To improve my credit score do I have to pay off debt?

To improve my credit score do I have to pay off debt?
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1 Answer

Answer :

Having a credit card and using it responsibly can help improve your credit score. It is recommended that you don't spend more than 30% of your credit limit. Also taking out an installment loan and making your payments on time, and paying down your credit card balances also helps your score.
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Related questions

How do I consolidate my debt to improve my credit score?

Description : How do I consolidate my debt to improve my credit score?

Last Answer : The best way to consolidate your debt is to go to your bank and speak with their consultant. They usually have a department to help you with reducing your debt.

If I pay a lump sum settlement will my credit score improve?

Description : If I pay a lump sum settlement will my credit score improve?

Last Answer : Usually it says paid in full for less than the full amount. (or something like that .) It might look better to some creditors and it might raise your mysterious FICO score by a bit, and it will ... last transaction, so if you pay the settlement, it will be seven years from the date you paid it.

How do loans and debt consolidation affect credit score?

Description : How do loans and debt consolidation affect credit score?

Last Answer : If you pay your bills on time and in full each month it will help your credit score rise. If you are late on payments and have outstanding payments then your credit score will become lower. Your credit score is an important thing to help you obtain loans such as car loans or a mortgage.

How to consolidate debt and get a better credit score?

Description : How to consolidate debt and get a better credit score?

Last Answer : Christian Debt Consolidation is the best they either do not charge a fee or a very small fee to help consolidate your bills. Also all balances on credit report must be half or more paid to keep a good score.

Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?

Description : Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?

Last Answer : Better to pay off. Bankruptcy puts a big mark on you credit report, no one wants to get left holding the bag when you opt out of your debt. Bankruptcy takes the legal obligation away, but does not clear your record.

How can someone pay off their credit card debt?

Description : How can someone pay off their credit card debt?

Last Answer : There are many companies in exsistence today that can help people with growing credit card debt, such as; Consumer Credit, Care One Credit, and a company called Credit Card Debt. One of these services will steer you in the right direction in lowering and eliminating your credit debt.

Where can I find more information about loan to pay off credit card debt?

Description : Where can I find more information about loan to pay off credit card debt?

Last Answer : There are a lot of sites offering advice on this topic. The first one I found is here: http://www.fool.com/personal-finance/credit/9-ways-to-pay-off-debt.aspx

What are the fastest ways to pay off credit card debt?

Description : What are the fastest ways to pay off credit card debt?

Last Answer : One of my first suggestions would be to pull a copy of your credit report. I would then have you go through and pay off each incident on the report. A financial advisor could help you to get all of these incidents in line.

Where can I learn how to quickly pay off my credit card debt?

Description : Where can I learn how to quickly pay off my credit card debt?

Last Answer : Typically classes regarding paying off credit card debt are offered by community based organizations. The best bet for paying off credit card debt is to go see a credit couselor.

How to improve credit score within 2-3 months?

Description : How to improve credit score within 2-3 months?

Last Answer : answer:It depends on what kind of credit you are trying to get, and how lenient the loan officer feels. You have to convince them you are able to pay back the loan. Credit Unions are the best places to get car loans, and if you have automatic deposit of your pay check, it will be easier.

What’s a creative, effectively efficient way to improve credit score and save money in order to buy a home?

Description : What’s a creative, effectively efficient way to improve credit score and save money in order to buy a home?

Last Answer : answer:Start saving you will need a down payment. I pay myself first and them my bills and the leftover is play money. Pay all your bills on time. NEVER LATE. Poor credit can stay with you for years ... good used car. Your income to debt ratio needs to be very low to increase your score. Good luck

How can I improve my credit score?

Description : How can I improve my credit score?

Last Answer : Get a very low available balance ($500 a month) credit card, spend no more than $300 a month, and pay it off every month. The credit people aren't impressed by you maxing out out your card ... ) and they aren't impressed with how much you spend, they're impressed by your restraint and consistency.

How can I improve my bad credit score?

Description : How can I improve my bad credit score?

Last Answer : My credit score was 571 and I couldn’t get approved for a loan, a car and a house... NOTHING! It was draining in every aspect of my life because I got kids I have to protect their ... with him today and make a bright future tomorrow. Goldhacker100 on instagram, they are really the best trust me

How To Improve Your Credit Score?

Description : How To Improve Your Credit Score?

Last Answer : The economy continues to wreak havoc on the financial lives of a lot of people. As a result of that, a lot of credit scores have taken a dive. Drops in credit score can happen due to any ... consistently manage your debt and pay it off regularly and you’ll have a solid credit profile in no time.

What is the best way to improve my credit score?

Description : What is the best way to improve my credit score?

