student loans worth
Question
Raising credit score?
My score is 522 my husbands is 524. We both have student loans I have $5,000 worth he has $3000 worth both are in school status. We each have about 400$ in hospital bills so $800 total. We have a joint credit card with a balance of $600 ( only has a limit of $700) so its pretty much maxed. We are looking into a bigger apartment but afraid with our current status we would be denied (its an apartment complex). I am starting a part time job so I will be using my paychecks to pay off the credit card. How much will that help to raise our score? We don't plan on moving until November or December is it possible to raise our score enough to qualify for the apt by then.
3 months ago - 2 answers
Best Answer
Chosen by Asker
The high balance percentage you have on the card, 85%, is really going to hurt your score. You really need to get that balance down to 30%, or $200. Lower than that is even better. At least the minimum balance needs to be paid on time every month too. Those hospital bills, are the in collections? If so, that's really hurting too. Do what you can to resolve that. If not, don't worry about it as they won't show up on the credit report. And lastly, remember there is a 1 month delay between whatever you do and when it shows up on the report.
3 months ago
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Other Answers
I am currently waiting to hear from an apartment complex. My credit score is 515 for experian but higher for the other two. As long as you are not deliquent in payment on your education loans and no money owed on evictions you are pretty much squared. You income has to be three times the amount of your rent to qualify income wise. Don't discourage yourself. The larger payments are made will show a faster turnover in the positive for your credit score. Just continue to pay on time. Pay of as much as possible between now and the time you plan to apply. Remember to not add on any extra debt. Some people do not know that the credit bureaus are updated monthly. Check to see if everything is correct. On my report it had me as a student still (1999). I had paid my school $748 back in January 2009 and it was sent to the credit bureau as unpaid July 2009. False statements are placed on you credit report. Those are just 2 examples. Go find some discrepency. I guarantee you will. Find you and your husband a nice apartment for Christmas and enjoy. Good Luck.
by darcbeauti- 3 months ago