Comments on: How Can I Improve My Credit Score? http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/ Money Management, Small Business, Career Fri, 20 Nov 2009 20:44:55 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Patrick http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-9304 Patrick Sun, 22 Jun 2008 02:59:40 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-9304 Lawanda, Your credit score will be positively affected by making consistent on time payments on your car bill and utilities. It will just take time before it makes a noticeable difference. There are also secured credit cards, which allow you to make a deposit with a bank for the amount of your credit limit. Then you can use the card as you normally would and make payments against your charges. The bank holds your deposit as insurance against nonpayment. This will help you prove your track record. If you choose to go with a secured credit card, just be aware of excessive fees and additional charges which are common. Unless you need a credit card, then continuing to make your current payments on time may be enough. Lawanda,

Your credit score will be positively affected by making consistent on time payments on your car bill and utilities. It will just take time before it makes a noticeable difference. There are also secured credit cards, which allow you to make a deposit with a bank for the amount of your credit limit. Then you can use the card as you normally would and make payments against your charges. The bank holds your deposit as insurance against nonpayment. This will help you prove your track record.

If you choose to go with a secured credit card, just be aware of excessive fees and additional charges which are common. Unless you need a credit card, then continuing to make your current payments on time may be enough.

]]> By: Lawanda http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-9249 Lawanda Wed, 18 Jun 2008 02:47:23 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-9249 I filed bankruptcy in 2005, shortly after I returned to school to finish my degree. Since then I graduated and got a very good job. But while in school I got behind on my bills after the bankruptcy. I recently paid the bills off including the credit cards and closed the accounts. Now I cant open any line of credit. I ran my credit and found that my score was below 500. How can I rebuild my credit when the only open line of credit I have is my car, which is being paid on time and utility bills. I filed bankruptcy in 2005, shortly after I returned to school to finish my degree. Since then I graduated and got a very good job. But while in school I got behind on my bills after the bankruptcy. I recently paid the bills off including the credit cards and closed the accounts. Now I cant open any line of credit. I ran my credit and found that my score was below 500. How can I rebuild my credit when the only open line of credit I have is my car, which is being paid on time and utility bills.

]]> By: Emily @ Taking Charge http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-9001 Emily @ Taking Charge Sat, 31 May 2008 00:55:27 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-9001 Awesome post -- full of great info. For a long time I thought I knew everything that contributed to your credit score, but the other day I read a really interesting post on WalletPop which talked about little-known things that contribute to your credit score. Two of them were library fines and parking tickets! Who knew. Awesome post — full of great info. For a long time I thought I knew everything that contributed to your credit score, but the other day I read a really interesting post on WalletPop which talked about little-known things that contribute to your credit score. Two of them were library fines and parking tickets! Who knew.

]]> By: Jeff Clair http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-8948 Jeff Clair Thu, 29 May 2008 17:53:58 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-8948 Patrick, you have shared nice tips regarding improving credit score. Your advice is well worth. I fully agree with you that paying off credit card bills on time helps a lot in boosting our credit. Jeff Clair Patrick, you have shared nice tips regarding improving credit score.

Your advice is well worth. I fully agree with you that paying off credit card bills on time helps a lot in boosting our credit.

Jeff Clair

]]> By: David Carter http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-8946 David Carter Thu, 29 May 2008 17:25:16 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-8946 Really 30-35% utilization is good? I thought keeping a balance was bad. Is it not best to keep your balance at 0? Really 30-35% utilization is good? I thought keeping a balance was bad. Is it not best to keep your balance at 0?

]]> By: Patrick http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-8947 Patrick Thu, 29 May 2008 16:38:34 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-8947 David, Lower utilization rates are usually better, but ideally you want to keep credit utilization under 30-35%. Anything higher than that can raise warning flags to lenders. This also makes a great intermediate goal for someone looking to improve their score. David,

Lower utilization rates are usually better, but ideally you want to keep credit utilization under 30-35%. Anything higher than that can raise warning flags to lenders.

This also makes a great intermediate goal for someone looking to improve their score.

]]> By: MelStar http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/comment-page-1/#comment-8941 MelStar Thu, 29 May 2008 15:57:01 +0000 http://cashmoneylife.com/2008/05/29/how-can-i-improve-my-credit-score/#comment-8941 Great advice!!! Your suggestions will definitely help him with his credit score. All he has to do is stay consistent especially with paying those debts on time. Once Again excellent advice. Great advice!!! Your suggestions will definitely help him with his credit score. All he has to do is stay consistent especially with paying those debts on time. Once Again excellent advice.

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