General Question

Popeye's avatar

How to increase my credit score?

Asked by Popeye (4points) November 16th, 2009

I use my cards and pay them off on time, and for some reason my credit score dropped from last year. I do not have any problems or any unpaid bills in the past. I have checked my credit…

Observing members: 0 Composing members: 0

8 Answers

ItalianPrincess1217's avatar

Have you changed jobs? Moved? Opened any new lines of credit? Pulled credit reports? All these things can lower your score.

shadimirza's avatar

I heard that if you pay your bills on time but leave a tiny bit on your credit card to accrue interest, it will raise your score over time. You’ll get hit with tiny bits of interest, but it won’t break the bank or anything if you accrue interest on a $10 balance.

CMaz's avatar

Screw your credit score. Cut up your cards.
Cash transactions only. If you do not have the money available, then do not buy it.

Learn to save, you will find that your credit score will be just fine.

Lightlyseared's avatar

Use your credit card but don’t pay the whole bill. Let the total accumulate for a few months and then pay off the balance. Credit card companies like people who pay but they also like people who pay some interest as well.

@ChazMaz You ever tried to buy a house by just saving up for it? Where I live a 3 bedroom house costs anything from a half a million pounds upwards.

CMaz's avatar

@Lightlyseared – Yes. I did not go that far figuring that most would understand that cars and houses are usually purchased with credit in the form of a loan.

But you do not need credit cards in order to qualify for a house or a car.

JLeslie's avatar

I disgaree with @Lightlyseared. I would never suggest paying only part of a bill, the interest is criminal. Part of your credit score is how much balance you have compared to how much open credit you have as a percentage. Even if you pay your credit card bills off completely every month, which is what my husband and I do, there is still a “balance” before you pay the bill. My credit score is around 760 last I looked and my husbands is above 800, we have NEVER paid a minimum, always the total credit card bill. Here is a wikipedia link halfway down the page it tells you the breakdown of how the score is determined.

ItalianPrincess1217's avatar

@Popeye Pssst…Welcome to Fluther. Lurve. But could ya maybe toss some great answer points our way? I think all these answers are pretty good and deserve a point or two. Don’t you?? ;)

Answer this question




to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
Knowledge Networking @ Fluther