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What makes your credit score go up?


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2005-11-08 16:01:48
2005-11-08 16:01:48

Credit scores look at all the typical things. Do you have any credit accounts? You gotta have credit to have a credit score. How long have you had credit? What is your credit history like? Do you pay on-time or do you have significant delinquencies and defaults? A credit report is, in the simplest of terms, a history of how you have managed debt in the past. If that history is positive you will have a high score. If you have a history of not managing debt well, your score will reflect that. Aside from the simplicities, there are tips and tricks to help raise scores. But those won't work if you don't understand and practice the basics; namely, to borrow, then pay back, on time.


Related Questions

That totally depends on what your credit score is to start with.

How long does it take for credit score to go up in rating after paying off debt?

A credit score is a measurement of factors in your credit history. It is a general score of how well you can manage and repay your debts. Although there are several different scoring standards, your payment history makes up a significant portion of your score.

You credit score will not go up if you pay your Chapter 13 off early. Your credit score is not directly tied to every step of your bankruptcy.

Payment history is the biggest piece of the pie that makes up your credit score. On the same angle, the amount of money you owe makes up the 2nd largest margain of your credit score. Length of credit history, new credit and types of credit used finalize the score with the other 2 mentioned. Credit scores are generated by plugging the data from your credit report into software that analyzes it and cranks out a number. The three major credit reporting agencies don't necessarily use the same scoring software, so don't be surprised if you discover that the credit scores they generate for you are different.

35% Payment History 30 % Amounts Owed 15% Length of Credit History 10 %Types of Credit used 10% New Credit for more information go to

Yes, a Bankruptcy is one of the most damaging accounts which can show up on a credit report. The good news is that after 2 years, the account doesn't impact your credit score as much. Once it is deleted, your credit score is improved.

Yes, closing old accounts negatively impacts your credit score because it shortens your length of history which makes up 15% of your credit score. Keep you old credit cards open, even if you don't use them.

Your payment history makes up 35 percent of your 3 digit fico score. Your debt to income ratio makes up 30 percent of your fico score. 15 percent is based on length of credit history. 10 percent is based on new credit and the other 10 percent is based on the types of credit used.

When I had a collection deleted from my credit it made my score go up. It will take several weeks.

I have a credit score of 711 but limited credit history, which means not much experience so I'll need to build up credit. 711 is on the good range but you should also remember to maintain it or build it up. You wouldn't want your score to go down.

You can go to to get a 2010 credit report and credit score. This is free but you have to sign up for the trial. You can then cancel the trial before it is over and you will not have to pay anything. You can also go to

paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.

How to clean up your credit report

High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to try to be below 30% of your line of credit.

More than likely if you file for bankruptcy your credit score will go down. They report the filings for up to seven years and sometimes ten.

PAY YOUR F-ING BILLS! If you have no credit>> Get a credit card, car loan, or any type on loan AND PAY IT! coming from a person w/ an 798 score!

According to the FICO the highest possible credit score you can obtain is 850, but if you use another credit scoring formula Vantage Score the credit rating can go all the way up to 990. FICO is the mostly widely used

credit scores are not likely to go up simply by paying your balances. But it will help your ratio when your credit is pulled. I do know that scores go down with late payments, credit checks, bankruptcy,

Lowering a credit card's limit may cause a credit score to go up,down, or remain the same. Factors that impact a credit score can include: the amount a credit limit is reduced, on-time payments, new accounts being opened and if balances are paid down or increased.

How many points your credit score will go up after bankruptcy comes off, will depend on where it was beforehand. Your credit score may improve drastically into the 600's, or it may still be low.

credit score is not based on age but how you handle your credit....handling your credit well and your score goes up.....handle your credit bad, as in having a lot of debt and not paying on time brings your score down.

Your credit score is only affected when you volunteer the credit check. When you apply for a credit card, the credit check will show up on your score. However, if you get a pre-approved credit card, the company that sent you the card has already done the check, so that will not show up and affect your score.

There are a number of ways that an individual can build their credit score. Typically, an individual would build up their credit score by paying off credit cards on time and by not missing any payments.

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