paying debt off does not necessarily increase your credit score. Your debt ratio on your account balance should not be more than 10%-20% at all times. Set up automatic paymets and let the system work as it was designed to do. Having high balances, ($1500 credit card with $1300 on it, example) drops your scores. Paying accounts completely off does not give you great credit. You have to develop a payment history. Keep balances low on revolving accounts, make payments on time. Dont run your credit as hard inquiries hurt your score. Good credit has to be kept up with and it doesnt take much to let it go bad. It will stick with you for on averavge 7 years or longer.
by Tyrone - 19 hours ago
The average score in the U.S. is 678. Good is considered to be between 720-749; excellent is above that. To find out more about repairing your credit check out: http://www.all-things-conflict-resolution-and-adr.com/Negotiating-Debt-and-Credit-Scores-Part-I.html
by Marsha Ostrer - 19 hours ago
very bad -- the industry considers it generally unworthily of any unsecured credit. Cleaning up any errors, getting current on any past dues, or getting credit cards below 50% should be enough to get you above 620 -- the minimum for getting unsecured credit. A good score, 700-ish, isn't likely. Time is the best medicine for that.
by MVD34 - 19 hours ago
603 is like having a D on your exam. Not good. There is no *fast* way to improve your credit score. It takes time. You have to re establish credit with either a credit card or loan that reports your activity to the credit bureaus. What is this *small high interest* loan you have? If it is a payday loan, that isn't helping you one iota, since payday lenders do not report your payments to the credit bureaus. Anything that is past the 7.5 year time frame you should dispute and have removed from your report.
by Genuine Guidance - 19 hours ago
Very bad and it will take years to improve it. Only way is to pay off all debts and make new payments on time
by ? - 19 hours ago
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