I have a 560 Credit Score. How bad is it and what do i need to do to get a higher score?

Question

I have a 560 Credit Score. How bad is it and what do i need to do to get a higher score?

Answer 1

560 is way too low...

You can use credit repair agency to fix your credit - for example this one - http://creditreport.fateback.com - They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.

After credit repair you can get the loan with minimal interest rate.

Answer 2

How many credit agencies did you check with? 560 is bad but i've noticed that the score can slightly fluctuate with different agencies. Not sure why but i've been accepted and rejected for a card or product on the same day by two different agencies. You should try

http://is.gd/T7f

and see what your score is

Answer 3

Pull your credit score and see what is bad on there and contact the companies and pay the bad debt off if there is none then pay off some of your bills or close open accountsd that have nothing on them

Answer 4

It's not good but not the worst I've seen.

Best thing to do is to would be to set up direct debit payments for the minimum amount on all your cards so you don't miss a payment. (missed payments have a big effect on credit score).

Also try to pay off more than the minimum each month and if you have a number of cards when you have cleared one or two of the cards - cancel them. (the more sources of credit you have the lower your credit score)

Don't apply for credit too often - each credit search effects your score.

Check your credit file and make sure there is nothing odd on it. If there is there are steps you can take to sort this out.

These should bring your score up over time.

Answer 5

Hmmm. you would have alot of trouble buying a home but you might be able to get a credit card with a very low ceiling... like $500 to $1000 and your interest rate maybe above 21%... it's that bad

Pay mortgage 1st, utilities 2nd, then pay the small debts you have off first; focus on getting them paid. You need to reduce your debtors. If you can reduce the number of credit  cards in your possession that would be great.  Leave the huge issues you have until last because if you have negative cash flow you won't ever get out of debt.. Credit cards are unsecured debt, always tackle them last and try to pay off the ones you can before tackling the ones you can't.

Try to find a bank where you can pay your bills online and set up alerts when they are due. Many offer this as a free service.

I tell you this as someone that has had negative cash flow and the only thing that worked for me was this.

Answer 6

It's low. To bring up your score, make sure you are paying your bills on time. If you can afford to pay a debt off do so.

Once you build a strong history of on time payments, contact your credit cards and such and ask them to review your credit history.

Answer 7

That is not good. You should try to pay down your debt as much as possible. Don't only make the minimum payments on credit cards and loans if you can. Make sure you always pay on time and try to avoid late fees.

Answer 8

not  good  --pay all revolving to 1/3 of max and any collections off and also opt out of credit card offers 888-567-8688 and your scores will go up