How to raise my credit score????

I just looked at my credit report and I don%26#039;t like what I saw. I am 23 and I knew that when I was younger (18-20) I was not the most responsible person in the world. I want to buy a house in the next couple of years so I know I need to start trying to repair my credit report. What are good ways to rebuild your credit?

Thanks for your help.

How to raise my credit score????

As all others have stated, keep credit card balances low and avoid closing your credit card accounts. You should have at least four credit cards (2 x store credit and 2 x major) all with low balances. You will also need to create a small installment loan through a bank (%26quot;signature loan%26quot; by name), and ensure that small loan can be paid off in a couple of years. Your credit will improve dramatically with these combinations.

You will need to monitor your debt-to-income ratio (DTI) and ensure that your debt does not exceed 30% of your total income. When you buy a house, credit underwriters will examine the amount of debt you owe, compare it to your income and judge whether or not you are taking on too much at one time. Very important factor for people with good credit (the score is not always the sole benefit).

You mentioned you didn%26#039;t like what you saw on your credit report... good. Identify the inaccuraces on the report and immediately dispute them by contacting all three credit bureaus (Equifax, Transunion, and Experian). During this dispute period, your score will slightly rise. They%26#039;ll have 30 days to respond to your disputes. If they do not respond within 30 days they MUST remove the negative information, by law.

If you are buying a house in a couple of years, do not acquire a car loan for that period until you close on the house. Maintain the amount of credit you will acquire and save your money. You do not necessarily need a down payment to get a decent interest rate on a home in the next couple of years. You%26#039;ll need good credit, low and maintained debt, and money in the bank to show that you are financially solid.

God bless.

How to raise my credit score????

Limit the amount of cards, loans, lines of credit you have.

Keep balances as low as possible.

When you have a balance, pay every month on time.

Stop applying for additional credit.

How to raise my credit score????

If you have credit card debt, clean it up. But don%26#039;t close all of the accounts because you could run into the problem of having too clean of a slate. Ideally you want maybe one or two credit cards that you use, but pay off the balance every month. Do you have any other open accounts? Even medical bill can effect your credit. While you clean up your credit, save your money, as much as possible for your down payment.

How to raise my credit score????

You don%26#039;t need a credit score to get a mortgage. What you DO need is a good down payent, pay your rent ontime (or better yet, early) for the next couple of years, and use a lender that does manual underwriting and doesn%26#039;t rely solely on a FICO score.

How to raise my credit score????

Don%26#039;t allow your credit cards to be any more than 50% of the available balance- in other words, if your limit is $3000, make sure you keep it below $1500. Pay everything religiously. Don%26#039;t apply for any credit at all. If you have outstanding collections, pay them, even if they are old.

Good luck.

How to raise my credit score????

You dont need good credit for a house. What you should do is pay everything on time for a year. Then go through a government program that offer grants for first time home buyers. They also have rent to own options out there. The housing market is a mess. So banks are doing anything to get rid of homes

How to raise my credit score????

I would focus on those negative or open accounts then worry about establishing credit. The last thing you want to do is keep adding inquries on your credit because of your lack of responsiblity a few years ago. And if you thinking about getting a house...besides credit you need to make sure you have long employment and income.