Your Questions About Credit Rating http://bit.ly/nR8Ii5 Lisa asks…Credit Rating?I work as an env engineer in US, during my student time I raked so many bills in credit cards; I have started paying all of it , and intend to pay them of, however, I am 27 and planning to get settled by next year, I am sure with my credit rating (560), i wont be able to get loan, or any financing for even the basic stuff, will moving to Canada help? Though I know u wont have a credit when u move to a new country, however, no credit is always better than bad credit// Pls adviseCredit-Repair-Guy answers:Okay speaking from a person who has improved there credit. If your really really late on something and close to 7 yrs since you incurred the debt..dont pay it if you pay one red cent your in for another 7 yrs wait em out and if they want to settle make em play ball and pay little or nothing on it..also make them agree to remove it if your going to pay it off otherwise they will screw you by keeping it on your reportSharon asks…Credit rating?I have just checked my rating for the first time online and it says that I am not at the maximum credit rating which is 1500 points. I have had no financial difficulties in the past and have paid off any overdrawn money on time. I have one credit card which I got about 3 months ago, and one debit card which i'v been using for a few years. I am 23. Does anyone know if anything lower than full credit rating means you have been in trouble, or if you must work your way up to the highest level of credit rating?
I am located in the UK. My credit rating is actually 3 out of 5 while my credit score is something like 1100 points out of a possible 1500Credit-Repair-Guy answers:There are a number of factors which make up your credit score. Timeliness of payments, debt to income ratio, and length of credit. If you have only had a credit card for 3 months, then your length of credit score is probably lower than the maximum. That will rise over time as long as you have an open credit card. I think you need to have the account for 7 years before you can have the maximum score in that area.
Very few people attain the maximum credit score. Just make sure you don't miss any payments. Late payments will sink your score fast!John asks…credit rating?I live in Perth, Australia, I want to know what and how your credit rating is worked out.
Obviously it takes into account late payment of bill and outstanding debts and all that, but is there anything else that you might not think would be included? also, is there any way to check your credit rating without applying for something or paying a bank to do it???Credit-Repair-Guy answers:Credit rating is based on payments made on time and debts carried over from month to month. I was trying to find a web site but could not find any quickly while at workMandy asks…How does Credit rating agency evaluate individual credit? How can I start a Credit rating agency?How does Credit rating agency evaluate individual credit? How can I start a Credit rating agency?Credit-Repair-Guy answers:Here's a link to point you in a general directionRuth asks…How should I go about raising my credit rating?About 8 months ago, I applied for a credit card. I use it religiously about 3-5 times a month (usually about $20/month) so that I can raise my credit rating. I currently have Capital One so the APR is quite high (Mine's at 21.50% right now). I had 2 mishaps where I was unable to pay the $10 minimum payment. I owed over $400 (My credit limit) and now I just payed $100 of it. I'll be done paying it off by the end of this month. My question is: How can I A: repair the damage i've done to my credit and B: go about raising my rating?. I inquired with the 3 leading credit rating companies (Equifax and others) as to my credit rating and they all state that my credit rating was inconclusive. Does this have to do with the fact that I just established my credit 8 months ago or the fact that this year is the first year i'll be filing taxes with the IRS? I'm really clueless when it comes to credit and so are my parents. Any info would be great!Credit-Repair-Guy answers:I CAN SEE YOUR NEW TO THE CREDIT GAME! DON'T MISS ANYMORE PAYMENTS! GET A FEW MORE CREDIT ACCOUNTS, BUT DO NOT USE YOUR FULL CREDIT AMOUNT ON ANY OF THEM AND..... DON'T KEEP A ZERO BALANCE!!!! SHOWING YOU CAN OWE WITHOUT BEING UP TO YOU LIMIT ALONG WITH PAYING YOUR BILLS ON TIME WILL HELP BUILD YOU CREDIT. THEN YOUR SCORE WILL GROW! ................... AND DON'T TRY GETTING MORE CARDS AND NOT USING THEM THAT WILL ONLY TIE UP CREDIT. YOU HAVE TO USE CREDIT TO BUILD CREDIT!Powered by Yahoo! Answers