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credit score

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Providian Credit switched to TransUnion for the FICO score. It's actually pretty nice feature to have, I'd recommend Providian to anyone.
 
Originally posted by: JLGatsby
Originally posted by: edro

Originally posted by: edprush
My score was 785 this summer but in the last month I have requested that my credit card credit-limit be increased from $17k to $30k.
How much do you figure that caused my credit score to drop?
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Credit limit has no effect on credit score.
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QFT both of you.

The more credit you have given to you, relative to how much you owe, the better your score.
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Why are you QFTing them when they are wrong? Credit limit DOES have an effect on credit score.
Red has the right answer:
Originally posted by: Red
Originally posted by: edro

Originally posted by: edprush
My score was 785 this summer but in the last month I have requested that my credit card credit-limit be increased from $17k to $30k.
How much do you figure that caused my credit score to drop?
Click to expand...
Credit limit has no effect on credit score.
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It does affect the ratio depending how much he owes on credit cards. It's best to owe less than 25% of your total credit lines....

so, for example, let's say Edprush owes $7,000 on his $17,000 credit limit and that was his only credit card. He owes 41% of his total balance. If his credit line was then increased to $30k, he then only owes 23% of his total available credit line, and that could increase his score by a lot.

If he owes nothing on credit cards, higher credit lines can hurt because creditors see all of that available cash as a risk compared to smaller untapped balances.
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Originally posted by: edro

Originally posted by: edprush
My score was 785 this summer but in the last month I have requested that my credit card credit-limit be increased from $17k to $30k.
How much do you figure that caused my credit score to drop?
Click to expand...
Credit limit has no effect on credit score.
Click to expand...

Incorrectamundo.
 
Originally posted by: Mill
Originally posted by: woowoo
Originally posted by: arcenite
Originally posted by: Mill
Originally posted by: dartworth
Originally posted by: CTrain
The lower the better.
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Why are you all quoting this
A low score means bad credit
A high score means good credit.

Anything above 170 is "A" paper.
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Just simulating idiots like yourself. 170, eh? Christ...
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Yes I made a typo
But idiot?

Go back to your video games little boy........
 
It's apparent everyone here thinks they know.....I guess I'll just check my credit score every 6 or so months to see what has happened to it after increasing my credit card credit-limits.
 
Credit scores have been discussed so often here, I can't even believe some of the complete nonsense that was posted in this thread.

Why do people say things when they have no clue what they are talking about?

 
Originally posted by: SirChadwick
Don't get too carried away with that. Every time you check your credit, it drops 1 point.
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Wrong, everytime a CREDITOR makes an inquiry, it can drop. Checking your credit for yourself does not hurt your score.
 
Originally posted by: Codewiz
Originally posted by: SirChadwick
Don't get too carried away with that. Every time you check your credit, it drops 1 point.
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Wrong, everytime a CREDITOR makes an inquiry, it can drop. Checking your credit for yourself does not hurt your score.
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You are wrong Codewiz, you are only entitled to one free report a year unless you apply for a Loan and are denied then you can get another for free to see why you were not approved. Checking your own credit DOES hurt your score if you do it to much, although it is not detrimental if you only do it a few times. I know this is true after dealing with lenders and stock brokers quite often.
 
Originally posted by: griffis
Originally posted by: Codewiz
Originally posted by: SirChadwick
Don't get too carried away with that. Every time you check your credit, it drops 1 point.
Click to expand...

Wrong, everytime a CREDITOR makes an inquiry, it can drop. Checking your credit for yourself does not hurt your score.
Click to expand...



You are wrong Codewiz, you are only entitled to one free report a year unless you apply for a Loan and are denied then you can get another for free to see why you were not approved. Checking your own credit DOES hurt your score if you do it to much, although it is not detrimental if you only do it a few times. I know this is true after dealing with lenders and stock brokers quite often.
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No, Codewiz got it right. Checking your own credit report or score doesn't hurt you. Mass inquiries from say, credit card lenders, doesn't hurt you unless of course you take them up on their offer and apply for new credit which DOES hurt your score.
 
Originally posted by: oddyager
Originally posted by: griffis
Originally posted by: Codewiz
Originally posted by: SirChadwick
Don't get too carried away with that. Every time you check your credit, it drops 1 point.
Click to expand...

Wrong, everytime a CREDITOR makes an inquiry, it can drop. Checking your credit for yourself does not hurt your score.
Click to expand...



You are wrong Codewiz, you are only entitled to one free report a year unless you apply for a Loan and are denied then you can get another for free to see why you were not approved. Checking your own credit DOES hurt your score if you do it to much, although it is not detrimental if you only do it a few times. I know this is true after dealing with lenders and stock brokers quite often.
Click to expand...


No, Codewiz got it right. Checking your own credit report or score doesn't hurt you. Mass inquiries from say, credit card lenders, doesn't hurt you unless of course you take them up on their offer and apply for new credit which DOES hurt your score.
Click to expand...

I used to work for Equifax and can confirm that checking your own credit report does not affect your credit score. Only inquiries that you approve through lendors can affect your score.
 
Originally posted by: Train
Providian rocks. I keep that card (high rate) just to see my score every month.
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Do you have to use the card to take advantage of this? If so I'll get it and just put my gym membership on it.

 
Originally posted by: Mill
Originally posted by: bonkers325
Originally posted by: Budmantom
Originally posted by: Jayczar
not bad, higher is best.
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Not good.
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higher is not always best... having perfect credit is almost as bad as having low credit rating
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People like you are the reason that babies get AIDs in Africa.
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I think what he means instead of "perfect credit" is "no credit", which would make this statement a little more truthful, but not entirely correct.
 
Originally posted by: spacejamz
higher is not always best... having perfect credit is almost as bad as having low credit rating
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WTF???😕

Please explain...this should be pretty good....
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it is like too good to be true? yea.....it gotta be scam or something.
 
Originally posted by: orenero
Originally posted by: Train
Providian rocks. I keep that card (high rate) just to see my score every month.
Click to expand...

Do you have to use the card to take advantage of this? If so I'll get it and just put my gym membership on it.
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I dont think so. I've had mine paid off for a while, and still get the updated score every month. Sometimes I buy a few things on it, and pay them off right away, just to keep my credit score on the rise, without paying interest. But lately its been something like 4 months since I used it last. I keep meaning to buy something with it but am in the habit of using my paypal debit card.
 
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