How long does it take to raise a credit score, and how do I do it?

A few months ago my credit score was only around 540. I need to get approved for a house within a few months. Any tips on raising it ASAP? Once I pay off my credit cards do I close them or keep them open? Should I lower my limits so I don%26#039;t have as much avaliable credit? Any sercret tips out there? Thanks!!

How long does it take to raise a credit score, and how do I do it?

EEK! DON%26#039;T close off your accounts. That%26#039;s the worst thing you could do. Don%26#039;t lower your limits. Important components of credit scores are:

-- Your history of on-time payments. OK, so you%26#039;re probably not so good here. But start immediately. No! More! Late! Pays!

-- Your ratio of used credit to available credit. Lowering your limits would hurt this ratio, and so would closing accounts.

You want to demonstrate responsible handling of credit, and giving up credit will hurt.

Get all three of your credit reports, free, by going to www.annualcreditreport.com. Challenge any errors. Hire someone to help you if you must, but be aware that the credit repair industry is full of bad actors who promise more than they can legally deliver.

Plenty of people will promise shortcuts and secrets, but the truth is that you can only get a mortgage at good rates by proving you can handle smaller doses of credit.

Best of luck.

How long does it take to raise a credit score, and how do I do it?

Paying off all your credit cards is a very good start. I would keep one credit card opened and pay it off every month. Just make sure that you don%26#039;t pay any of your payments late or go over your limit on your credit cards. That should increase your score. Good luck.

How long does it take to raise a credit score, and how do I do it?

When credit scores are high that means the person has a lot of available credit and that the balances on those accounts are below half of the total. Like say you have out 50,000 in credit available to you but really you%26#039;ve only used less than 25,000. Also helps if you%26#039;ve never been red tagged, have you ever had late payments? It takes years for that to clear your credit report. Hope that helps.

How long does it take to raise a credit score, and how do I do it?

If I had a credit score of 540 i would rent a apartment until I got my score up to at lest 675-700. You will save sooo much if you wait, don%26#039;t be in a hurry things really do come to those who wait.

540 is just too low rigth now you need over 100 points you need time.

The credit score ranges:

* 760-850 Excelent

* 700-759 Very Good

* 660-699 Good

* 620-659 Marginal

* 580-619 Poor

* 500-579 Very Poor

How long does it take to raise a credit score, and how do I do it?

There is no easy fix to improving your score that much in a matter of months. There used to be a loophole that made the news so the credit reporting agencies closed it. The only thing you can do is pay everything down. If you have any collection items reporting on your credit get those taken care of. Don%26#039;t have a bunch of companies pull your credit. That shows that you are shopping for credit which affects your score and can raise some flags with some creditors. If it is absolutely necessary that you get a house approved in a few months it will definitely be tough especially with lenders tightening their lending guidelines. I recommend you wait a while until your loans are paid off and any collection item(s) has been taken care of. Good luck!

How long does it take to raise a credit score, and how do I do it?

If you are in Florida, check out my 100% financing page.

http://www.atlanticeloan.com/pages/100-p...

My 100% program is very forgiving of credit issues but, I also offer free credit analysis and repair.

I%26#039;ve been helping make homeownership possible for thousands of people since 1984.

Charlie Camp

Atlantic Mortgage

Satellite Beach, FL

(800) 373-3130

How long does it take to raise a credit score, and how do I do it?

To raise credit score

1. Always pay on time or ahead of time.

2. maintain low balances on credit cards

3.To boost your score: Don%26#039;t charge anything for at least 60 days before applying for a loan

4. keep your total potential debt to earnings load low - If you have a card with a $15000 credit line, you may ask them to reduce it to something more realistic, like $5000.

5. You should have a recent history of both installment or term (Car or house loans) and revolving credit.

6.To boost your score: Don%26#039;t close unused accounts when you transfer debt.

7.To boost your score: Consider opening another credit-card account or two, or taking out a car loan or small bank loan.

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http://www.bestcreditrates.net

How long does it take to raise a credit score, and how do I do it?

First step would be to get a copy of your credit report and check for any inaccurate information or bad history and work towards eliminating them.

Bring down the utilization on your credit cards to atleast below 35% (1-9% is ideal).

Do not close credit cards unless you are being charged an annual fee. Why get rid of something that%26#039;s not hurting you. Let it grow with you and increase your credit history. In case you decide to close, the information remains on your credit report for up to 10 years so it may not immediately bring down scores.

With higher limits, it is easier to maintain lower utilizations, so I wouldn%26#039;t advice reducing your limits.

Another key point to remember is to only have less than half of your credit cards reporting a balance.