Credit Score Help!!!!!!!!!!!

[Anonymous]

Hiya, I'm new to this forum, so please excuse me if I didn't post this question in the right section, and if I did post in the wrong place, could someone direct me to the right place. My questions are: 1. What is the best way to to significantly increase your credit scores with all three bureaus? 2. What is the best debit percentage ratio to make your credit score percentage to significantly increase? Someone told me 33%, is this true? 3. I have a lot of credit card and line of credit accounts (both personal & business), how can I use these to effectively increase my credit scores to reach my goal of getting a 800 credit score? Here's a little background of what happened, and what I'm trying to do: I was able to get my credit score up to 745 but my debit ratio was so high that the next month my score dropped to 610, I paid off all that debit and followed a friends advise to make all debit to 33%, I am now waiting to see what happens, but in the meantime, I thought I would seek some more advise. My main goal is to reach a 800 credit score, can anyone help?

[nathan]

Check out  credit 101. You will find answers to all your questions.

[Anonymous]

It is a generally accepted axiom here is that your utilization( debt to credit limit ratio ) should always remain in the 1%-9% range.
I shoot for middle ground at 5%, and it seems to be working.

I also HAD in early September a utilization of 22% and the analysis said my utilization rate was to high, if that tells you anything. Since doing so, my scores have increased considerably

[Anonymous]

Thanks, that is the best suggestion I've had in a long while! Thanks Amymore suggestions would be greatly appreciated!

[Anonymous]

Most welcome techie. If you come here often, you'll find a wealth of info from very knowledgable people. I'd suggest you pull your credit reports, at least once every 2 months. Read carefully what's contained in the cr's. find out if you have any "baddies"(late pays, collections, tax liens, etc), and start taking steps to remove the baddies(yes, it's possible)

And for goodness sakes, make timely payments EVERY time, EVERY month, and keep the utilization down to that 1%-9% range. Good luck to you

[Anonymous]

One more question, should I apply this suggestion to my credit cards that I have with one of my businesses that I used my ssn for? And should I have to worry about my other business that I used with my tax id (but they asked for my ssn as a aurthorized user)?

[Anonymous]

techie....that my friend, gets into other tax implications, all of which I'm not qualified to answer. I suggest you ask your CPA or tax advisor, or even your attorney in such matters. I am neither...just a visitor to this forum. And cc's used for business purposes have MUCH different tax impacts and implications. Sorry, but better ask the professionals on that one.

[Anonymous]

Thanks, will do

[Anonymous]

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uhtechie wrote:
Hiya, I'm new to this forum, so please excuse me if I didn't post this question in the right section, and if I did post in the wrong place, could someone direct me to the right place. My questions are: 1. What is the best way to to significantly increase your credit scores with all three bureaus? 2. What is the best debit percentage ratio to make your credit score percentage to significantly increase? Someone told me 33%, is this true? 3. I have a lot of credit card and line of credit accounts (both personal & business), how can I use these to effectively increase my credit scores to reach my goal of getting a 800 credit score? Here's a little background of what happened, and what I'm trying to do: I was able to get my credit score up to 745 but my debit ratio was so high that the next month my score dropped to 610, I paid off all that debit and followed a friends advise to make all debit to 33%, I am now waiting to see what happens, but in the meantime, I thought I would seek some more advise. My main goal is to reach a 800 credit score, can anyone help?

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Busness should always be kept seperate!!!

CC  UTIL carry more weight then any other loan!!  UTIL should be under 10% at all times for  best scores.Then hx  counts also.

Your hx can change with each new loan. hx= length of history

CC UTIL =35% scores

hx =  30%

debt to ratio do not have anything to do with scores!!!! CRA do not know what your income is!(unless you are meaning UTIL)

[Anonymous]

do you think it is wise to use ScoreWatch: http://www.myfico.com/Products/ScoreWatch/Description.aspx If not, do you have any suggestions where I should pull my credit and watch it?