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 chloejoanna
Joined: 20 May 2008
Posts: 37
16.05 Dollars($)
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 Posted: Thu Jun 05, 2008 7:12 am Post subject: Help! i dont know how my credit rating got so low? |
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I have just checked my credit file and found i have a credit score of 290 - it said the negative factor on this is mainly as several lenders have looked at my file in the past 3 months, a total of 11!
I recognise all of the companies who have searched me but one is showing four times and another is showing three times? The dates differ by a few days but they are the same companies?
I have applied for a lot of credit recently.
But i got declined for credit the first ever time i applied - so my score must have been bad then for some reason but now all these searches must have made it worse.
Is it possible to remove these searches? How can the credit score be improved? |
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harriepotts
Joined: 05 Jun 2008
Posts: 2
-0.12 Dollars($)
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| Posted: Thu Jun 05, 2008 7:23 am Post subject: |
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| i've heard that no credit is as bad as having a bad credit rating as you have not proven your ability to make repayments and handle credit responsibly. This could explain your low score. |
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cliff
Community Experts
Joined: 05 May 2008
Posts: 328
Location: Houston
75.44 Dollars($)
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| Posted: Thu Jun 05, 2008 5:32 pm Post subject: |
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Hi Chloe,
Have you rescently missed payments on credit cards?
_________________
Cliff Pape
Market Analyst
www.home-buddies.com |
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chloejoanna
Joined: 20 May 2008
Posts: 37
16.05 Dollars($)
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| Posted: Fri Jun 06, 2008 1:26 am Post subject: |
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Hi Cliff, no I haven't the applications that have been denied were for one. The only credit I have is my phone contract and a store card that i dont use.
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http://www.ezylet.co.uk/ the property rental network. |
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zasdalov
Guest
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| Posted: Fri Jun 06, 2008 2:52 am Post subject: bop-gasor |
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hi
all |
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Jeanette
Community Experts
Joined: 19 Oct 2007
Posts: 121
Location: 760 Lynhaven Parkway, suite 140 Virginia Beach, Virginia
36.24 Dollars($)
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| Posted: Fri Jun 06, 2008 4:47 am Post subject: |
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Hi CloeJoanna,
I would suggest that you get your credit report and go through it with a fine tooth comb. You can request a free credit report once a year from TransUnion-Equifax and Experian. If there is anything that you want to dispute, go online to Trans Union and the others and dispute the invalid items. There has to be a reason, vaild or otherwise, why your credit score is so low.
Good Luck,
Jeanette Smith
Mortgage Planner
Union Mortgage Group
www.umgva.com
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Life is like a bull grabit by the horn |
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cliff
Community Experts
Joined: 05 May 2008
Posts: 328
Location: Houston
75.44 Dollars($)
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| Posted: Fri Jun 06, 2008 12:04 pm Post subject: |
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Good advice Jeanette!  Also, Chloe what you want to do is use your store credit card. Charge a small amount and payoff half of what you charged at the end of every month.
When it comes to your credit it is note easy to understand. Most people believe it is better to payoff a credit card every month. This is a common myth; however, it is better to keep a running balance. Make sure NOT TO MAX OUT THE CREDIT CARD. Only charge a small amount and pay off only half. This really helps your credit!
Like Jeanette said take a look at your credit report if you have difficulty understanding it you can e-mail me directly and I will walk you through it. Also, another myth is that inquires lower your score what most people do not know is that the credit bureaus recently changed that rule and it does not affect your score that bad and your score will bounce right back up.
Cliff@home-buddies.com
_________________
Cliff Pape
Market Analyst
www.home-buddies.com |
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