Credit Repair

what is the best way to repair my credit score?

what is the best way to repair my credit score , i ran into a few problems last year and my credit score dropped , but now i have not one outstanding bill i just sold a home and payed off a 400,000 Mortgage i have zero bills and i just took out a few credit card to start the re buliding of my score , is there any othere way to up my score faster

Public Comments

1. really, the only way to do that is to pay bills on or before there do and if you buy like a car or couch etc... you make a bigger down payment than the min. is
2. WTF. well just pay you bills off and pay them on time
3. The best way is to first obtain a copy of your credit report. The governement has a website where everyone can obtain a free copy of their credit report once a year. The website is annualcreditreport.com. Once you obtain your report, dispute the majority of low ratings (R-2, R-3, R-5, R-6, R-7, R-8, R-9) with all three credit bureaus by contacting each one (TransUnion, Equifax and Experian) via letter. The bureaus have 30 days to respond - with millions of dispute letters reaching them, they never have time to fully investigate your claims within the 30 days, thus they have to remove the negative ratings. In less than 60 days my credit score went from 540 to 720. The highest score you can have is 850. Tip: DO NOT DISPUTE EVERY NEGATIVE THING ON YOUR CREDIT REPORT! ONLY THE MAJORITY OF NEGATIVE THINGS....I WARNED YOU!
4. Aja is correct. Something else I have learned is the "triple bank AAA trick". It involves installment credit, which has the highest ratings by points (any type of loan). What you do is take out a loan for $1000 or more (the bigger, the better). If you cannot get approved, the bank usually have 'collatoral" loans, where you give them at least half. Take that $1000 to Bank #2 and get the same thing. Repeat one more time with Bank #3. At the end, you should have $1000, borrowed from Bank #3. Take 3 months to make payments on all three with the $1000 you have from Bank #3. After 3 months, pay each one back what's owed. At the end, you should be out just the interest, usually like $30 bucks or so. I did this and raised my score 120 points in three months! Combine this with Aja's suggestion and you are back in action!
5. Ok, first start with paying off debts like credit cards. I've found some good information here too... http://debt.knowledged.info/credit_card.html Hope that helps.