Repair Credit Report Help
credit repair question?
is there a service out there that will allow me to pull my credit report and tell me if i pay XX my score will go up this much or if i open up a credit card my score will go up this much or if i lower my revolving balance to xxx my score will go up this much??
Public Comments
- Your best bet is to first stop spending until you get caught up. Then, put all available funds on your credit card. The services out there cost you even more money and really connot do any more than you paying the debt yourself. Good luck.
- what your score boils down to is a income to debt ratio, you want your score to go up then quuit spending or charging them pay off yoyr bills ,car notes and credit cards and don't do any credit inquries for a year, so don't apply to any credit cards offers or car loans all that has a draw on your credit score but once you pay off your bills your score will go up.
- Unfortunately what you're looking for does not really exist, at least if it does, I would be highly suspicious of someone selling it. Your credit score is the result of a mix of financial data about you. Your income, spending habits, total debt, available debt and payment history all get run through a formula to determine the end score. This formula is a closely guarded secret of the credit companies, so I doubt you'll ever see a legitimate document that states exactly what the formula is. The good news is that it is possible to get a general idea as to how much each piece of data is weighted in the formula, so you can definitely do something to improve your score. In fact, I just went through some of this myself in the hopes of boosting my score before applying for a home loan. You can read about it here, if interested: http://simpledebtfreefinance.com/5-ways-to-improve-your-credit-score I basically pulled my credit report from the 3 bureaus, and compiled a list of helpful tips they provided in relation to my score in general. Cheers! George. -=-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-=-=- http://SimpleDebtFreeFinance.com
- George is correct. Your credit score is made up from a proprietory formula based on FICO. There are a lot of factors used to figure it out. Your best bet is to just understand what those factors are and try to follow a path that doesn't trigger them. Go to http://www.myfico.com and check out their educational pages, as they describe in detail how your score is calculated.