Last Answer : The best way to improve your cedit score is to get on the path to eliminating your debt and becoming responsible with money. You can do this by planning your purchases and using cash unless you ... purchase, make sure you have cash to back up your purchase if using credit. www.moneymanagement.org/

How can I improve my credit score to qualify for an online credit card?

Description : How can I improve my credit score to qualify for an online credit card?

Last Answer : A few ways to improve your credit score is to 1. get out of debt. 2. always pay off your credit card in full. 3. Use your cards lightly. 4. Use your old card. For more ideas on how to ... score is located on http://money.msn.com/credit-rating/9-fast-fixes-for-your-credit-scores-weston.aspx?page=2.

does using my credit card improve my credit score or damage my credit score?

Description : does using my credit card improve my credit score or damage my credit score?

Last Answer : Using your credit card can go both ways! If you choose not to pay your bills on time, you will recieve bad credit. If you pay all your bills on time, I'm certain you will have a squeaky clean credit!

What do I need to improve my credit score for an auto loan?

Description : What do I need to improve my credit score for an auto loan?

Last Answer : To improve you credit score for an auto loan, you need to pay off your bills on time. You should pay off your debt. You should not take out additional credit and you should check your credit report.

How to Improve Your Credit Score Rating?

Description : How to Improve Your Credit Score Rating?

Last Answer : Due to the high rate of loan defaults over the past few years, banks rely heavily on a borrowerï ½s credit score to ensure that they will pay back their loans as agreed. ï ½ If you have a ... your score.ï ½ Paying these down will result in an immediate improvement to your credit score rating.ï ½

Where is the site in which you can pay to have your credit score raised?

Description : Where is the site in which you can pay to have your credit score raised?

Last Answer : Fraud scam !

If I only want to pay for one credit score, which credit reporting company should I order it from?

Description : If I only want to pay for one credit score, which credit reporting company should I order it from?

Last Answer : Our mortgage company uses Equifax.

I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?

Description : I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?

Last Answer : You cannot get your name off the mortgage unless you refinance. You may be able to have her refinance the home if you sign a note for the difference between what she can finance for and what is owed. You can also contact the first and second lienholders and request a short sale without recourse.

Have you ever cashed out a significant chunk of assets to pay off all of your debt? In hindsight, was it the right decision and why?

Description : Have you ever cashed out a significant chunk of assets to pay off all of your debt? In hindsight, was it the right decision and why?

Last Answer : Earlier this year, I was faced with school loans and other debts that I could make the minimum payment for, but with interest rates, I felt like I wasn't making a dent in the actual amount. So I sold my car ... than a car, I don't know if this helps, but I don't regret my decision the least. =)

Did the pilgrims planned to pay off their debt with the fish they caught?

Description : Did the pilgrims planned to pay off their debt with the fish they caught?

Last Answer : yes

Who agreed to work to pay off a debt?

Description : Who agreed to work to pay off a debt?

Last Answer : Indentured servants would work to pay of the debt of theirpassage to America.

What bank will give me a loan to pay off the debt I accumulated in college?

Description : What bank will give me a loan to pay off the debt I accumulated in college?

Last Answer : Banks such as Bank of America and Fidelity are very good at handing out loans that can be used towards college debts and school tuition, as they have good return policies.

Where can we go to get a loan to pay off debt?

Description : Where can we go to get a loan to pay off debt?

Last Answer : Loans to pay down or pay off debt can be found at a few locations. The interest rate will be higher if you possess a low credit score. Banks. credit unions, or even family members may be able to assist you.

A type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off his all previous debts is termed as ________ A. Debt Recovery B. Debt Settlement C. Debt Management D. Debt Consolidation

Description : A type of loan, where the bank or the lending institution provides the borrower with a loan that helps the borrower to pay off his all previous debts is termed as ________ A. Debt Recovery B. Debt Settlement C. Debt Management D. Debt Consolidation

Last Answer : D. Debt Consolidation Explanation: Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others.

How can I improve my National Geographic doomsday prepper score?

Description : How can I improve my National Geographic doomsday prepper score?

Last Answer : I can go as high as 45, 2–4 months from my living conditions. How high can you go?

Can I improve my SAT score?

Description : Can I improve my SAT score?

Last Answer : General reading and learning will be the best for your score. Also look into test taking (how or whether to guess, etc.).

What can i do to improve my sat score?

Description : What can i do to improve my sat score?

Last Answer : answer:My daughter did extremely well on the SAT and GRE by constantly doing vocabulary flash cards, reading journal articles, and continually taking math classes. If there is a community college nearby, you ... prep materials on Amazon, you may want to look at the McGraw Hill series of help books.

How do you get your credit score to 800?

Description : How do you get your credit score to 800?

