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onthego wrote:What is the best route to take concerning building my credit back up? I'm about to pay off all my credit cards soon, so should I pay them all off or keep one open and pay on it, on time of course for a year then pay it off to bring my credit score back up?Onthego
onthego wrote:
What is the best route to take concerning building my credit back up? I'm about to pay off all my credit cards soon, so should I pay them all off or keep one open and pay on it, on time of course for a year then pay it off to bring my credit score back up?Onthego
onthego wrote:Thanks for the responses. This is a really nice way of getting help.I'm new and I don't know all the terms just yet, but I'm learning. I had a hard time paying my bills on time for a while and now that I can get caught back up, I just wanted to pay my cc's off and pay my utilities bills and mortgage on time to start building my credit back up.Do I really need the cc's having a balance when I have other bills like mortgage, phone, water, gas & electric and cable etc?onthego
Finally a utility that reports positive and not just negative account info to the CRAs.
KevinB wrote:
onthego
to have a credit score OR a good credit record, YOU must have credit & it must be reported!Utilities and cable do not report unless you do not pay & are turned over for collections.
Happy:
Thats not necessarily true at least in my neck of the woods (Chicago). Peoples Gas reports every month just like a credit line, so you need to be real careful when you make generalizations like that.
Kevin
Also all creditors don't always report to all agencies. They are under no obligation to report.
KevinB wrote:onthegoto have a credit score OR a good credit record, YOU must have credit & it must be reported!Utilities and cable do not report unless you do not pay & are turned over for collections.
Happy:
Thats not necessarily true at least in my neck of the woods (Chicago). Peoples Gas reports every month just like a credit line, so you need to be real careful when you make generalizations like that.
Kevin