Question by : What is a good and bad credit score range?
I am sixteen and my mother always talks about how she don’t have a good credit score. She say you get good credit by paying your bills on time. She have to pay more money to buy things and sometimes she can’t even buy things because of her credit. I don’t want to be like that. I am going to want to et whatever i want whenever i want it.
Answer by Go with the flow Your mom is making too many loans and depending on credit too much.
(she says she has to pay more for things).
How not to be like her:
Save up for the things you want, then… buy them.
Good things come to those that wait.
Your mom also does not have an Emergency Savings Fund.
She is living paycheck to paycheck. Very dangerous way to live.
In an ideal world, and adult should have 6 months of living expenses put away in savings.
Question by G$ : What is the best and quickest way to improve your credit score?
My credit score is just above the mid 550′s. I made some mistakes with credit cards, and they have gone to collection companies (6 cards). I am in the process of negotiating each of them down and paying them off, but my score will not go up by this since these accounts were written off. What is the best and quickest way to improve my credit score? Best thing is, my car will be paid off in about 7 payments…
Answer by Mary Once the cards are written off and you complete your car payments, your score will begin to rise again. Keep at it.
Question by Natalee W: How much can 2 years of Perfect payments on my Auto loan raise my Credit Score?
I’ve had my car for 2 years now and its been set on auto draft since day one so its always been paid on time without an issue. How much does this raise my credit score? I also have a small credit card that has also been paid on time for 2 years now. I’ve always paid at least 5 times the minimum payment, never been over my limit, and always pay at least 2 weeks early. How much can this boost my credit score?
Answer by CreditRepair/TaxMan About 20-60 points. You also have to consider other factors like if there has been recent collection accounts, inquiries…etc.
If you pay more than the minimum payment it should have raised your score 80-100 points.
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Question by Lance: Better credit score if payed off immediately or if payed on time within the 12 months?
I recently bought a ring. Would I get a better credit score if I payed it off immediately or if I payed it on time with the 12 months interest free that I have?
Answer by SPIFIMAN1 Since you have it interest free for 12-months make the payments, payment history makes up a full 35% of your score.
Just be sure to pay it off a few days early because if you don’t you can get hit with the full amount of what the finance charges would have been.
Question by Colin B: What is a good credit score? Also, is the Experian Plus Score an accurate judgement of your credit score?
Is 712 a good credit score?
Answer by JOSH Yes experian generally have the lowest credit score of all the 3 of them. A good score is generally between 700-750, anything above 750 is excellent. Generally all the loan giver take average of 3 of them.