630. Is this a decent score??? How can I make it better?!How can you make it better?Your first step is to avoid adding anymore debt if all possible.Now step number 2 is to paydown on all of your outstanding balances,and get them down to aleast 50% of total amount owed.Your credit score will get much higher,and you can get better interest rates,infact when MBNA sees that you are improving your score they will lower your interest on your LOC loan with them.How will you know when your score is getting higher over time?Your mailbox will have the answer.How?Just look for "pre-approved credit offers" only,not "pre-selected,or by invitation only" because these are just applications of credit only,and this don't have a pre screening like "pre-approved" offers do."pre-approved offers indicates that you have met the min. criteria for their credit card,or loan offer.If you would submit to one of these offers marked "pre-approved" they will do a full evaluation of your creditworthness to see if you still meet their criteria,to get this they take all of your information on your form when you send it in,and will obtain a credit report which will mark an inquirie on your credit file,and see if you meet all their requirements,if so you get approved for their card,or loan product.Your income, your job how long you have been with your employer,wether you own,or rent your place and how much outstanding balances you owe,are just a few to name on them making their final credit decision on qualifying for their offer.Now just don't take any pre-approved offers,just look at the ones the are offering lower interest rates then what you are currently paying now.Most lenders don't want to see your debt to income ratio greater then 41% including housing all togeather.Also when you start seeing these offers coming in your mail,this would be the time to call MBNA,and get your LOC interest rate lowered.It is most likely you will qualify for a lower interest rate on their LOC.Also you should review all 3 of your credit reports,and do it aleast on a yearly bases to make sure that they are acurate.Also don't apply for too many because every time you do an inquirie is noted on your credit report,and too many of these are negative to any lender.Limit no more then 2 to 3 inquiries each year.I hope this helps you out,and good luck on getting your credit score higher.BLE103
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