Credit problem??
I recently had some collections accounts that were not mine deleted from my credit report…now the only credit I have is a credit card from Premier. I just opened that account about 3 months ago, and I have been doubling up on my payments. That is the only thing one my credit..besides my student loans that aren’t due until 2009. Is it best to pay the credit card off, and apply for another credit card, or just make the minimum payments for about 6 months. I also got my credit score and it is in the low 600’s. How can I improve that?
You need one more credit card and the simply use the two of them for everyday things being careful never to exceed 30% of your credit limit and pay them off in full before the due date.
This will do two things, it will establish a good pay history and it will keep your debt to credit ratio low. These two things alone make up 65% of your credit score.
The other thing yo can do is get a small personal loan and pay it out over 12-months and never be late. Lenders look for at least 12-payments made as agreed.
