How should I go about raising my credit rating?
Isendar asked:
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!
Claudia
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!
Claudia
