I recently pulled my credit score and it s 630. I currently have $3500 balance on 3 credit cards out of a total $4000 credit card limits. However I will be paying these off in full next week when I get my bonus from work. (woohoo!) but I still have $25000 in student loans and a $9000 student line of credit that I make monthly payments on. I make about $70k a year and I am hoping to purchase a condo or townhouse for around $180k in the next year or so. But I'm not sure if I will get preapproved for mortgage. I am single so it is only my income. My parents will give me $$10000 for downpayment for property as a gift as they did not contribute to my university. Can someone please help me with a couple questions? -how much will it increase my credit score to pay off the credit card debt in full -how long will it take after paying that off to see the increase in my credit score -should i close my credit cards or keep them open and not use them? ive had all of them for over 5 years -what credit score do i need to get preapproved for amortgage? thanks people of yahoo;0)
This is the scenario : Say someone has 6 credits , 3 of which were paid on time,
I have 22 years and just bought a new car to put down $ 4,500 and took out a loan of 15,000 with the help of a bondsman . My credit score is now 560 because I never had any credit account (it did increase slightly after the opening of a credit account ) . I made a payment so far and I'm curious to know how long it will take for my credit increase to around 700-720 with the monthly payments on time? Im thinking maybe in a year or so to refinance the car through my credit union (only I have a savings account with them ) to get a better interest rate (currently 9% ) and remove my retainer loan. Thanks for your help ! :)
I posted a couple of questions , one of which I had said I paid all my bills receivable. According to some of the answers it seems as if my credit score will not increase , but that will happen since I've paid my dues ! I do not understand because I've read several times that when people file bankruptcy your score will go up after a couple of years . I have also paid some overdue bills in the summer , and my credit score has revealed - for 50 points . But I still say that the people here that my credit score does not go up , even though my bills are paid and I have only my car loan , credit cards and student loans ( up to date never late on any of them - all over 3 years old ) . I do not understand ! When I see something positive in my credit report ? ? ? ? ? : (
3 years ago , I went through a divorce and say that I have accumulated some debts they could not pay . So I had some debts that were not paid for about three years . Anyway ..... This year I have a new job and got the last $ 15k debts paid . I also made sure my credit reports from Equifax and TransUnion both were accurate and showing my debts paid . I also managed to get a credit card that I use every month and pay in full . So my question is , how long will it take to get my credit score high enough for me to get a loan on my own. My credit score
I 'm buying a new home and if I can get my credit score around 650 , I'll get a better loan . I do not close until January , so I have some time . I bought a car in December 2006 and I was waiting for my payment history it will help me too, but I do not know how long it takes to appear in my report . I know I pay my credit cards will help and I'm very close to getting that way down the debt , but I need some suggestions on what I can do .
I want to buy my first house in about 6 months. Is it possible to increse my score from 610 to 675 in six months? I have only two credit cards and using only 20 % of my available credit. I have no loan. About two months ago I had a year of collection that has been paid by university parking tickets . I also had an old credit card bad debt charges and 2 ½ years ago . I had a car loan three years ago , but paid off quickly , which was paid in 1.5 years . All I have now are my two credit cards to increase my score ? Should I pay off my post also , I was told that this will do nothing on my own ! thanks
My credit score is excellent , but my girlfriend is really bad . Your mother ruined his credit when he was 18 by using his name for a lot of things and not pay . He can not even rent a car , but she has made all payments on your new car she had to buy last year. She also has a credit card only , and renting an apartment . That's all apart of some loans to students who have not yet started . She has spent years trying to improve but is still very low . Anyone have advice ? Thank you.
After recent financial stress and the need to seek modification of the mortgage loan and go through indulgence , my credit has taken a hit and nasty quick . I was granted a 6-month reduction in the payment to help me not to be able to pay them all, but this is still being reported to the credit bureaus . I was able to make my first payment of the loan today and will be able to continue with that now that my husband is deployed and receive greater compensation . I would like to improve the score on the year . Is it a realistic goal ?
Im trying to qualify for help with paying for the State of California , so you can buy a house , my loan representative told me that I have to have a credit score of 620 , mine is 617, Currently I have 2 credit cards that are max out to a limit is 550 and the other is 750 , so I have a personal loan of 5419. so I was wondering if I pay my credit cards , and how much I have to pay for my credit score to increase? and how long before they reported to the credit bureaus ? Thanks for any suggestions .
Is debt consolidation increase my credit score ? What are the other options that will help increase my score ?
I'd like to hear from those who really know what they are talking about , not those who just write about anything just to score points .... I have a FICO score of 551 and the following : A student loan of about $ 3,300 bal , A new secured credit card limit of $ 200 with zero balance , a credit card limit of $ 100 to store zero balance A loan fee of $ 5,400 bal , Some late payments that go back to the last in Jan 2007, A credit card that was closed by limit of $ 200 ( closed by grantor) , A Bally Total Fitness ACCT was paid in full ( satisfactorally ) . Based on these facts how long will it take for my score to 700?