Why do I need to go into massive debt to raise my credit score?

The whole credit process seems backwards to me.


Shouldn't people with little or no debt have higher scores?

Why do I need to go into massive debt to raise my credit score?
They do.





But what builds score is payment history, time in the bureau and debt to income ratio. Those 3-things make up 80% or your score.





To have those things obviously you have to go into debt and make payments. But you do not have to go into massive debt, quite the opposite. Anything over 30% of your limit actually works against you.
Reply:Ones needs to spend money using a credit card, then pay the credit card off each month in order to increase your credit score. Credit corporation need to see a spending/paying pattern. It does nothing to apply for a C.C. and let it sit there.


Payments payments payments is the name of the game.


Buy dinner twice monthly, then when your statement comes pay it in full. If you have more than one C.C. apply the same idea to that one, or all of them, just do not over spend.


It does not matter how much you spend as long as you pay if off. Do not incure finance charges or late fees, these are big no no's.


Hope this hopes.
Reply:You don't have to get in debt to have a good score. You have to show that you are responsible to handle the debt that you have. You have to make your payments on time and the payments have to be no less then the minimum payment according to your terms.
Reply:You don’t need massive debt to raise your score. In fact credit cards are just the opposite.





For credit cards: Keeping a low balance/high limit and keeping your account open/in good standing for years will raise your credit score.





Having long-term car or home loans may also raise your score slightly so when a dealership tell you going into debt will raise your score it isn’t a total lie.
Reply:I can assist you. I can repair your credit, that way you dont have to pay those high payments back. Email : Cyprianassociates@yahoo.com
Reply:You don't need to go into massive debt. You just need to use credit products and use them wisely. Even if you take credit cards and pay them off every month without fail, your score will go up and you will never have paid a penny of interest.
Reply:Its Called PAYING THE PIPER ! ! !