Raising Credit Score – which is best?

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This topic contains 4 replies, has 5 voices, and was last updated by  Anonymous 8 years ago.

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  • #205130


    Which is best for raising credit:

    If monthly payment is $100:
    1.) Paying $150 on time
    2.) Paying $100 every 2 weeks (to be “ahead”)
    3.) Paying $100 on time, then $50 every week between payments.

    I guess that I’m asking if there is a way that repairs credit fastest.


  • #267259


    Pay online if you can. No missed mail.

    My plan for you, pay minimum for a full year, then start adding more to the minimum.

    My story: I was a passenger on a airplane with a carryover stop, where some passengers leave, more depart. While waiting for the plane to refuel, exchange the bags and such, the next plane over was getting US mail loaded upon. The convayer was going, one tray stopped, guy kept loading, two trays collide, both fall over, mail slips out of one and goes flying in different directions of the tarmac. Nobody goes after the mail that flies furthest away.

  • #275162


    as long as you are making the mininum payment. it won’t matter how you pay it. Paying it off at once saves u interest charges which is probably the best way to do this.

  • #276358


    I feel/believe I would pay the $150 on time or before. For instance if it was a credit card you should pay as soon as you get the statement or at least 12 days before it is due.

    If it is a loan a straight simple loan and you only get charge on what is owed and there is no penalty for early payoff i would do option 2 most definitely.

  • #283285



    Any extra money you pay above the minimum will accelerate paying off your debt. All three options you gave are better than paying only $100. I’m not sure what your balance is, but I ran the numbers using $2,500 at 18.9%.

    Option 1 pays $50 extra and will reduce the time to pay off from 10 years, 6 months to 1 year, 8 months. It also saves you $1,109 in interest.

    Option 2 basically pays an extra $100 per month. This reduces your time to pay off to 1 year, 3 months and saves you $1,226 in interest.

    Option 3 is basically paying and extra $150 per month. This reduces your pay off time to just 11 months and saves you $1,290 in interest.

    As I’m sure you’ve guessed, the more you pay above minimum, the more you save and the faster you pay off debt, which will help with your score.

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