wow, FICO score went up 76 points since May 12th

[JohnCU]

paying down credit cards and getting a new car must help more than i thought. i also consolidated my CCs so that added to my available credit. maybe i can hit 700 soon.

 

[kranky]

That's a great improvement. Do you know what your old and new utilization percentages are?

 

[jdoggg12]

Congrats!!! I've been watching mine steadily grow over the last couple years and just passed the 800 mark (equifax). Good scores make life so much easier!

 

[JohnCU]

Originally posted by: kranky
That's a great improvement. Do you know what your old and new utilization percentages are?

pre-college graduation: 101% utilization
now: about 40%

 

[spidey07]

Originally posted by: JohnCU

Originally posted by: kranky
That's a great improvement. Do you know what your old and new utilization percentages are?

pre-college graduation: 101% utilization
now: about 40%

That's it right there.

Keep up the good/smart work and you'll be over 720 in no time.

 

[krunchykrome]

I'm hoping to have my credit score close to 800 by the end of the year. Im not sure if that's feasible. My score is about 740 right now.

 

[markgm]

Congrats!!

 

[Beattie]

You do realize that the best credit score is 0, right?

 

[JohnCU]

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

there is no 0.

 

[krunchykrome]

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

 

[Lithium381]

not an attempt to hijack your thread but i just bought a car too, financed it. 9k over 5 years at 2% how much will this help my credit? i'm at 750 now

 

[TwiceOver]

Just got a house and my wife has a 0 credit score or as the loan officer put it "Nothing". Not sure if there was a number associated with it. I can honestly say that a credit of "0" did not help as much as a bad credit score would have.

Ended up taking her off the loan just to get it approved faster without having to jump through so many hoops.

 

[Dacalo]

Which site is the best for credit monitoring service?

 

[DBL]

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

How is your one room shack in Montana?

 

[krunchykrome]

Originally posted by: Dacalo
Which site is the best for credit monitoring service?

I like myfico.com. They have a 30 day free trial.

 

[lokiju]

Originally posted by: DBL

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

How is your one room shack in Montana?

I hear comments about credit like this all the time.

If you have no credit you can still very easily get loans for a home or car or whatever.

As long as you have the (provable) income to back it, and underwriter can easily get you approved.

 

[kranky]

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

Could you elaborate on that?

 

[DaWhim]

Originally posted by: krunchykrome

Originally posted by: Dacalo
Which site is the best for credit monitoring service?

I like myfico.com. They have a 30 day free trial.

providian has free fico score from transunion every month. I got their credit card just for this.

 

[JohnCU]

Originally posted by: Dacalo
Which site is the best for credit monitoring service?

myfico, i pay $8.95 a month and it constantly sends me updates whenever my credit report changes or my score changes.

 

[krunchykrome]

Originally posted by: DaWhim

Originally posted by: krunchykrome

Originally posted by: Dacalo
Which site is the best for credit monitoring service?

I like myfico.com. They have a 30 day free trial.

providian has free fico score from transunion every month. I got their credit card just for this.

Do you know off the top of your head if any of these credit cards offer free fico scores?

AMEX
Citi
HSBC
BOA

 

[DBL]

Originally posted by: lokiju

Originally posted by: DBL

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

How is your one room shack in Montana?

I hear comments about credit like this all the time.

If you have no credit you can still very easily get loans for a home or car or whatever.

As long as you have the (provable) income to back it, and underwriter can easily get you approved.

I was making a joke. How does this make no credit the best credit score?

 

[Beattie]

Originally posted by: kranky

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

Could you elaborate on that?

Well, it's a best case scenario I guess. But basically your FICO score is based on your debt payments and available debt (credit).

If you have no debt (dont use credit cards, no car loan, no mortgage, etc) you will eventually have a credit score of 0. And it's a good thing to not have debt.

 

[jagec]

Originally posted by: Beattie

Originally posted by: kranky

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

Could you elaborate on that?

Well, it's a best case scenario I guess. But basically your FICO score is based on your debt payments and available debt (credit).

If you have no debt (dont use credit cards, no car loan, no mortgage, etc) you will eventually have a credit score of 0. And it's a good thing to not have debt.

OK, you seem to have a serious misunderstanding about how credit scores work.

I have no debt, and a credit score of 760 last I checked. I've also made hundreds of dollars from rewards programs, and so I would have less money in my pocket now if I had never used credit cards.

Now who do you think is going to have an easier time getting low-interest loans (like mortgages)...the guy with a good credit score, or the guy with no credit history? Considering that building my credit cost me nothing, and indeed made me money...how is it "better" to not have a score?

 

[Beattie]

Originally posted by: jagec

Originally posted by: Beattie

Originally posted by: kranky

Originally posted by: Beattie
You do realize that the best credit score is 0, right?

Could you elaborate on that?

Well, it's a best case scenario I guess. But basically your FICO score is based on your debt payments and available debt (credit).

If you have no debt (dont use credit cards, no car loan, no mortgage, etc) you will eventually have a credit score of 0. And it's a good thing to not have debt.

OK, you seem to have a serious misunderstanding about how credit scores work.

I have no debt, and a credit score of 760 last I checked. I've also made hundreds of dollars from rewards programs, and so I would have less money in my pocket now if I had never used credit cards.

Now who do you think is going to have an easier time getting low-interest loans (like mortgages)...the guy with a good credit score, or the guy with no credit history? Considering that building my credit cost me nothing, and indeed made me money...how is it "better" to not have a score?

Based on your comment of making money off rewards programs it seems that you have credit cards. If you use them, you are accumulating debt and I am guessing then paying it off. This helps your FICO score.

Also, you can get a good mortgage with no credit. You just need a broker that will look at something other than FICO (pay stubs/bank statements for example).

 

[jdoggg12]

There is no 0 in FICO, the lowest possible score is about 300.