Last year I paid off all of my debt but my score is still very low, What can I do to increase it?

Question

Last year I paid off all of my debt but my score is still very low, What can I do to increase it?

Answer 1

Hi,

I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. I came across this company on NBC News Special Edition.Check it out here:

http://memurl.com/furetu

Answer 2

Read this article, the site lists several tips on improving your credit score, http://www.monitorbankrates.com/how-to-b...

Answer 3

do what poster one  said but do not cancel the card -- each month buy say 30 dollars worth of gas and when the bill comes paid in full and aheard of schedule!!!

Answer 4

1)   review  the  reports  to  make  sure  there  are  no  other  errors  or  accounts  from  ID  theft .

2)  apply  for  a  credit  card  but  never  charge  more  than you  can  pay  off  when  the  bill  comes .

Part  of  your  FICO  score  is  the  debt  to  available  credit   ratio .  .  .

Desirable  is   low  debt  but  higher  available  credit .

Like  you  have  $10,000   in  limits  but  less  than  $100  in  debt .

3)   closing  cards   Lowers  your  available  credit  so  it  makes  the  ratio bad  and  actually  Lowers  your  FICO .

There  is  lots  more  but  that  is  sort  of  a  starting  point .

good  luck

>

Answer 5

If your debts were ever late, that would make the difference, or credit was denied to you . Even if you paid all your debts off it could be because of your credit history.Try writing to TRW and asked them the reason.

Answer 6

get credit cards.Buy something little and pay it and then cancel it.keep on doing that and it should do good.That is what my math teacher told me.

Answer 7

Just wanted to say congratulations!  Paying off your debt is a huge accomplishment!!!  You should be totally proud!

Use your credit cards instead of debit cards.  But always, always, always pay them off every single month in full.  Also, be absolutely meticulous about paying your car loan (and if you have one, your mortgage) on time.

Answer 8

you need to have three active credit lines at all times with a SUPER payment history on all of them (no 30 day lates).  contrary to popular belief it is NOT good for your credit rating to be debt free.  no credit lines are = to bad credit!!!   i would suggest getting yourself some small lines of credit on credit cards and making the payments on time.  you need to have consistent credit lines for a minimum of one year before your credit will be effected!  best of luck

Answer 9

You're not going to like the answer because it's a paradox. You need to use your credit cards, but, always pay them off,  that will increase your Beacon Score. It has to do with how much open credit you have, how you've used that credit, and how much you have available. I know it sounds  crazy, but, that is what your score is based upon. I'm not saying you can't carry a balance--you can, but, it makes better financial sense not to because of the high interest. Good luck!