Question by Jennifer: Can I raise my credit score 100 points in 6 months?
I have about $ 1600 of debt on my credit report from old credit cards and medical bills that I will be paying off in a few days. Is it possible to raise my score 100 points in 6 months if I get a secured credit card and pay all my bills on time? Also, what else can I do to raise it quickly? Everything on my credit report is legit.
Fast Credit Repair
Best answer:
Answer by Judy
I read that if you have a maxed out card and pay it off it can increase your score by 100 points in 30 days.
Maxed out is when you use more than 75% of your avaialble credit limit.
That is how devastating carrying credit card balances is for your score – I wish more people knew this and started paying in full each month.
You never pay interest and can get those top scores – seems so darn easy.
Medical bills are one time items.
You can do a Pay on Delete on these if you pay in full.
You call up the creditor showing on your credit reports and request it.
Get it in writing – this is a must.
The item will be deleted from your credit reports.
You can also settle, but it will stay on your score and reports.
Your score will slowly start improving with a paid off item.
Offer 30 to 50% of the total bill – see if they bite.
Get it in writing if you can.
In this case – never send a personal check – send a certified check from your bank.
You cannot do a pay on delete with credit cards – revolving credit.
You can settle with them.
I do not like secured cards – not one bit.
Better idea : Secured loan.
Drop $ 500 into a 1 year cd, and make a secured 1 year loan against it at your bank.
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Never close your oldest credit card unless it has an annual fee.
Length of credit history is a whopping 15% of your fico.
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