My credit score is very low (around 500). I have a bankruptcy that will be 5 years old this year. Since then I have had about 5 accounts charged off. (Went through a really rough time…dont judge!) That was about 2 years ago.
I have one installment account that I opened and just recently paid off. That account should be in good standing. But that is all that I have going on with my credit report. I don’t own a credit card that I make payments on. I just use a prepaid visa as a credit card if I need one.
What would be the best way to make my credit report better?
Will paying off those charge off’s even help at this point?
Does having an open line of credit in good standing a good thing for your credit score?
How long will that bankruptcy show on my credit report and how will that affect my credit score once its gone?
Thanks for any help!!