Incease Credit Score?

[Rider]

Originally Posted by ontwo

120 points will take a while.

And getting MORE credit will not help. The more available open credit that you have will LOWER your score. Also, everytime you try to get said additional credit, the bank will pull your credit again and that LOWERS your score.

The only real solution is to get a copy of your credit report. First, pay any outstanding collections or judgements. Next, catch up any payments that are currently past due. Next, make sure everything on the report is accurate and dispute anything that is not.

Other than that. Maintain PERFECT pay history, and the rest will just take time.

100% false. They look at you available credit and the % of what you are actually using.

[ontwo]

Originally Posted by Rider

100% false. They look at you available credit and the % of what you are actually using.

I won't argue that, BUT Equifax actually has a line item that says "Too many consumer finance accounts open" and "Time since most recent account opening too short" That is why running out and getting a whole bunch of new credit will not speed up the process of increasing the score.

The hit in terms of inquiries will be worse than opening the new credit.

[Adeptus_Minor]

Mine is only middle-of-the-road. I have a bad note in my past, but everything is now paid current. The only thing that's holding mine back is not enough activity, so I would at least partly agree with both ontwo and Rider.

[Rider]

Originally Posted by ontwo

I won't argue that, BUT Equifax actually has a line item that says "Too many consumer finance accounts open" and "Time since most recent account opening too short" That is why running out and getting a whole bunch of new credit will not speed up the process of increasing the score.

The hit in terms of inquiries will be worse than opening the new credit.

I agree with that. I was looking at it from the point of view of already having credit accounts open that are not being used. Opening up new accounts will be negative for a while.

[ontwo]

Originally Posted by Rider

I agree with that. I was looking at it from the point of view of already having credit accounts open that are not being used. Opening up new accounts will be negative for a while.

[azoomm]

Originally Posted by xx CURVE xx

It's my old house where i lived before i moved to Austin...it's been paid off for years...

Gotcha, I was confused.

Over 100 points is going to be difficult quickly... Try the mafia

[tommymac]

Time is the best thing to see you pay stuff off on time and can manage/maintain balances. Most of my big loans I over paid and paid them off early.

A side? I had an old CC I hadnt used in some time, I kept it becasue i had it the longest. they dropped me due to along period of inactivity. Would that hurt the credit score?

Tom

[Adeptus_Minor]

Originally Posted by tommymac

A side? I had an old CC I hadnt used in some time, I kept it becasue i had it the longest. they dropped me due to along period of inactivity. Would that hurt the credit score?

Tom

Probably.
In order to be considered a responsible American, you have to do a certain amount of business with the debt-dealers.

[xx CURVE xx]

Originally Posted by azoomm

Gotcha, I was confused.

Over 100 points is going to be difficult quickly... Try the mafia

You got their number?

[Rider]

Originally Posted by xx CURVE xx

You got their number?

Yes