Would it help my credit score if I took my credit card and paid off small debt and then paid off the credit card on time every month? Would this work?

Asked by Charlena C. Dempsey, Huntington, WV Thu Jan 23, 2014

I have very poor credit with a score of 514 from 2 years ago. I have just got a Capital Bank – OpenSky® Card which Reports to the major Consumer Reporting Agencies every month I have 4 $200-$300 debts and I have payment plans set up for the big debt which are two $800 debts. So my question is if I paid those payments I have set up with my credit card and then paid the credit card off with my pay check would that work out?

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Necia Freeman’s answer
Necia Freeman, Agent, Barboursville, WV
Thu Jan 23, 2014
You have been asking a lot of questions about what is best to raise your credit. I suggest you get in touch with a lender who can also direct you to a credit professional to steer you in the correct direction to becoming a home owner. Lenders will not charge your to help you. You seem to be searching, but the easiest way to get the correct advise is to contact a lender. Hal Carico with Victorian Finance 304-412-3186, is a local lender that can help you, Becky Ross with BB&T is another lender that I would suggest you contact.
1 vote
I called Hal as you suggested but he said there is nothing he could for me. I am trying to find a place that will give me a small loan. I am paying off my bad debt anyway and I could pay off the debt with the loan and turn around and pay off the loan which both would help my credit report. I am getting $9,000.00 back on my income tax with in 21 days so I would have no problem paying the loan my debt is less then $3000.00
Flag Wed Jan 29, 2014
Tanya Ess-Yo…, Agent, Marietta, GA
Thu Jan 23, 2014
I would by pass all of this and recommend getting in touch with a lender who can write out a plan to get your credit score back up to where you feel comfortable at. You can check with your bank to see if they have one.
0 votes
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