I sold my home in 2007, and paid all my credit card bills. Now, i only have 1 car loan, and im always on time, and double down on payments. The only problem is, i had a few late payments on my mortgage, when i had it.....but it was always under 30 days. Last time i checked... my credit score was 645. My question is.....if i continue to pay this car loan on time, and with double payments.....can i get my score back to the 700's? Again....i have NO DEBT, other than this car loan. Everything has been payed off. Never any bankrupcies, never any settlements....nothing. Just a few lates. Will this car loan get my credit score back on track?
1.When you paid the cc accounts did you close them? 2.You Might try a goodwill letter to the mortage lender asking for them to remove it. 3.If you closed long history accounts it will take awhile for your score to go up.
ok.... but this installment loan should be helping , right? I have been paying on time, and early, for 2 years now. I thought this would be helping my score. All of my 4 credit cards have been closed, or ripped up.
annualcreditreport.com Any good? If i check my report today with this website......will it lower my score?
No its ok to check i think it allows you to check for 30 days.Any account that is pos on time never any lates is good.
how quickly will my score rise with positive payments of this installment loan? Its 2 years and counting.
is this installment loan alone enough to rebuild my credit? Or should i go out and get a new credit card?
You can check your own credit score as much as you want and it will never affect your credit score. You'll also need more of a variety of credit to get your score to where you want it to be. One car loan won't be enough, so you'll need to show you can responsibly manage several credit cards as well.
You should have a mix of credit types. At least one or two major credit cards and one or two store cards. If you can reopen the accounts that would be best, because you would have the length of history. New accounts can actually hurt your score for a while until they age.
If you had American Express, apply for a Delta Sky Points insofar as it's the easiest approval and the back date to the date you began with American Express. You may also ask a friend or relative to add you as an authorized user to some aged accounts with low balances. That will bump your score tremendously. If that isn't feasible, a few companies including Apex Credit Services do this for a fee and it's legal. Otherwise, it's going to take a while. Getting a new card may prove difficult in this market with your score. Even if you do get approved, it will lower your history and thus, probably not raise your score.
