How can i improve my fici score?

Cedrick
Was able to refinance my house a year and and half ago. My FICO score is 670. I settled with a past due credit card a year ago. Been paying my mortagage regularly. Only have 1 small Sears card with no balance. Tried to increase credit limit (to build credit) but get turned down for bad credit score. How can I improve my score so I can get other credit.Thanks for your input.

Etta
If you have no other cards, pay as much as possible to get balance down asap. If there are other cards, make sure that, at least, the minimum is paid to those. I would recommend debt stacking.Take all your bills that have interest involved with them, including the mortgage. List them in order of highest interest to the lowest interest. To the left of the interest, put the name of the company/card, interest to right, balance to right, minimum payment to right, and what you actually pay in the last column.Starting with the second highest interest, all the way to the lowest- pay the minimum payment to each of these. For each and every one of these, take the over payment and add it to the actual payment you make on the highest payment. By doing this, you keep paying regular payments to all the other bills, while paying the highest interest off first, regardless of the total amount owed.Once the first is paid off, roll that entire amount down onto the second highest and keep doing this until all are paid off.

Bobbie
Store cards will not help your credit even if you pay them on time for 10 years. Only major credit cards, mortgages and car loans will up your score. Of course any bad debt will bring it down a lot.You need to get one of the following: Visa, Master Card, American Express or Discover. Use the card to buy something about $300. Pay double the minimum payment until it is paid off. Repeat this process for about 6-8 months and your score should rise about 15 pts. Continue with this for a few years and you can potentially get into the high 700's.Many people have the misconception that paying off the card entirely will up the credit score. You need to carry a small balance on them and always pay on time for the score to rise.**Never charge more than 30% of the available balance. ***Do not close cards less than 5 years old.

Estella
I'm not sure what you mean by "get other credit"lose the sears card (i.e. close the account and destroy the card). for credit cards, you really only need 1 or 2 (mastercard and/or visa) and these are easy to get. when you get them, use them wisely (i.e. never carry a balance -- always pay off balance in full. don't use it to purchase anything that you don't have the funds in your checking account to pay for. you might be tempted to make a purchase right after a statement closes {so you have about a month before payment is due} and expect to have the funds from future paychecks, but you can't predict emergencies.having lots of credit cards actually decreases your credit rating. so ignore those offers for department store cards.

Beau
The following 5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.1. Re-payment historyThis factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.2. Outstanding debtThe next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.3. Length of your established credit historyThe time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score.4. The state of your financial accountsHow much money do you have in your bank account, your income levels, your house, car, your assets etc. comes the next. A healthy bank account reflects a healthy credit score. Experts find that credit reporting agencies give this factor 10% weight while determining your credit score. Read more from: http://www.credit-card-gallery.com/artic…