Best Answer: It'll take some time, but here's some tips.
1. Get your free credit report (not credit score). Depending what state you're in, you may be able to get a copy of your full report and score from one of the banks youused for your auto. If not go to annualcreditreport.com and review your report. 100 pts seems like a big jump for inquiries. Make sure there's nothing else on there that's worrisome.
2. You've already learned not to make a lot of inquiries. In the future ask to know how a person is qualified for a loan before asking if you are qualified. Make it clear you do not want your credit pulled. Once you know what banks are good, do all the credit pulls within 2 weeks. On things like housing loans, your credit should only get "dinged" once for that kind of inquiry because you're being an informed consumer.
3. Even if you pay off your cards, don't close them. Ficos look at how "old" your credit history is. If you close an old account, companies don't know how much of a risk you are in the long term.
4. If you have a good payment
history on a credit card or revolving line of credit, ask for an increase in your limit. Don't use it. You're rated on the percentage of money you use. ex if you have 3 cards with a total of $10,000 available, and you owe 5000, you've got a 50% debt rate. If you request an increase and your limit goes up to $15000 and don't use it, your debt rate is 33%
5. Use the credit you have, but use it sparingly. Companies have to tell the credit bureaus if you're making payments on time. If you don't use them at all, they have nothing to tell. Charge a tank of gas once in awhile. Better yet, charge it on a card that gets reward points for something.
6. Pay the accounts the day you make the charge. Companies report your balance whenever they feel like it. If you charge up $4000, keep it on the card for 2 weeks, but still pay it off before it's due, you likely won't end up paying interest, but the credit bureau will show that you've used more of your credit percentage as mentioned above.
Sara G · 7 years ago