Credit Score is not going up

Hi All

My situation. Have 4 credit cards 2 of them since 2001. Never Late on any of them. Never had

balance of more than 10% on any of them. Applied for credit card last year because buying a big

item from store.

Have a mortgage for 2 years. Never Late. eg 260K mortgage which still has balance of 255K.

One derogoratory item on my creidt report
Hosptial Ambulanace bill of $100 placed on collection 2003 paid in 2005.

Still my credit score has been on 690. in 2006 and has been at 696.

I dont understand why inspite of paying everying on time and in full, my credit score is not

going up.

A question about my credit card payments. Lets say from january 1 to feb 1. I used my credit

card for $300. I receive bill for it on Feb 1. and due date is feb 23. I pay this $300 on Feb

20. But I have used my credit card from Feb 1 to Feb 28 for $200. This will show up in next

statement but Am I paying it correctly, since i used it from Feb 1 to 23 there is always going

to be some amount on my credit card. Is this what is causing my credit score to not go up.?

Please explain why inspite of paying on time, inspite of not using credit card to more than 10%

of avaialble limit my credit score is not going up. ?


Kiplinger Editor any answers to this.Who can i ask this?

Thank you in advance.
Regards
Dhabud :confused:

Your score is calculated on more than just paying on time. There are a variety of factors also included in the calculation including how much open credit you have, how much open credit you have when compared to your income, the debt-to-credit ratio, the debt-to-income ratio, etc. A lot depends on the history of your credit, too -- how far back your credit history goes.

You may be paying on time but if your debt-to-income ratio, or debt-to-credit ratio is off, your score won't improve until you start retiring debt, or improve your income.

Hosptial Ambulanace bill of $100 placed on collection 2003 paid in 2005, alone will keep your score from going up too much until it's no longer in the system. It's good that you only use 10% of your credit, but if your credit limit is say: $2,000 on your 1st card $1,500 on your 2nd and 3rd card and $1,000 on your last card, your credit limits will effect your score as well, the larger your credit limit the better your score (as long as that limit is not being used (as in your 10% goal)). Keep at it good things will come

Here are some tips which could help you in improving your credit score.

1.Make your payments on time, even if it means paying only the minimum due amount.
2.Keep your credit account balances below 50% of your total credit limit for each account.
3.Avoid too many credit inquiries in a short period of time.
4.Never default on a loan.
5.choose the right credit card according to your needs by credit card comparison (http://www.billshrink.com/).

Well, it could paradoxically be related to your current borrowing. When I wanted to get a lot loan for a new house, my credit rating was actually lower than I'd hoped, because I really didn't borrow as much - I didn't have as much proven track record of borrowing & repaying.


Merchant Services (http://www.merchantaccountsllc.com)

paying back on time is the way to increase your credit score, but these things take time. Patience is the name of the game.

I guess it could be the amount of credit/debt that you have compared to your income. All banks are vary wary of this at the moment.

Here are some tips which could help you in improving your credit score.

1.Make your payments on time, even if it means paying only the minimum due amount.
2.Keep your credit account balances below 50% of your total credit limit for each account.
3.Avoid too many credit inquiries in a short period of time.
4.Never default on a loan.
5.choose the right credit card according to your needs by credit card comparison.

Hi, Really these tips are helpful for improving your credit score.

Here are some tips which could help you in improving your credit score.

1.Make your payments on time, even if it means paying only the minimum due amount.
2.Keep your credit account balances below 50% of your total credit limit for each account.
3.Avoid too many credit inquiries in a short period of time.
4.Never default on a loan.
5.choose the right credit card according to your needs by credit card comparison (http://www.billshrink.com/).
And, if you have followed all these, it's just a matter of time before your credit is restored.

This is the answer to your question, this is holding down your credit score:

One derogoratory item on my creidt report
Hosptial Ambulanace bill of $100 placed on collection 2003 paid in 2005.

Contact a Credit Repair Company and see if they can help you. You probably also have some inquiries that are holding down your score.

No worries, most Credit Repair companies can help you with this. Or at least have had good success removing these kind of items from Credit Reports, since it is such a small amount, it has been paid off and it is more then 2 years old.

Any questions let me know!

Good luck! ~