Finance and credit score issue?

If I finance a used car that cost $1,000, and I pay it off in six months how much will my credit score be if my credit score is now 509.

Finance and credit score issue?

Anyway you look at it, you really have a long way to go to get to a good score.

Just take your time and keep trying, you%26#039;ll get there - but it takes time.

Personally, I would had paid the loan in the entire time alloted for it, and opened a local credit card for around $200.00 and

charged and paid it each time.

Things like that also increase your score.

hope this helps some.

Finance and credit score issue?

The equation is a little more complicated than that:

FICO credit scores are based on:

Payment history - 35%

Amounts owed - 30%

Length of credit history - 15%

New credit - 10%

Types of credit used - 10%

Finance and credit score issue?

Not high enough; you need to do something about your score. I suggest credit repair. Many people will tell you that you can do this yourself. You can with a little help. The key is to have the language of your letters correct. The wrong verbage will get you thrown into a turndown stack and possibly blacklisted. Additional tips will help you as well. I have had success with a do it yourself credit repair kit that costs less than $20閳ワ腹鈧?a much better solution to those firms charging per month or $699 for a program. Good luck.