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Credit can report an account 7 years from the last date of payment. This important that you understand, if you want to increase your credit score. Remember, good credit is history is established with a proven record of making at least the minimum payments on time--by or before the due date, and staying within your credit limits. It is also best to be moderate in all your purchases and resisted the temptation of applying for more credit than you can handle. Here are the ways you can maintain a good credit history: 1. OPEN A CHECKING ACCOUNT, A SAVINGS ACCOUNT, OR BOTH. These do not begin your credit file, but may be checked as evidence that you have money and know how to manage it. Cancelled checks can be used to show you pay utility bills or rent regularly, a sign of reliability. 2. APPLY FOR A DEPARTMENT STORE CREDIT CARD. Repaying credit card bills on time is a plus in credit histories. 3. GET A SECURED CREDIT CARD. A secured credit card is a bank credit card backed by money you deposit in a bank account. If you don't pay off your credit card bill, the money in your account may be used to cover that debt. 4. IF YOU'RE TURNED DOWN FOR CREDIT, FIND OUT WHY. It's important to clear up any credit misunderstandings or mistakes, because a bad record can cloud your credit future. Your credit rating is important, so be sure credit bureau records are complete and accurate. You must have the proper knowledge in handling your credit affairs and need a great reference source e.g. Phil Turner's Book The Credit Bible. Everything You'll Ever Want To Know About Credit.

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17y ago

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Related Questions

How do you find out who you owe on your credit report to improve your credit score?

When you pull your credit report you will notice at the very last pages of this report your creditor informaiton. This includes the name if the creditor, address, and phone number.


Can a creditor remove collection accounts from my credit report?

Yes, a creditor can remove collection accounts from your credit report if they agree to do so or if there is an error in the reporting.


Can you be a creditor and only report on one company?

Yes. There are no laws stating that any creditor has to report to any more than one credit bureau (and the creditor is allowed to choose which one to report to).


Can you ask your creditor to report new balances to the credit bureau?

No.


Can a creditor report you to the credit bureau for 150?

Yes, they can report you for any amount they are owed.


What does HC mean on a credit report?

HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.


How do you remove charged off from your report?

Only the original creditor or the credit bureaus can remove a charge off from a credit report. You can negotiate to have them removed with the original creditor if they will let you. You can also dispute it to the credit bureaus and they will have 30 days to verify the listing or it must be removed from your credit report.


What if a creditor is not on your credit report but trying to collect a debt?

You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.


How long does a creditor have to update your credit report after a bill is paid?

Typically credit reports are updated monthly, but can take up to 90 days in some cases.


If your debt with a judgment against you has been sold can the judgment still be on your credit report from the original creditor effecting your credit report twice?

No, it's the same account and the new creditor is simply taking over the same rights as the original creditor.


May a creditor report the debt to a credit rating agency after the debt is time-barred?

Generally speaking, at some point the creditor is not going to spend the money to keep a deragatory on your credit report. In the case of Bankruptcy it stays on you credit report for 10 yeas. In the case of foreclosure it stays on your credit report for 7 years.


Can a collection agency remove debt from my credit report?

No, a collection agency cannot remove debt from your credit report. Only the credit bureaus or the original creditor can remove the debt from your credit report.