Credit Report and Credit Score Online

Consumers are submitting their credit questions and offering each other smart answers in our freshly-launched Credit Advice Center. These consumers are busy making lemonade out of lemons by turning their financial struggles into community knowledge.

Can you believe we have nearly 700 questions and counting from just the last two weeks? The Credit Advice Center is quickly becoming a hotspot as the number of incoming questions shows the need for more credit knowledge and advice amongst consumers. In response, others are submitting advice, their own experiences, and showing off their credit know-how to show that we can help each other become more credit-savvy consumers.

Check out the Credit Advice Center today and post your burning credit-related questions or share your thoughts!

Here are some conversations buzzing at the Credit Advice Center right now:

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Question: I pay my bills on time; why do I have a low credit score?
Your Answers:

• “Five main categories go into making up your overall credit score calculation. Let’s briefly review each category and how much they count… If you can stick by these five key principles, you should be well on your way to healthy credit and credit scores…”
• “If you have any derogatory accounts, high credit card utilization, or your credit file is small or new, your score may be low.”

Question: How do I ensure hard credit inquiries are removed from my credit report and when they do come off, will my score improve?
Your Answers:

• “You’re entitled to 1 free copy of your credit report per bureau per year, so you could check to verify they’re removed that way.”
• “It stays on credit report for 2 years; you can’t remove them.”
• “That is a fairly high number of hard inquiries, so your score will improve as they fall off – assuming you are maintaining your creditworthiness otherwise. However, keep in mind that inquiries typically make up a relatively small weight of the typical credit score, so do not expect dramatic changes upwards.”

Question: I’m 21 and my credit is 533. Is there any way I will be able to increase my score?
Your Answers:

• “You will not get any unsecured cards with a 533 score. Pull your report at annualcreditreport.com and fix any problems with it, then get an unsecured credit card from Public Savings Bank.”

Question: How do I get out of a co-signed loan? I was recently divorced and my ex-husband has an auto loan and my name is still on the debt. How do I go about that debt NOT affecting my credit score anymore?
Your Answers:

• “The only way to remove yourself as a co-signer on this loan is for your husband to refinance the car under his name alone…”

Question: What can I do to make my credit score better after I already filed for bankruptcy?
Your Answers:

• “Believe it or not, bankruptcy, while sometimes necessary, is not the end of credit life as we know it…”
• “Time heals wounds. If necessary, get a secured credit card and pay it on time every month until your score is around 500-550. Then apply for an unsecured card. DO NOT go more than the recommended ratio of debt to income…”
• “Hey found these steps on the blog about how to fix credit after bankruptcy – http://blog./credit-scores/dear-credit-karma-fixing-credit-after-bankruptcy/. Hope they can help you out! Good luck!”

Similar Posts:

• Credit Karma Q&A: Hard Credit Inquiries and Accounts in Collections
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• This Week’s Top Credit Questions – Confused About Credit
• Top Credit Questions: How Will This Affect My Credit Score?
• 5 Reasons to Ask for Credit Help