Fair credit?
by Author on Monday, March 22nd, 2010 | 5 Comments
You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Fair credit?”.
Advertisement
-
Amp Bad Credit bank of america Banks Blog Blog Archive Buy A House Buy House cards Cards Credit Credit Application Credit Card Credit Card Application Credit Card Companies Credit Card Company credit card debt Credit Card Finder credit card offer credit cards Credit Debt Credit Help credit history Credit Report Credit Score debit card Debit Cards Discover Card Fico Score Finance Insurance Interest Rate job loans mail Mastercard Money Mortgage People Prepaid Card Prepaid Cards Raquo rewards score Score Card Visa Card
WP Cumulus Flash tag cloud by Roy Tanck requires Flash Player 9 or better.
-
Recent Posts
Always remember that notwithstanding unemployment, you can make token payments every month after intimating the bank or other creditor about the employment situation and make up for the deficiency as soon as employment condition improves or other money becomes available. The token payments despite the difficult time signifies your determination to honour your commitments and acts as a spur to attract fresh job or opportunity to earn. Often these are tests of Providence to measure you up and you need to rise to the occasion. Hard times will soon pass for those who do not surrender to them.
There is no need to take another loan to improve your credit rating score.Borrow only when absolutely essential. Build up a strong savings pattern instead.
Set aside a fixed small amount every pay day from your earnings and build up a Reserve Fund to meet sudden demands for cash. This serves for two purposes: Accumulation of regular savings and tying you up from splurge spending.
The Credit Score can be improved only with time and you need to show credit activity for it to move up or down.
If you paid all your bills ‘in full’, then the FICO system has nothing to rate as no credit is being used.
The fact that you get a loan will not ‘boost’ your Credit Score. Rather it is your ‘on-time’ payments, amount of the credit line, type of credit line, time on the job, reported salary, that will raise your score.
A Credit Score of ’650′ is fair. The average is 750 so you are not far from having excellent credit.
It is important to build a ‘reserve fund’ in a savings account so that you can, at the very least, make the minimum payment on your credit accounts if there should come a time you experience a hic-up in your income.
Lay-away, though it is a good method of getting the items you would like, does not do much for your Credit Score.
pay all bils on time…and dont spend too much with ur credit card..ur credit is OK
All things considered 650 is not bad. You are in the average range and can ussualy qualify for most types of loans around prime.
How fast it rises will depend on why your score was lower to being with. If theonly thing dragging you down is to much debt it could improve almost as soon as you pay it off. If you have collections or bankruptcy still on your report it could take several years to get your score up above 700. A credit score is like fingerprint, each persons is slightly different and you could not judge it without seeing the entire report.
Visit http://www.cheap-credit-cards.org for more information
All the best