S
Sean H.
Been making larger payments to credit cards recently to avoid fees & free up some credit, as well as lower credit usage.
Money 101
Community
About
Help
Welcome to SaverLife
Been making larger payments to credit cards recently to avoid fees & free up some credit, as well as lower credit usage.
That's a great strategy. Staying on top of your credit is very important.
your score will go up
but don't open too many too close together
My credit score went down over 100 points. I opened a checking account, which counted as an inquiry, and a new credit card, counted as another inquiry. How is that possible to drop over 100 points?
It could happen, but after a few weeks it will start getting back up. Just avoid opening new accounts.
I've learned to stay on top of my credit report.
Keep in mind that different types of credit are weighed differently as the SaverLife articles have been saying.
I ran a simulation of getting a car loan and it said my credit score would go up. OTOH you don't want to rack up more debt than you can handle either.
I looked into a personal loan from my long time bank and learned they wouldn't consider it without a 720 TransUnion and 2 years of good payment history. I'm thinking some other banks or credit unions may not be as strict.
keep chipping away - pay more than the minimum
Paying down credit card debt is in the works for me too! However at the moment I’m practicing maintaining a specific balance to hold my credit score steady. Unfortunately I still overuse it but pay off all that I swipe by the end of the month.
good idea
Yes, raising your credit score on your own is tedious, but with dedication it’s completely possible and liberating
You are all correct, good advice!
I got a secured credit card and my credit score went up tremendously
I finally deleted my credit cards off of Amazon and Paypal. I need to do a no spend month for June. Wish me luck! LOL
3 out of 4 cardholders who ask for a lower interest rate get it. Here is a script for what to say when calling to ask for a lower APR: https://www.creditcards.com/credit-card-news/script-negotiate-better-credit-card-deal-1267/
Good Luck Ronda H! Don't spend! LOL
Hello
How do you mean aggressive?
Good move!