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credit score of 578

Member

credit score of 578

i am a22 yo student my credit score is currently 578 and I think it is because I have 4 credit lines and they are all at or almost to the limit and i have had several late payments and i also have a deferred student loan and I was going to try and buy a car during the summer of next year but I wanted to know how should I go about paying off these cards should I pay them off all at once or should i do it gradually and does anyone have any pointers on how to raise my credit score because I want to raise it to at least 670 by sept 2008.
Message 1 of 3
2 REPLIES
Frequent Contributor

Re: credit score of 578

Do you have the money to pay off all of your cards right away?  If you do have the money laying around, I would recommend paying it down sooner rather than later.  You'll get a score jump sooner, and save the interest payments.
 
When did your late payments happen?  Are they for the 4 accounts you currently have open, or are they for closed accounts?  I would send a Goodwill letter (do a search for GW) to the lenders to see if they will delete the late payments from your record.  If they were a while ago and you've been current ever since, then there's a better chance of it working.
Message 2 of 3
Member

Re: credit score of 578

I have had at least one late payment of 30 days on all of my credit cards and on one card I had late payment of greater than 90 days and that was at the beginning of this year and the rest of them happened last year
Message 3 of 3