How can I fix my credit score?

[Chris S]

I had about $15,000 of debt in collections from between 5-8 years ago and i had just paid about $12,000 of it off over the last few months. my credit score went from a 548 to a 605. is there anyting i can do to help get my credit score higher? oh, by the way, i have no open credit now...

[Rick B]

Nope. Just wait for the old stuff to drop off. Use credit wisely. If you charge new items, pay them off as soon as the bill comes.

[blondefaith65]

keep paying you debit off and you credit score will go up.

[Diver Dude]

You should obtain a copy of your credit report to understand what is showing up. If you still have outstanding debt and no open lines of credit, you're likely showing up as having a very high ratio of debt to credit, which is a major negative factor. Closing all your credit cards and having no open lines of credit can hurt your score, especially if you have outstanding balances. You should try to keep your debt to credit line ratio below 30% -- you can always destroy the cards if you lack the self restraint to not use them.Other things that will help include having a positive payment history (which means having some credit to pay on, be it a credit card, car loan, mortgage, etc...), an increased history (more time with open accounts) and just being reliable with your money overall.

[thisMatter.com]

There are many things you can do to improve your score. Finish paying off the debt, then open some accounts and pay on time. To make sure that you pay on time, use automatic debit or electronic bill paying that pays your bill automatically every month or whatever period you choose. Most banks have this for their checking accounts nowadays. Your credit score mainly depends on your total debt in relation to your line of credit and on timely payments. There are other factors, also. The link below gives a very complete tutorial of everything that you can do to improve your score.

[Sharon]

Besides the obvious, keep paying, if you can be added to a credit card of a relative that has VERY GOOD credit and a low balance, less than 30% of the total credit on that card. You will get the benefit of their credit. This can raise your score quicker. There are glaring concerns with this so you and the other person have to have an agreement. Preferably in writing.

[Tiffany]

Call the collection companies and see if you can negociate what you owe.Pay all of your open, in good standing trade lines in 1/2 to lower your debt ratio.Your score should go up.