I%26#039;m only 20 and I%26#039;m still a little clueless with the whole credit thing. I know, though, that I do have bad credit because I moved out on my own when I was 18 and got into a lot of debt. I%26#039;m obviously trying to pay everything off as fast as I can... but how can I rebuild my credit if no one is willing to give it?
What is the easiest way to improve my credit score?
If you already have debts, the quickest way to improve your score is to pay them off. Pay the minimums on all of them, then attack each debt one-at-a-time.
About 1/3 of your credit score is %26quot;debt-ratio%26quot;, which is the percentage of available credit that%26#039;s currently used. FICO likes to see this be low. So pay off the debt.
What is the easiest way to improve my credit score?
First you do need to pay that debt down on a regular schedule. Do you have an agreed repayment plan with your creditor(s)?
Then, get yourself a credit card, but pay off the entire balance every month. And don%26#039;t use more than 25% or so of your authorized maximum.
Good luck.
What is the easiest way to improve my credit score?
Keep charging and keep paying it off on time. Start charging everything.
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