Bad Credit Agency

i need to raise my credit score atleast 4 - 10 points. Any ideas?

I need 4 points to qualify for FHA minimum, i have nothing on bad on my credit besides medicals which is what drove my score down. however, i need to raise my score just a tad. i figured since i paid the car and my motorcycle on time it would raise me in the last 2 months, but its still standing steady at 536. any ideas what i can do to boost my credit score? maybe get a $200 loan and pay it off in 2 months or so?

Public Comments

1. The biggest factors are Payments Owed and Payment History. So it sounds like you are paying on time. Now, reduce your balances for a few months -- i.e. use your cards less to pay for things or pay off your balance 2x per month instead of just once [just make payments each payday]. If you want to learn more watch Lesson 6 on our site which addresses techniques for higher credit scores. http://www.videocreditscore.com
2. the last thing you want to do at this time is close an account.that will drop your score.
3. Why not pay some on the Medical Bills? That would show less debt, and should improve your score. It may not reflect immediately, remember most credit bureaus are reported to Quarterly- so things may not change in the period of a month or two. You'll need to give it at least 4 months. Also, make sure that there aren't any mistakes on your credit report. If there are, then you can have them fixed, and this should improve your score too. I don't know about getting a loan for $200.00. I don't know of any bank that will loan that small amount of money. If you don't have a credit card- then apply for an Orchard Bank Secured Credit Card. You can send them $200.00 and use the credit card to show you are credit worthy. Good luck!
4. medical bills sucks, but it may be your fastest way to score higher, call them up and settle for the amount owed, BUT, BUT BUT heres a clincher, will they delete them if you paid it off. this must be in writing otherwise you wasted money, you paid for a bad account and it will stay a bad account. one of these should boost your score at least 40+ Another way would be get a copy of your credit from all credit bureaus, (trans, equifax, experian you can find them in the internet) you get a free copy per year. go through each account that is older than 7 years old they can be deleted with a phone call or a dispute letter, your mortgage lender should be able to help you with rescoring your credit score within 48 hours (say the magic words, "RAPID RESCORE). if youre lender does not know the magic words, you need to find another.
5. Right now, call up your credit card companies and ask them to raise your credit limits. You need your balance to be less than half of your credit limit. Doing that will raise your scores.