What to do about .....

[1988GTU]

I am looking at an opportunity to do a few things by improving on one thing and it has to do with the ole credit score BS. I could potentially save a few dollars a month, obtain a few dollars for a loan I have been thinking about putting to use, and further more improve my credit number... BUT! (always a but) I only need 4 points to do so and have less than 10 days to make it happen....... and therein lies the problem. Any suggestions? Are there classes one could take to improve the score (kind of like going to drivers responsibility and they reduce the fines or points for a ticket) ?

[diedemus]

if you have an open credit card you can make a payment for double the bill for the month, this may raise it enough for the loan.

The majority of your credit score is based on the amount of credit currently in use based on total credit available.

[themadness]

i read opening a new card helps. maybe go to some big dept store and open one of their credit cards, or get a gas card. you dont have to use it just open the account.

calling the major ratings companies and correcting any discrepancies may help if you have any. last time i checked mine there were a few incorrect dates for loans being paid off. changing that may score another point or two.

those may just be brain farts but they might help.

[diedemus]

I've been rebuilding my credit since my dad fucked me over when my parents got divorced. Opening a new card can help, but only if you have not requested credit in the past year. more credit requests will drop your score instead of helping.

[ErichZ26]

I've been rebuilding my credit since my dad fucked me over when my parents got divorced. Opening a new card can help, but only if you have not requested credit in the past year. more credit requests will drop your score instead of helping.

Your dad fucked you over?



Avoiding credit sometimes helps. I was amused when i checked my credit score to find out it was not bad at all. I used credit in my 20's good and bad. Avoid credit cards at all costs. Avoid Store cards. Repay old debt.


School loans and Home Mortgages used to be good places to build credit. But those have gone to the stinker hence Occupy Wall Street and Foreclosures.

Save your money with simple interest. Don't be surprised when banks are willing to talk business when they know you have cash sitting in the bank.

[1988GTU]

Save your money with simple interest. Don't be surprised when banks are willing to talk business when they know you have cash sitting in the bank.

That doesnt work all the time.... I've proven that myself.

[ErichZ26]

Most of the time you can get a loan on property with 25-30% of some equity regardless of lacking credit. If you have a bunch of store cards that won't help you...it could actually hurt you. The same with small loans. If you can take a small loan and turn that into money you can make money off your borrowing potential..even small.


Saving can be painful..there is no easy way around it. I would strongly recommend.



Another option is to marry well. Same sex marriages are legal in many states now

[1988GTU]

Lol cack... i am not into your door swinging gaame!

I actually have ran into a predicament to where i had 30% cash on hand and couldn't get any bank to give me the other 70% at a fair rate. But then I've had less than 10% for other situations and they approved me for the rest. Its all about the figure amount one is looking to obtain. For 100,000 having 10% is easy enough to do. For 350,000 having 30% wasn't cutting it.

Its a big racket of scamming.

[ErichZ26]

Something is not right. With a small business it can be a pain in the butt to qualify on the income end but with a potential owner coming up with 30%. And I am not even talking about the 30% tied up in another property. Petty loans and store credit is not going to help your condition. Chad should chime in here...he does work for a bank and I believe this is his department.

[Chad91GTZ]

Which Chad? Lol we both work in Finance.

[ErichZ26]

Which Chad? Lol we both work in Finance.

Chad from Wisconsin........


who lives in Cali

[1988GTU]

Well i have no problem getting the needed loan, I just could benefit from an ever so slight credit bump to qualify for a better rate.

[Chad91GTZ]

Which Chad? Lol we both work in Finance.

Chad from Wisconsin........


who lives in Cali

I was about to be all like but omg


Opening a new credit card is a good plan, as long as you haven't opened another recently. To be frank, if you are getting flak over a few points, find a new bank.

Fico score means nothing outside the US, its a horrible system and a completely arbitrary number.

[1988GTU]

Welp turns out I didnt have to do anything .....

The mortgage lender agent worked with a existing file thats in my credit history and seen two current loans out for past college and I only should have one... lets say I boosted my credit far more than I needed to.