I am a newbie. I have a low fico score around 550 on Equifax. I need to get it up to 580 immediately to qualify for a home loan. Does anyone have a really quick way to get my score up because my other two bureaus are not reporting a score. Help!
If you already have credit cards, but have high balances, either pay them off or pay them down as much as possible. Your credit score can jump 50-100 points if you payoff all your credit cards.
Thanks, but I do not have any credit at all. This is why I don't have any scores on any of the bureaus except Equifax. Equifax is only reporting because an old collection account showed up from two year ago that is not even mine. I have to add some sort of credit...Thanks Anyway
Since you don't have any credit at all, I suggest you apply for a secured credit card that you will qualify for with no credit history. You might have to pay a higher fee up front, but in a short amount of time you will improve your credit and be eligible to qualify for a better card. I've looked around this site, and they have some good cards like the Capital One Guaranteed Secured card. Hope this helps.
If you are a US resident, consider the following Capital One cards for people new to credit: Points Rewards Card Cash Rewards Card Also, check out our "Fair Credit" and "Bad Credit" sections under the Credit Cards tab up above. Creditnet
If you don't mind buying some over-priced jewelry, Crown Jewelers gives credit to pretty much anyone who asks for it. The report to all three credit bureaus, and they don't pull your credit reports. So it's an easy way to get a tradeline with a $1,500 credit limit showing on your credit report.
No history on any of these accounts. It may generate a score but, will they yield 30 points and a score of 580 on the other two cra's. That's impossible to know but, I doubt it with the collections. New accounts generally don't accrue much in terms of positive points until they reach six months of age. Now, if it was a decent enough limit to put the delinquency at or below 33%, then it may work.
Due to your situation, and need for expedience, you might consider "purchasing" an authorized user account. This adds you to an existing account with a long and positive history. They do cost a bit, but it may be worth considering in your case. Apex is the best to tell you about them..
