Profile picture for queenD1978

what's the best n quickest way to improve my credit score?

  • July 05 2011 - Lafayette
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Answers (4)

Profile picture for Cindy Quinton
Some good advice here, but I have found that the boards at www.myfico.com are the best boards for getting credit advice.

Closing credit card accounts is hardly ever a way to quickly improve credit scores. Paying them down, but not closing them is usually better. Closing an account can change your average age of accounts...older is better.

Long term you may wish to close accounts, simply because they won't be used or the cost too much to keep. And a lender may ask that you close them, but it usually won't increase a score in the short term.
  • March 29 2012
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Paying your revolving credit down to 5-9% of the high credit hands down on every file it works.
  • March 29 2012
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Profile picture for Mills Realty
Certainly the quickest way to improve your credit score is to pay your bills on time and be sure to avoid any delinquencies.  You should also check your credit report to see if there are any errors and if there are contest them and have them corrected.
  • July 06 2011
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Hi Queen D,

Without seeing your credit report, it is difficult to offer an opinion. But, number one item-pay your bills on time!

Now, with that said, is your credt low due to a lack of credit history? If so, perhaps you should obtain a credit card. Use it sparingly and make your payments on time. If you don't qualify for a credit card, go with a secured credit card ... you pay in advance and charge against the balance you have deposited.

Is your credit score low because you have to much available unsecured credit (many credit cards that you do not use)? Cancel some of your credit cards ... pay in full & close the account. Keep a few credit cards and pay on time.

These are just a few ideas. You can always consult with a credit counselor, or a loan officer at a bank or credit union.
  • July 05 2011
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