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How can I improve my credit score and history in 5 - 7 months? Applying for school loans for Fall ‘08 semester
Credit
dream_master_111 asked:
Going back to school after a long absence. Going to apply for various types of loans this summer. Will have to turn to private/alternative loans, besides using federal grants, loans, scholarships.
Can a hired expert be of help here? If so, what kind of expert?
Can I get a credit card, buy something on it, make payments on time and quickly up my credit history?
Are there various, quick strategies?
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Tags: 7 Months, Absence, Back To School, Credit Card, Credit History, Expert, Federal Grants, Federal Loans, Federal Scholarships, Going Back To School, Grants Loans, Grants Scholarships, How Can I Improve My Credit Score, Improve Credit, Private Loans, School Loans, Types Of Loans
September 21st, 2008 at 8:07 am
It’s hard to say what to do, since you don’t say what kind of credit you have now.
In general, the answer is no, you can’t change it quickly. If you could, everyone would do it, making credit bureau reports worthless. Lenders want to see reliable performance over time, not one good event.
As for hiring “experts”, don’t do it. As I said, there is no quick fix, so nobody can sell you one, although some will try. What gets sold as a “credit repair service” falls into three categories: (1) things that don’t really work; (2) things that are fraudulent and therefore illegal, like using a second social security number; (3) things that you can do yourself for free, like get a free credit bureau report and send dispute letters for errors.
Good luck with your schooling.
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