Last Answer : If you don't want to open more credit cards you could try to just get your credit limit raised on the card you already have. For instance if your credit limit is currently $5K on your visa, see ... in full, that you currently have transactions not paid counts. It is not just about paying on time.

Suppose every adult had to wear an armband showing his/her credit score on that armband. How would that change society?

Description : Suppose every adult had to wear an armband showing his/her credit score on that armband. How would that change society?

Last Answer : I think a lot of people would be embarrassed at their actual score, driving around in expensive cars they can’t afford, living on credit card debt.

How can I fix my credit score fast?

Description : How can I fix my credit score fast?

Last Answer : Welcome to Fluther. Well, you can't fix your credit score quickly ; that's actually one of the good things about it as an indicator of a person's reliability. That is, it reflects the ... spending money that you don't have indicates low self-discipline, and who is interested in hiring that person?

Should I get a credit repair service for a credit score of 670?

Description : Should I get a credit repair service for a credit score of 670?

Last Answer : Noooooo

What are some ways I can make my credit score higher/better?

Description : What are some ways I can make my credit score higher/better?

Last Answer : This detailed article should help with your query resolution

Can you explain why my credit score increased?

Description : Can you explain why my credit score increased?

Last Answer : Probably you just paid your bills on time and furthered your track record by another month.

Where can I check my credit score for free?

Description : Where can I check my credit score for free?

Last Answer : There are three sites that give you a free credit report including your score for free every 12 months. Let me see what I can find.

Who gives the most accurate credit score?

Description : Who gives the most accurate credit score?

Last Answer : answer:I don't think that there is such a thing as most accurate . Each of the credit companies (Equifax, Trans Union, etc.) has their own proprietary algorithms which take into account slightly ... but you cannot really say one is right and the other wrong, because they're calculated differently.

Is one's credit score actually important?

Description : Is one's credit score actually important?

Last Answer : answer:It matters if you ever buy a house, lease a car, get a personal/business loan, apply for a credit card, or apply for certain jobs. Other than that, no, your credit score doesn’t matter at all. Paying for your credit score, however, is totally unnecessary.

Will I get an auto loan with a credit score of 662?

Description : Will I get an auto loan with a credit score of 662?

Last Answer : answer:Yes, you will. But a 662 will probably get you a less attractive rate than if you had a 750, because you will be perceived (right or wrong) as more of a credit risk. The amount they give you will ... income, and the age and condition of the car. There's no way for us to know either of those.

How can I get a student loan, in Alberta, with a 725 credit score?

Description : How can I get a student loan, in Alberta, with a 725 credit score?

Last Answer : Contact a branch of ATB Financial and ask a credit officer.

What's the best way to get my credit report / score?

Description : What's the best way to get my credit report / score?

Last Answer : you can get a free copy at annualcreditreport.com. This will tell you what your report says but it won't give you your FICO score. You will have to pay for that. There are three credit reporting agencies, ... to one or two. Each must give you a free credit report once a year if you request it.

Can my spouse's credit score be affected?

Description : Can my spouse's credit score be affected?

Last Answer : I don’t know. I would ask an attorney or an accountant.

How often does your credit score change?

Description : How often does your credit score change?

Last Answer : It is fluid. It is constantly changing, and it is based on the length your accounts are open, your last billing cycle, and your last late payment.

Would raising your credit limit negatively affect your credit rating/score?

Description : Would raising your credit limit negatively affect your credit rating/score?

Last Answer : I'm not 100% sure about this, but every financial guidebook I've ever read said to keep getting your limit bumped every year if you need it or not. If it were harmful to your credit, I don' ... be so widely advocated for. Therefore, my best guess is that it's neutral/beneficial to your credit score.

What's a good website to check my credit score?

Description : What's a good website to check my credit score?

Last Answer : Unfortunately all my results are for in Canada, but this may have an american version.

Do you always need a good credit score to rent an apartment?

Description : Do you always need a good credit score to rent an apartment?

Last Answer : answer:Why are you sure you have bad credit? Have you looked up your scores? Apartment complexes probably will look up your credit, and turn you down if it is bad. If you rent from so eone who ... rent as a security. If your dad will sign to guarantee payment, probably you will have no problem.

Why does checking your credit score lower your credit score?

Description : Why does checking your credit score lower your credit score?

Last Answer : I assume it is a clear indication that you plan to take on more debt than you previously were carrying.

Is there a way for me to use my land contract to increase my credit score?

Description : Is there a way for me to use my land contract to increase my credit score?

Last Answer : answer:Who holds the deed? Is this a person that is receiving a monthly payment from you that is NOT a bank or mortgage company? Not to be funny but timely payments to a non-financial institution is like try to get a credit score improvement for timely payment to your bookie.