keneyone wrote:Paying all your debts wont help you as much to increase your score. Payment history and good management of your credit cards will have major impact when it comes to establishing your credit scores. You guys have to wait for like 6 months or a year before having better score to buy house. I as an example. For instant, i was in debts for 5 thousand dollars, which also has three 90 late days, and four 120 late days as well. I managed to paid off all my debts in 12/05. And when i was trying to buy a car in May 2006, my Equifx credit score was 585 not even possible to get a desent % rate...Some people told me that it will take me like six to seven years to get to 700ss, but what i did was maintaining my credit, and paying all my bills in time. As of yesterday, i received myTU credit score...my score is now 725 just after one year....and i cant wait to get a car. So, all i can say is for you and your hubby to have patience for upto a year. I am sure by then your score will improve more. GOOD LUCK. checkout this site....it will help u a lot to understand http://www.fool.com/ccc/check/check02.htm
Message Edited by keneyone on 04-24-2007 09:52 PM
keneyone wrote:Whats not true?...maybe you dont understand what i said. what i am trying to say is that paying all your debts off wont help your credit score to rise as much. But proving that you can pay your bills in time will help much more in terms of establishing their scores.