In terms of buying a house ,I have almost no debt.How can I raise my score?

[Hedwig]

The best way to establish credit and raise your score is to start using credit--but using it wisely.

Get a few credit cards. At least one should be a bank card, like a MasterCard or Visa. A store card may be a good way to start if you don't have any credit. If you need to, get a secured card.

Whatever card you get, use less than 25% of the credit limit. Pay it off every month. Every few months you may want to carry a small balance and pay it off the next month.

You need to get your middle score to at least 620.

Good luck.

[Aftermath]

Hi


I was searching for the answer to my question and this thread is the closest I can find.



I was wondering what is the rationale behind carrying over a balance on a credit card. Is it to show we can pay bills, to show there is money to be made from us, or what???
I just have no clue and I want to be sure I am doing this correctly.

Once I started this credit repair odyssey, many people I know became amazingly instant credit repair experts. They have great credit. I listened to them and took bad advice before it dawned on me that I really knew nothing of this stuff when I had the fico I now dream of.


One of my friends now insists that it is best for fico scores to make a big purchase (like a tv) and take months to pay it off so fico can see "there is money to be made."
He is armed with a new degree in something or other financial, and adamant.

of course, he might also be one of those people talking out of a body part not located above the neck.

I'm not doing it; I am one of the people in subprime hell. Groceries are a major purchase.

Oops, I had a questions.

Can someone please tell me whether or not I should pay off the balance every month. Is this the best strategy to keep the scores going in the right direction? What about the big purchase suggestion.


I do not have any CC debt but I charge a little thing every month and pif. If I carried over, the interest would not have any long range effect as I am talking 20 to a 100 dollars.


Thanks in advance,

Aftermath

[drivel]

Originally Posted by Aftermath

Hi


I was searching for the answer to my question and this thread is the closest I can find.



I was wondering what is the rationale behind carrying over a balance on a credit card. Is it to show we can pay bills, to show there is money to be made from us, or what???
I just have no clue and I want to be sure I am doing this correctly.

Once I started this credit repair odyssey, many people I know became amazingly instant credit repair experts. They have great credit. I listened to them and took bad advice before it dawned on me that I really knew nothing of this stuff when I had the fico I now dream of.


One of my friends now insists that it is best for fico scores to make a big purchase (like a tv) and take months to pay it off so fico can see "there is money to be made."
He is armed with a new degree in something or other financial, and adamant.

of course, he might also be one of those people talking out of a body part not located above the neck.

I'm not doing it; I am one of the people in subprime hell. Groceries are a major purchase.

Oops, I had a questions.

Can someone please tell me whether or not I should pay off the balance every month. Is this the best strategy to keep the scores going in the right direction? What about the big purchase suggestion.


I do not have any CC debt but I charge a little thing every month and pif. If I carried over, the interest would not have any long range effect as I am talking 20 to a 100 dollars.


Thanks in advance,

Aftermath

I'd suggest paying off your balance every month. After all, why do you think you have the low scores to begin with?