Pay your bills

renew and turn in everything on time

Paying off a car loan is the second best way to raise your credit score behind a mortgage, Student Loan payoffs are good as well.

Maybe you could use some of that cash you have to find someone who can clean up your credit report.

Start small, what ever you can get, pay like clockwork. Soon you will be offered a credit card, make small purchases and pay it off immediately. It may take several years but if you are truly conscientious you will soon see your credit score go up. Also once you have paid off your bad debts ask them to remove them from your credit report sometimes they will.

A bad score is about too many accounts not paid off. The more you work on them the higher your score becomes: I believe its for every 100 you pay off, 5 points is added back to your score. Something like that. Anyway, I have the a great question for you: Why, would you want a loan if you have cash on hand? Use the cash to buy what you need. Its not a good idea to expect a loan on something you “want”. Save up on your own by making a goal to get that item and that way you stay away from interest. Savings is about discipline; loans is about “having it now”. This is why our economy is in sad shape. People want things now instead of saving up for it later. Its the same predicament those fat cats on wall street have experience. They’ve over-extended themselves, too.

The answer to your question – paying your bills on time, plus keeping your credit balances below 50% of your credit limits.

If you know your credit score is low – you need to get your own copy of your credit report. Credit agencies are required by law to give you a free report every year. Go to freecreditreport.com – if you get the free one, it will not show your scores, but it will show enough information for you to check if you have any bad information listed. Then you going to dispute the wrong information.

One thing when shopping for a loan. Get your own paid copy that you can email, that shows your credit scores. Black out your SS# and scan into your computer, so your report is not pulled time and time again – that is another thing that can cause your score to be lowered (too many inquiries).

One thing you can do to raise your score – send extra into your installment payments. Over a six month period, your score can shoot up.

Good Luck

credit is a time proses so don’t expect your credit to boost up right after you pay off your debt. Now, there are ways to help your credit build up a little faster if you have some one with good credit puts you as an authorize user on their credit cards, but dont forget, it will still takes time, unless you sign up to be put as an authorize user on one of those millionaires credit card, which they do it but charge a lot of money.

Anaise has it right. Getting a good credit score is all about paying your bills on time (never late), and paying off your debts. Call one of the three credit score companies (like Trans Union) and make sure your accounts are current and that nothing is there that shouldn’t be. It takes time to get your credit score to improve, taking at least six months for every improvement. It’s important to not have too many accounts open, so only do what you must do. If you’ve got cash, don’t worry about opening more accounts. Use your cash…it still works even in today’s economy. If you truly have everything paid off and still need to show you’re a trustworthy client, get something from Fingerhut. They give credit to just about anyone, and you can pay it off in full, or in the small payments that they set up (which cost more in interest if you carry them each month). My concern is that if you’ve got no current accounts, but are being held back because of Chexsystems, you need to find out why this one place is the only reason you’re being held back. If you’ve got them paid off, that should improve your credit. I’m still not clear on why you are pursuing a loan when you state you have cash on hand for large deposits. If you’ve paid off all your debts, that’s a good thing and will improve your trustworthiness to those extending you credit in the future. Credit is for those who can’t afford to pay for the whole thing right away. If you’ve got the money, don’t pay the credit companies by opening an account. Let them bail themselves out of the trouble they’ve caused this country. But, if you really must open an account, do so with the intent of paying it off every time you buy something. That way, you save yourself from paying all the interest every month, and you show that you’re a good risk for any future loans. < *)))><

Go online to experian, transunion or equifax and pull your credit report with score they actually have a tool that you can use to say “what will increase my credit score” or something along those lines. It will cost you money to pull your report but it is well worth it to see what’s on it and what your score actually is. If you have applied for a ton of credit cards that can actually lower your score. A cell phone may not refect good credit on your report because they may not report anything until you stop paying them. If you could get a combination of a car loan and credit card and be responsible with them that should help your score. As far as chexsystems you need to figure out with them if you have any outstanding accounts/late charges etc and get them paid off as well. Your bad credit score could be affecting more things that you realize like insurance, ability to get loans, interest rates along with many more. If you have debt that you are having problems paying off I would recommend something like http://www.incharge.org to have them help you pay off your high interest credit cards etc if you have any. Other than that it will take time for you to build your scores back up. Example in my situation by being responsible etc over the course of 2 years I was able to raise my credit score a 125 points.