Profile picture for tam325

Is there a fast way to raise credit score?

I am so discouraged.  I have found a well-paying, high-demand position in health care.  I have almost doubled my income from when I was working in the IT industry.  
Because I travel for work and neglected to pay two bills on time, my credit score has dropped again.  All the work to get it up from the low 400s to high 600s!  I have very little debt.  I only have two credit cards; one now paid off, the other a low balance.   Yet now I can't qualify for a loan.
  • January 26 2010 - Phoenix
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Answers (5)

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Profile picture for sunnyview
Congratulations on your great job! There are lots of things you can do for free to improve your credit score and make it easier for you to buy, by targeting areas you can work on to raise your credit score.

Start by getting a copy of your credit report so you know what is on it and what your current score is. One credit report a year is free from the credit reporting agencies here, but you will have to pay a small amount for your actual credit score. Last time I looked it was about $12. You can get strategies to improve your score here and here. The myfico site also has a break down of what makes up your score and what you can do to improve it for free. Focus on making yourself a good candidate to buy before you buy. It will reduce your costs in getting a mortgage and make it more likely that you will be able to keep the house that you buy out of financial trouble later. 

You can raise your score. Get your reports with score, figure out what you can change to raise it and then you will be on your way to good credit again. Hope the links help.
  • January 26 2010
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Many of the mortgage brokers I work with are willing to work with clients to help them quickly bring up their FICO score.  Talk to your mortgage broker and see if he can work with you to bring up your score.  Good luck.
  • January 30 2010
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You may consider contacting the creditors that recently reported your late payments and ask them for a one time courtesy delete, it couldn't hurt.

Good luck.
  • January 29 2010
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One trick is if you have a parent with good credit or a loved one you trust have them add you to their credit card as an authorised user they have had for a long time and in one month all of their history will be yours too.You do not have to have a card just your name on the account.  Good luck and keep up the good work.
  • January 26 2010
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Best bet is to talk to a mortgage broker they may have some ideas for you. But use your card that is paid off once and a while and than pay it in full right away. That should help you. good luck.
  • January 26 2010
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