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Answers (3)
- sunnyview
- Contributions:25139
Keep any credit card balances to no more than 30% of your limit, pay all bills on time, re-establish credit by starting with a secured credit card, limit your amount of debt overall and build your credit card accounts up by opening and keeping 2-3 cards current. Use those cards in rotation and ask each card to increase your credit limit by a little bit at least twice a year to lower your overall credit utilization percentage.
There is an article here from myFICO about how your credit score is calculated and what you can do to improve it. Hope it helps.
There is an article here from myFICO about how your credit score is calculated and what you can do to improve it. Hope it helps.
- William Dawes, "ewpdawes"
- Contributions:24
The credit bureaus like you to have at least 2 open trade lines. This would be 1 credit card, and 1 other source of credit (Car Loan, Installment Loan, etc) or just 2 credit cards.
This ensures that the credit you are making payments to will be reflected on all three credit bureaus. If you only have 1 credit card it's possible that that card 'could' only report to 1 credit bureau, which would only give you one score, not the needed three.
Keep your balances on your credit cards <50% of the high credit. So if your high credit is $500, then keep the balance below $250.
If you continue to make payments on at least 2 credit accounts after your bankruptcy you 'should' have enough re-established credit after 2-years to go with an FHA loan.
Feel free to email me for more details, I've been doing credit repair for eligible borrowers for about 3 years now.
Best of luck to you!
This ensures that the credit you are making payments to will be reflected on all three credit bureaus. If you only have 1 credit card it's possible that that card 'could' only report to 1 credit bureau, which would only give you one score, not the needed three.
Keep your balances on your credit cards <50% of the high credit. So if your high credit is $500, then keep the balance below $250.
If you continue to make payments on at least 2 credit accounts after your bankruptcy you 'should' have enough re-established credit after 2-years to go with an FHA loan.
Feel free to email me for more details, I've been doing credit repair for eligible borrowers for about 3 years now.
Best of luck to you!
- James Callas, "ABBAUSA"
- Contributions:960
Pay all bills on time.
Save some money out of each pay source.
Live way below your means.
If needed purchase a clean used vehicle or new. Pay on time.
Car credit is different than House credit. Easy to do after bk if you have good income.
Use credit wisely and save. Pay on Time can not be stressed enough.
Good Luck!
James Callas - Realtor®
Save some money out of each pay source.
Live way below your means.
If needed purchase a clean used vehicle or new. Pay on time.
Car credit is different than House credit. Easy to do after bk if you have good income.
Use credit wisely and save. Pay on Time can not be stressed enough.
Good Luck!
James Callas - Realtor®
what the best n fastest way to build credit after bankrupty
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