I have a credit score of 580 and I will be graduating college next year, how can I improve my score?
Things that I have been doing –applying for multiple lines of credit & subsequently being declined for most of these lines of credit –applying for large student loans & subsequently being declined for these loans –I’ve made between 5-10 late payments on various different credit cards –I had 6 lines of credit opened but I closed all but 4 of them last week (I heard that not closing accounts is a smart thing to do since then it increases your proportion of debt to available credit, however, I just needed to get rid of these cards).
What can I do? I may be thinking too far ahead but eventually I am going to have a career and I will want a home. I want a score over 700 to secure me with the best interest rates. I want to be financially smart, but I’m really not. Please help 🙂