I want to improve my poor credit score- HELP!!!!!!!!?
My credit history is almost 11 years-old. It was good until 2004 when I couldn't make payments on the 8 credit cards I had. As a result, ALL my credit card accts were closed by the companies and charged off. However, I started paying off my debts in fall 2006 (I settled with the companies). I have 2 credit cards left to pay off. I recently tried to apply for a credit card and was denied because, according to the people, I had no activity on my credit cards for the last couple years. Several months ago, I applied for a Discover cc via Sam's Club, but was offered their own card with a 0.00 limit (I can only use it in their warehouses and Wal-Mart).
My score has gone up some, but not enough to be at least fair or good. What else can I do to improve my score?!. I also have a cell phone account (6 mos. old) and student loans (almost 2 yrs.), both of which I have been paying on time 
I want to be able to buy a new car in about a year.
Please serious inquiries only!!!!!!
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Unfortunately, when your credit gets to that bad, it’s all about time, you have to wait for the years to roll by while paying your debts off.
The important thing is that you were offered that new credit card and use it responsibly now as a part of rebuilding your credit while time goes by.
Eventually, your bad credit will fall off your report and your score will improve.
Just be patient, responsible, and good luck.
Check your credit report for old items that can be deleted. (anything over 7 years old)
why on earth would you want to buy a car on credit, it does not sound like you are responsible enough to do that. save the money in a seperate bank account and go buy a beater for cash. credit scores don’t mean squat if you get out of that cycle. cash cash cash….daveramsey.com…..you really need to look into his message.
To Repair credit score
Your credit score is based mostly on:
1. Length of credit history
2. Payment history.
3. Ratio of credit used to available credit.
4. Number of credit inquiries you authorized.
If you cancel your card, you’ll be hurting your credit ratio. (#3).
You want to deliberately keep your oldest credit card open, even if you never use it.
You want to always pay the minimums of each loan on time every month.
You want to keep your available credit high, but actually only have balances equalinig 25% or less.
You want to keep your credit inquiries to a minimum. Try for no more than 3 or 4 per year for any type of loans.
You do these things and your credit score will quickly soar into the 700s.
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