Anonymous asked in Business & FinanceCredit · 1 month ago

How can I raise my Credit score ? ?

I have a credit score of 550, I had an account closed debt at 5000. max is 6000. Due to late payment. I try to pay it off but my APR is so high. The lowest I’ve had it was 3500 and it all added up to 5000!!! I’m a broke college student. I don’t think I’ll ever finish paying it off. I’ve tried applying for a credit card so I can get a balance transfer but I just get denied! Is there anything I can do ??? 

8 Answers

  • 1 week ago

    Discover secured card. And never ever be late again. Will take a couple of years.

  • 1 month ago

    I always pay my dues right time and date and keep in touch schedule date for repayment.

  • 1 month ago

    Claim bankruptcy and do not pay anything. Then you do not owe anything.  After a few years you will receive solicitations for decent credit cards.  If possible do the bankruptcy thing in front of a Jewish judge.

    Source(s): Donald Trump
  • 1 month ago

    Not by applying.  Applying makes your score worse.  You can make it a little better by not applying.  But for a big improvement, you'll need to pay what you owe and wait several years.

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  • 1 month ago

    First, stop applying for credit cards.  Doing that will ding your credit every time, and with that debt, you aren't going to be granted another credit card.  You WILL be able to pay it off, over time.  Don't panic.  Get a job, any job you can get.  Put everything that you can toward that debt.  In time, it will be paid off, plus interest.  And the interest will kill you so pay it off asap.  I know it is a bad time for getting a job but most states are starting to open.  Some have returned to a lockdown because of the irresponsible people who refuse to wear a mask and social distance and are reckless but, when you can get a job, get one.  Make paying off that debt your priority.  When it is paid off, your credit score will begin to improve.  When you qualify for another credit card, pay off all charges by the time due, and your score will improve.

    Source(s): Certified Paralegal, with 25+ years' experience.
  • 1 month ago

    NOW you're worried about it?

  • DW
    Lv 6
    1 month ago

    First - borrowing off one card to pay another overdue card isn't going to help your score. It'll make it worse, they're on to that trick. (It won't hurt if you use the transfer to pay off a debt that's in good standing, but it doesn't sound like yours is.)

    The best you can hope is to get that closed account back into good standing. Since you can't afford to pay off the whole thing right now, talk to the company and see if they're willing to agree to a repayment plan and interest rate that you can handle. Even just paying interest will help as long as you can stick to the schedule.

  • Anonymous
    1 month ago

    Discover secured card. And never ever be late again. Will take a few years.

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