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What to do to raise my score 100 points at least

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Valued Member

Re: What to do to raise my score 100 points at least

Morpho also when you say keep one of the three cc with a balance what do u mean? Don't pay it on the due date?
Message 11 of 17
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Established Contributor

Re: What to do to raise my score 100 points at least

In order to have only 1 card report you will need to pay the balance off every card except one. Do this at least a few days before before the statement date, or simply don't charge to that account. For the remaining card, just let a small balance report (<8% of the credit line). It only needs to report, as soon as you have a statement you should pay the full amount due. Do the same every month. With responsible use and in time your scores will increase regardless.

Absolutely without fail always pay at least the minimum amount due by the due date! Seven years bad luck if you don't.
Message 12 of 17
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Community Leader
Senior Contributor

Re: What to do to raise my score 100 points at least

The balance left on the card will come from new charges. Pay your statement balance by the due date or sooner. When statement time approaches, if your new charges for the month are higher than what you'd like to see reported, make a payment to bring your balance down least $5 but not much more. When the statement cuts, pay the $5. Charge as usual, and bring the balance down again when it's time for another statement.

 

The other card should report a balance of zero. To do that, pay the balance to zero before the statement cuts.

Message 13 of 17
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Valued Contributor

Re: What to do to raise my score 100 points at least

The amount of the credit builder loan does not matter. Mine is $500.

Message 14 of 17
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Valued Member

Re: What to do to raise my score 100 points at least

Ok great! If I want to go with the smallest amt do you have recommendations of who to do the loan with that I can get max fico points with from timely payment?
Message 15 of 17
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Senior Contributor

Re: What to do to raise my score 100 points at least

I would check with some local Credit unions, or if you have a Military affiliation, you could try NFCU.

I'd definitely get that CO paid, and try to get PFD. Otherwise it's going to be there for a while and contribute to holding your score down, for a while.

 

You might want to add a second CC, like Discover Secured. Trying to increase your score with just one card is going to be difficult.

I would also suggest checking out the "Rebuilding Your Credit" section for additional tips/help etc.

 

 

 






Message 16 of 17
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Valued Member

Re: What to do to raise my score 100 points at least

@Janus I was able to open an account with navy federal and I can do a 500 dollar loan for one or two years I think. So after I open it how much of it should I pay back for the optimal amount balance to report?
Message 17 of 17
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