Expert: David - 6/9/2009

Question
Two years ago I filed a bankruptcy a year later I bought a new car and last year I bought a house, my credit score was
650 and is now 651 or 652, anyway even though I pay all of my bills on time or early and have made major improvements my credit score does not go up, I was told by another person it is because I do not have any credit cards, having a credit card should be a personal choice not a pre-requisite for having a higher score, I do have two revolving accounts I pay on faithfully.  I am 62 and do not wish to enter into any more major debt.
How do I get my score up?

Thank you

Answer
Kerry,

The best way to make a quick impact is to have negative items removed from your report.  You can learn more about that at www.financialscoringsolutions.com

Longer term growth will come from on time payments to various sources...secured credit cards...unsecured cards...secured cd loans

10% of your score is based on credit mix, you'll want to keep varied types of loans and credit in place.  Make sure you're only using major banks to get this done...You can get a 15% boost avoiding finance companies.