Best Answer: The only way to build credit is to have credit and use it wisely.
If you have a credit card, use it for everyday purchases like gas and groceries, being careful not to exceed 40% of your limit in any given month. Then pay it off before the due date in full. Keep doing this for several months and your score will increase substantially.
Raising a credit score fast never happens but here are somethings that you can do to help improve it.
- Pay down your credit card balances. If you have a $1000 credit card limit you are ONLY suppose to charge 250. That is it. Anything over that will have a negitive effect on your credit score.
- Have things in collect ect? Pay them off
- Get your
credit report from all three credit companies and dispute any negative item. Do not get in detail of why or what happened. just have them look into things.
- If your credit report shows late payments on credit cards from over two years ago. DISPUTE IT! The credit card companies have to reply within 30 days to the credit reporting companies. Most will not reply and the negitive/late activity will be removed.
- Depending on how much debt you already have. taking out a new credit card is not always the best answer and can lower your score.
your best bet, it to work with your credit reports and get the items changed and fixed!
It is not a quick process by any means.
The Article below may help you understand how they score you!