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XUL
OTD Janitor



Registered: 03/16/05
Posts: 28,261
Loc: America
Last seen: 4 years, 2 months
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Credit Score
#14087204 - 03/08/11 03:05 PM (12 years, 10 months ago) |
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Well, recently my score went up from 580 to 650.
This happened because a debt collection agency made an error and I caught it. Its a blessing and im thankfull for it.
Aparently 650 is average. Do you think its enough to take out a small loan?
What is the best way to improve your score even more?
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badchad
Mad Scientist

Registered: 03/02/05
Posts: 13,372
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Re: Credit Score [Re: XUL]
#14088771 - 03/08/11 08:13 PM (12 years, 10 months ago) |
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The only way you'll know about the loan is to apply. It probably depends heavily on how much you want to borrow, and how much you make.
Probably the best way to increase your score is get out of debt.
Look at the list of things making up your FICO score on wiki for some more hints.
http://en.wikipedia.org/wiki/Credit_score_%28United_States%29
-------------------- ...the whole experience is (and is as) a profound piece of knowledge. It is an indellible experience; it is forever known. I have known myself in a way I doubt I would have ever occurred except as it did. Smith, P. Bull. Menninger Clinic (1959) 23:20-27; p. 27. ...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely. Osmond, H. Annals, NY Acad Science (1957) 66:418-434; p.436
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humawebdesign
Stranger

Registered: 03/11/11
Posts: 45
Loc: India
Last seen: 12 years, 10 months
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Re: Credit Score [Re: badchad]
#14112774 - 03/13/11 01:34 AM (12 years, 10 months ago) |
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Its very simple to increase credit score. Just pay on time your EMI in full. Take loan as much as you can repay.
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XUL
OTD Janitor



Registered: 03/16/05
Posts: 28,261
Loc: America
Last seen: 4 years, 2 months
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Quote:
humawebdesign said: Its very simple to increase credit score. Just pay on time your EMI in full. Take loan as much as you can repay.
What is EMI?
Somone also told me that if I wanted to increase mys score I should use my credit card for small things like dates then pay it back quickly. And repeat. I wonder how well this would work?
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