What helps your credit score more?

Paying off collections, or opening a new line of credit? I have medical bills in collections ... but qualify for a credit card. Obviously both would help the best, but it will take me a while to pay it all off (thousands). Should I focus on paying it off first?

What helps your credit score more?

Get the credit card and use it wisely. Put items on it that you would normally use your debit card for, then pay it off when the bill comes. Keep a small balance on it, as that really helps your credit. Then, put your spare money to the collection accounts. Also, call the collection accounts and see what you could work out. Especially since they are medical related, they should work with you. Good luck!

What helps your credit score more?

Use the new credit card to pay off your collections - that way you do both :)

What helps your credit score more?

Pay on time regularly

What helps your credit score more?

paying off collections indeed.

per

What helps your credit score more?

As far as your credit score is concerned paying off collections would help more than opening a new line of credit. You are correct that both are important, but open collections really hurt your score.

What helps your credit score more?

get a credit card and pay off your collections. Then put the credit card someplace that is REALLY difficult to get to and only use it in an emergency situation until it is payed off that way you can build your credit..

What helps your credit score more?

Obviously you have a hard time handling your money, so getting a credit card would just increase the debt you%26#039;re in! So yes, pay off the debts you already have before you create a situation that will get you in more debt.

What helps your credit score more?

pay everything off first. Then you will be able to get more in loans and have a longer history.

What helps your credit score more?

credit is usually improved by seeing that a person can pay off the debt/credit in a reasonable amount of time and make those payments on time. I wouldn%26#039;t get anymore credit until you have payed what you owe off. I think it shows responsibility to creditors when you pay things and therefor raises your rating.

What helps your credit score more?

New line of credit.....plus you can learn ways to raise your score at http://www.mycreditadvise.com

What helps your credit score more?

definitely paying off debt, opening more credit is a warning sign to legitimate lenders.the more debt you have, the swifter the vultures circle

What helps your credit score more?

Yes focus on paying it off or making arrangements to pay and then keeping those arrangements. A credit report will state if a debit is paid or payment arrangements were made. So, it%26#039;ll just make u look better by u attempting to pay your debits. Good Luck!

What helps your credit score more?

You need to focus on earning more money. If you can pay your bills, then any other money you have should be put to work earning you a good return. Do you own a house? Do you know that $50 dollars a month increase on your mortgage will save you $1,000 to $2,000 in interest. This saving of expenses is the easiest way for a person to turn around their finances.

That Is why I advocate that a person get a property, and refinance it to pay off all their debts. Then prepay the principal with some of their income. The tax results is money in the bank and a good credit rating.

What helps your credit score more?

It really depends upon how old these collection accounts are. If they are a few years old and you are not in a financial situation where you will be applying for any types of loans, then I suggest leaving the bills in collections. Depending upon what state you live in, the statute of limitations limits the time the creditor has to legally sue you for the money. Go to http://www.creditinfocenter.com/rebuild/... to read more info. If they are relatively new, I suggest focusing on paying them off. You could contact the company to request a settlement. However, you have to be careful when doing this. Go to http://www.creditinfocenter.com/debt/set... for additional info. I think opening up a credit card could potentially get you into more trouble.