topic Re: Raising score with CC in Credit Cards

Raising score with CC

Anonymous — Tue, 10 Feb 2009 20:31:35 GMT

My husband and I are trying to raise our credit score, so we applies for a new CC. We ended up with First Premier with a CL of only 250.00, and it came with a balance of 199.00 already on it. If I paid the whole balance off right away, would that raise my score? And does anyone know when they report to the credit bureaus?

Re: Raising score with CC

oracles — Tue, 10 Feb 2009 21:27:20 GMT

Hi Carla

What are your scores? What is on your report? Why did you go with First premier?

Could you have gone a different route? What are your current baddies on your report?

I ask because First Premier is not a CC many people like. Do you need to have your score raised immediately?

Can you hold off awhile to try some other techniques in raising your score?

If you pay off the card immediately, then it will help your util% with adding this new $250 limit to your report.

However because it is not much, it may not offset the ding you will get due to inq and new accounts showing on your report. What are your other CC's? What are their balances and limits?

Give us some more info so we can help you

Re: Raising score with CC

Anonymous — Tue, 10 Feb 2009 21:34:28 GMT

Hi Carla, like oracles said, theres no miracle way to just get quick score jumps although that would be good. Is the first premier 0% interest? If not you should pay it down to say 5 dollars that your not just giving your money away because its going to take say 1 or 2 cycles to balance out the inquiry versus the slight decrease due to low initial CL in your utilization rate of your combined credit cards. if it is 0% then chop away at it with payments and wait for the scores to do their slow rising things. Hope this helps

Re: Raising score with CC

Anonymous — Wed, 11 Feb 2009 13:01:48 GMT

My score are 620, 585, and 564, that is why I couldn't get a better card. All of my baddies are medical bills and 2 30 day lates from May of this past year. I don't have any other CC's. Do the CC companies do an inquiry on authorized users?

Re: Raising score with CC

oracles — Wed, 11 Feb 2009 18:39:43 GMT

@Anonymous wrote:
My score are 620, 585, and 564, that is why I couldn't get a better card. All of my baddies are medical bills and 2 30 day lates from May of this past year. I don't have any other CC's. Do the CC companies do an inquiry on authorized users?

Hi Carla

They do not do inqs on AU's. Also, if the medical baddies are paid you should definitely look into the rebuilding credit forum and ask how to get them off your report.

Read this thread The HIPAA Letter Process & Medical Collections (w/ HappyDays)

Also try to Goodwill those lates off your credit report.

Hope this help and keep us updated