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starwarznut

Best way to raise credit scores?

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My score is currently 515, with only one negative (a credit card I was an auth. user on) and that neg is being removed right now. I only have two credit cards showing on my report, both in good standing---a jewelry store card and a Best Buy card, and my student loan. Those are the only three things showing on my credit report right now.

 

I want to get a car loan without a cosigner, and I know I need to raise my score. What's the most effective way to raise my score, and how long will it take? I have a small bank loan in perfect standing but that hasn't been reported to the credit bureaus...can I request that they report it, and will that help?

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Get listed as an AU on an old credit card with an excellent payment history....

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contact the company that you are currently an AU on that is reporting negatively and tell them in writing, that you wish to be removed as an AU. Should help you out some, then you will only have pos TL's.

 

And, Pryan nailed it on the AU thing!

 

Good luck!

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In addition to the AU you can take out three secured loans from credit unions for $500 each, use the loans to pay each one back over the course of the next 6 months and all it will cost you is the 6-8% interest on the loans. it will add 60-70 points to your credit by the time your done.

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Charge close to your limit on the cards you have then pay them back down over a couple of months, so the balances can be reported. Don't leave a balance over 50% of the limit on any cards & don't pay the entire thing off right after you use it. You can continue the cycle over several months and things will improve.

 

It looks like your score it low mainly because of short history and no mortgage or auto being present. GEt a myfico score and it will tell you the main reasons. You can probably get an auto loan with that score at a higher rate. But with rates so low now it won't be that bad, then after you get some good history on there you can refi. Trust me, any dealer will find a way to get you financing w/ that score.

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All you have to do is dispute it as Authorized User only and all the CRA will delete it almost instantly. I had a few on mine and they got deleted instantly.

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