Credit Score Suggestions?
Hello all!
I am currently working with a credit repair company for 6 months, and my credit score went up from 580 to 624.
Now it dropped back because I opened a new card and had to max it out. I got the approved for Firestone credit for $900. I had my BK discharged in February of last year.
Are those good results for 6 months. I am paying 149 a month for two people.
They have disputed a lot of things from the credit but I am just wondering if those are good results.
Also, for credit monitoring I am using identityiq, would you suggest something else? I am trying to go as cheap as possible so I can pay off that $900 for tires.
Thanks in advance.
Hi eastwestcindy3, check out these links:
If we're lucky, the following users may have something to say: Ollie-Williams EBIT-DA landrybj
Fingers crossed that one of those helps you.
Thank you. I will check this out and learn little bit more. I had a lot of feedback and I am just going to cancel the repair.
I'd say any progress is good progress. I had to dispute an inaccurate item on my credit report once and it took forever but it finally happened, score bumped up quite a bit. Working with a professional credit repair agency seems like a good idea.
Stating the obvious, I'd ratchet down spending any way you can, and if you have credit card(s) with balances and you're only making minimal payment, consider consolidating debt with a loan from your bank.
If you're spending close to your max in credit, but are responsible, you might want to look into getting a guarantor to sign a high limit card for you.
This will significantly lower your % of credit utilized on your credit score.
Roger that, it's like someone is vouching for my credit right?
They are vouching for your ability to pay the card, which affects your credit. Maintaining a low % credit utilized and paying the card each month will undoubtedly make your credit score increase.
Okay, that's what my plan is right now. Canceling the credit repair company and going to pay off the debt and will also try to increase the limit.
How long will it take to see some results do you think? Should I also try to open a new credit card? Or just wait it out and see how it goes?
I was able to get my scores up really high by setting all of my cards to auto pay in full on the due date.
I'd also recommend that if you're consistently maxing out the card (80%+) utilization, you should request a credit limit increase. (so long as you're paying on time)
General rules to follow:
-Pay all bills on time in full. -Keep utilization per card and overall under 30%. (If you only had one card at $900, this would mean keeping it under $270). Under 10% is the best though. Request credit limit increases if your limit is too low. -Open new accounts sparingly, your score will probably take a hit every time you do, and it will decrease your average age of accounts.
And finally, credit karma is actually fairly good for a free service, the scores aren't the same as a bank would use, but they're a good way to check if things are moving up or down.
/delete
Moving affects credit? False. https://www.freecreditscore.com/blog/can-moving-hurt-credit/
Getting arrested affects credit? False. https://pocketsense.com/misdemeanor-affect-credit-score-7750617.html
Job loss affects credit? False. https://www.thebalance.com/how-job-loss-can-affect-your-credit-score-96…
What Does Affect Your Credit Score
"There are five key factors that affect your credit score: - payment history, - level of debt, - the age of credit history, - types of credit accounts, and - inquiries to your credit report.
Your employment status and salary are not factors that directly impact your credit score. In fact, your creditors and the credit bureaus may not even find out you’ve lost your job unless you tell them."
Clearly I was wrong and made a bad post. Sb’d
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