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03-21-2008, 01:54 AM
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| How can I fix up my credit rating?
I was told that I need to raise up my fica score so I can get a car loan.
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03-21-2008, 02:00 AM
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If you have unpaid debt, pay that off one at a time you don't want wake up all of those beasts at one time. If you have open accounts close them all. Try to save money for a car instead of using credit. 5 to 7 years paying something that goes down in value, does it make sense well in the US the call it cars.
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03-21-2008, 02:01 AM
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I will give it to you easy and simple. Work hard and have a good income is the way to increase credit rating. Quoted by my business teacher and now that i think about it just work hard pay your credit card all of it and you should be good to go.
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03-21-2008, 02:04 AM
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Pay bills on time every time get a new credit card, and make payments. Paying it off every month will not show your ability to pay over time. Get a copy of your credit report and make sure it is accurate. Dispute any incorrect information. It will not happen overnight. You may need to go to a buy here pay here car lot to get a car. Raising your score takes time to do. |
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03-21-2008, 02:10 AM
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One great way to repair or build credit fast is to get a secured VISA or MasterCard. A secured credit card is one in which you open up a savings account with the card issuing bank. This savings account is used as a security deposit for your credit card. Your credit limit is based on the amount that you deposit into the savings account. Once you have established a good record of payments on the credit card, the savings account funds are returned to you. Only use this secured credit card for gas or a few small purchases each month. When you get your bill, pay it immediately but overpay it by about $10 - $15. That way you always have a negative balance. The FICO system accelerates your credit rating quickly by doing this. Just make sure that you NEVER are late on making that payment. This method worked very well for me when I had very bad credit. After receiving my secured credit card, it took about 8 months before I was receiving pre-approved non secured VISA and MasterCard offers from large banks. More info on this topic here...... http://fixingyourcredit.blogspot.com There are also some tricks you can do to get approved for a loan, and get fairly decent interest rates. You can find info about that here.... http://lowertheinterest.blogspot.com _______________ |
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