Eric Z asked:
I have never had a line of credit. With this said, the only thing on my credit report is negetive. The amount showed that I owe is $2,201(12 accounts) in debts. I just recently paid off $1,400 (10 accounts). I have about $800 (2 accounts) left to pay. With my fathers help I opened a credit card in my name and he also verified me as an authorized user on one of his credit cards. Right now 2 of the credit bureau’s don’t even give me a score, the other one gives me a 458. My question is how long will it take if I make all my payments on time for my credit to go up about 100 points? Also my father is willing to co- sign for a personal loan to help my credit. Should I do that? or is that to many lines of credit?
Lucille
I have never had a line of credit. With this said, the only thing on my credit report is negetive. The amount showed that I owe is $2,201(12 accounts) in debts. I just recently paid off $1,400 (10 accounts). I have about $800 (2 accounts) left to pay. With my fathers help I opened a credit card in my name and he also verified me as an authorized user on one of his credit cards. Right now 2 of the credit bureau’s don’t even give me a score, the other one gives me a 458. My question is how long will it take if I make all my payments on time for my credit to go up about 100 points? Also my father is willing to co- sign for a personal loan to help my credit. Should I do that? or is that to many lines of credit?
Lucille
#1 by slimthing on July 31, 2010 - 4:32 am
Edith
just continue to make payments. i don think you should take out a loan. im in the same boat as you
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#2 by the24 on July 31, 2010 - 3:00 pm
Tonya
well your credit score is poor right now and the only way to make it higher is to pay everything on time and have no debt….also try some store credit cards…they are high interest so watch out only get them if you can pay them off on time….credit history is like a life record if they think your worthy they will boot ur score up if you slack on payments then your credit score dies down….anyway it will take you a while to put your credit score up…and theres nothing wrong in cosigning but if you miss any payments and your dad is forced to pay for you your credit score is going to suffer…..
try getting out of debt and staying out of it…and practice good payment habits…hope you have a steady base of income….
#3 by daggerdvm on August 2, 2010 - 4:56 pm
Marcus
if you payed the rest of your debt off all at once your credit would go up 100 points