Advice for repairing credit.?

2012-01-13 3:12 pm

Hi I'm 23 and trying to repair my credit. My goal is to be able to put a down payment on a house in 2 yrs. Right now I am working part time bringing in about $850/mth. Must pay bills are $450 not including groceries.
I have finally paid off my credit card with steady payments over the last 6 mth (will this improve my score)
I have probably $8,000 in debt. No loans of any kind though. I would really appreciate and strategies and steps, as of right now I couldn't even be approved to get a rental car.

Thanks for the help

更新1:

I don't plan on going in on the house alone. My partner makes quite a bit more than I do. He and I are saving together. I don't have and cards to use. The one I had is a charged off account. I haven't applied for anymore

回答 (4)

[匿名]

2012-01-13 3:19 pm

✔ 最佳答案

How to get great credit.
Use your cards and pay in full each month.
ex: use one for gas and one for food and pay the full amount when you get the bill.
Carrying balances can seriously reduce credit. Never do it again.

Get books from your bookstore or library.
Look for books by authors like:
Suze Orman. She has a good one called "Young Fabulous and Broke".

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用戶60512

2012-01-13 11:40 pm

The Suze Orman books are a good place to look for help. Pay off that $8,000 right away, that is your first step.

Wait a minute. You are making $850 and have fixed expenses of $450, leaving $400 for discretionary spending/food/savings. Assuming you were able to save $200 per month, you'd only have $2,400 in two years, which isn't nearly enough to put down on a house.

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[匿名]

2012-01-14 4:58 am

I have no experience with debt consolidation services but I think you should try. You can pay for less than the amount that you owe by about 10% to 40%. But before engaging in one, research first so you will avoid scams and stuff.

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[匿名]

2012-01-13 11:37 pm

Only time can improve your credit scores.
Keep on doing what you are doing.
Pay your bills on time.
Keep your debt/available credit ratio below 30%
Don't apply for any new credit

Good luck

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