Credit Building Advice

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    • #235592
      davefollmer
      Participant

      Okay so quick questions. I am looking to improve credit score, but then again who isnt.*

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      Right now I am at 571 from Equifax. I have 1 account in Collections which is paid off. I have 3 credit inquires in last 2 years.*

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      That is all I have. I am 23 and my credit file is pretty empty.*

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      I am never had a credit card, never had a loan of any sort. I have had to get a job and pay for everything.*

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      Now I am looking at getting a decent used car in the next few months. But not sure if I will be able to with a low scroe of 571.*

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      So if I was to get a department store Credit card or a regular credit card for $500 or so. And pay it off each month. Will that have much impact on my score? Or what could I do in order to make it look like like I am credit worthy or anything?

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      Currently my file looks something like that below.*

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      Payment History*Your history of paying bills on time.

      Very Good

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      Amount of Debt*Your total amount of outstanding debt.

      Poor

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      Length of Credit History*How long you’ve had credit.

      Poor

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      Amount of New Credit*Your recent credit history of new loans or applications

      Poor

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      Type of Credit*The various types of credit accounts that you have.

      Poor

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      Any advice on how to boost a scroe would be great. Thank you



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