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| Credit Score | |
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| Tweet Topic Started: Mar 2 2012, 09:05 PM (2,721 Views) | |
| Shinrin | Mar 2 2012, 09:05 PM Post #1 |
 
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So, Nerys posted a website I didn't know about, that let's your view your credit score for free. I think it's pretty cool. Found out I have a fairly nice credit score for being 21. What's yours? I know this might be a bit too personal for some people, but me, I don't care in the least what people know about me. My score is 705, with my only listed thing i need to improve is my debt to limit ratio. I have one of my cards a bit higher than I like, but it'll be down to zero in two months or so. I have the money to pay it off immediately, but then I'd be left with nothing in the bank. I'd rather pay a little interest now then to have nothing to fall back on. https://www.creditkarma.com/ |
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| vr4 | Mar 2 2012, 09:16 PM Post #2 |
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I think my credit is about 5 |
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| GeoStalker | Mar 2 2012, 09:26 PM Post #3 |
"Chicks dig me and guys think I'm cool."
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I don't use credit. I pay cash for everything. Screw that FICO score!! |
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| poorman1 | Mar 2 2012, 09:29 PM Post #4 |
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My credit karma score is 778 My credit sesame score is 821 My real FICO score is 820, verified from the bank today ( I'm refinancing my house to a lower interest rate ) Edited by poorman1, Mar 2 2012, 09:30 PM.
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| Shinrin | Mar 2 2012, 09:36 PM Post #5 |
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Does the sesame score taste good? |
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| clarkdw | Mar 2 2012, 09:37 PM Post #6 |
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Interesting article on credit. It is Canadian but our credit system mirrors the U.S. A little on how credit score is used to encourage overindulgence in the use of credit. Did you know that it raises your credit score if you maintain a balance on your credit card and only make the minimum payment? Seems counter-intuitive to me. http://www.cbc.ca/news/business/story/2011/10/29/f-gail-vaz-oxlade-debt.html |
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| poorman1 | Mar 2 2012, 09:45 PM Post #7 |
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My research and experience shows the opposite to be true. I pay my credit card off in full every 2 weeks and have a decent credit score |
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| Shinrin | Mar 2 2012, 10:16 PM Post #8 |
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The ideal thing is to always have something like 10% on your card at all times, while making payments. |
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| Cobb | Mar 2 2012, 10:41 PM Post #9 |
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BANNED
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Just an FYI, you cant borrow money when you need it, so you should consider applying for a line of credit, credit card, etc that has favorable terms for emergency cases. Rather you find a fire sale on metro parts or end up unemployeed for a few months. Smaller banks typically give better rates, bigger, worse. Dont call about an account when you have bad credit or a fresh blimish on your file. Your acct is reviewed and if your credit isnt what it use to be most banks with their concern about undo risk will cap your acct, jack up your interest and tell you to have a nice day. Getting credit offers in the mail is a good thing. Tht means you got good credit. When they stop is when you should get concerned. Never close an acct with the highest credit limit, keep it open even if you do not use it. If you want a new car and dont like the short 0% introductory interest rates for an auto loan, you can always refi it with AAA, credit union, etc when that expires. |
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| nerys | Mar 2 2012, 11:01 PM Post #10 |
Grr
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this actually makes sense. if you have ZERO BALANCE they have no idea if your a good credit risk. you don't have any credit your paying down to "show" credit risk. then again keep everything maxed and your score suffers too since your over extended. 820 is FANTASTIC you with the 705. get to work. if you can get that to 720 your GOLDEN credit wise as 720 is the "magic number" so to speak. 705 IS an excellent score. I had a real score of 780 when they jacked my interest rate to 32% :-( Edited by nerys, Mar 2 2012, 11:02 PM.
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| Shinrin | Mar 3 2012, 12:04 AM Post #11 |
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It's all a waiting game. Get my balance lower and my age of credit higher. When the cards are payed off I might get a 5,000 loan and buy a motorcycle |
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| HelterSkelter | Mar 3 2012, 12:19 AM Post #12 |
#1 Pizza Driver
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these are the credit brackets according to equifax (one of 3 bureaus that determine and say what your credit is) 760-850 is excellent, 660-759 is good credit, 560-659 is fair credit, anything below 560 is poor. equifax and experian say i am a 683 and transunion says i am a 700. both are good scores that come entirely from always (almost always, except 3 times) paying my credit cards on time. the 3 times i didn't pay on time, 2 times i was out of the country and simply lost track of time and payment due dates, i have 5 different due dates, and the third was just forgetfulness. those 2 times though i did manage to get them to drop the interest and late fee after i explained what had happened, even though it was still totally my fault most companies will work with you, assuming you keep it professional on the phone and don't start yelling or being angry. to build your credit the best things you can do is: 1 always make a payment by the due date. some bankers suggest leaving a balance to make it go up faster, i suggest always paying it off so you don't pay any interest. it will only go up marginally faster by leaving a balance. 2 keep your balance across all lines of credit at or below 25% of your total credit. 3 don't have too many credit cards and loans open at once. 4 don't have your credit checked too often, every time someone other than you checks your credit it goes down by one point. 5 don't get denied credit frequently. if you know someone is not going to extend you a line of credit don't bother trying to get it from them, best buy isn't going to give you a 1500 line of credit for that tv if you only have one credit card with a 300 limit. credit line denials decrease your credit. 6 get a loan and pay it off. credit cards alone will only doo so much, they will get you to about 650-700 fairly quickly but are slow at raising score after that and many places won't offer you credit if your credit history only includes credit cards (american express will not give you a card in this case). even getting a personal loan and putting all of it in the bank and just paying it back with interest will be a great help to your score, though more practical loans like car or housing loans are the way to go. also if you have a discover card, it would be wise to take them up on the 9.99 a month credit score tracker. this is cheaper than the 16.95 a month the 3 bureaus offer. it's not necessary but you can watch your score go up or down. |
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| Horn | Mar 3 2012, 01:20 PM Post #13 |
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No no no. Do NOT keep a balance on your card....DO NOT. ony use about 20% of ur cc. i have a 766 credit cards only due to credit cards. Never had a loan. Annualcreditreport is free, but u have to pay for the score. It is not hard to get a high score. if u screw up on a cc get a loan from a bank and pay off the loan. Would rather pay 5% over 20% Pay off your credit cards completely each month. Are you guys high? Dont ever carry a balance on a cc. |
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| starscream5000 | Mar 3 2012, 01:54 PM Post #14 |
Got 70 MPG?
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My FICOS range between 740-760 and my age is 26. |
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| Horn | Mar 3 2012, 02:03 PM Post #15 |
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How do u know what it ranges between? Did u pay money and check all 3 agencies? |
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