an emergency fund. That way you don’t have to borrow money in the event of an emergency.

    The only time you might have to borrow money is for a home. You can do that without a fico score. It’s called manual underwriting. It’s not a sub prime loan. It’s the way home loans were givin’ before all the fico score worship. You can get the lowest interest rates available.

    Of course the bankers and their loyal followers are gonna tell you to borrow, borrow, borrow.

    Debt free is the way to be!

  8. Reply
    August 26, 2011 at 11:34 am

    Your payment history is 35% of your credit score. The amount of debt you have compared to your credit limit makes up 30% of your score…so keep the balances as low as possible. Your length of credit history makes up 15% of your score, inquiries into your credit report make up 10%.

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