- Centurion Member
- Posts: 119
- Joined: Tue Sep 18, 2012 6:18 pm
- Location: US
I agree that you should get an actually free copy of your credit report, knowing what is on it is very important. After that, use sites like credit sesamie, quizzle, and credit karma and the like to get credit scores for free. Some sites offer an in house algorithm that does a very good job, other sites actually pull a score from One of the bureaus. Remember there are hundreds of score models, and then multiple credit bureaus, each with different information on you. Your various FICO score models will create a different score at each of the three bureaus in the vast majority of cases. There are also very useful non FICO scores such as vantage. These scores weight different areas more or less heavily than others, and in some cases use different time frames.
I can't give you specific advice on what to do, but what I would do once I have my report down and my scores down, is set a goal. Lets say FICO '08 660, which would put you above the US average FICO score. The time to get there will be 18-24 months. In those 18-24 months, I will pay all of my debts on time, not apply for any additional types of credit (loans, payday advances,credit cards, student loans etc), have all balances paid off in full each month by the end of my 18 month window thereby lowering my card utilization, and not close any of my oldest 60% of accounts. Maybe I add a few other items in there each month that are more tactical but in the end these are the major goals I need to accomplish to get to an above average FICO '08 score.
Maybe in the mean time, I might practice marketable skill x or y in my free time, lets say web design or basic html or php programming. The skill I would practice would be useful in any job, and help me develop my worth as an employee. Even if I am not a programmer, understanding basic logic would help me see the implementation side of many things.
If you set the goal and make it very specific, break it down into steps, have it be measurable, and have a time constraint, you will have the power to meet your goal if you choose to.
Wish you luck!