Credit scores

• Steel Valley Football

  Mine was shit, but I've since built it back up to 750 or so. I think 746. 10 yrs ago it was in the 400's.
• fan_from_texas

  You should check out CreditKarma.com, which I think QCB originally mentioned in a post six months ago. It's a great, free way to stay on top of your credit.
• SportsAndLady

  

  Check with your bank too..they might have a way to check it for very cheap. I know at 53rd we have 53 identity alert and its just a couple bucks a month. Its simple and easy.
• Ironman92

  

  Mine was 798 when I bought my last car about 8 months ago.
  
  I've heard it is higher if you have some built up credit card bills but never miss or are late...paying at least minimum.
• Con_Alma

  Ironman92;1212237 wrote:Mine was 798 when I bought my last car about 8 months ago.
  
  I've heard it is higher if you have some built up credit card bills but never miss or are late...paying at least minimum.

  Here's what makes up your FICO score.
  
  35% Payment History
  
  30% Capacity or the amount you owe
  
  15% Length of Credit History
  
  10% Types of credit...having a blend of debt instruments.
  
  10% New Credit
• gut

  Ironman92;1212237 wrote: I've heard it is higher if you have some built up credit card bills but never miss or are late...paying at least minimum.

  Long histories help. Tough to get above 800 if you don't own a home, I think. Would love to see what it takes to get a perfect score.
  
  I've made a habit of opening store accounts to get a discount on purchases. Most of these self-close when you don't use them after a period of time. But any new account or inquiry negatively impacts your credit.
  
  Somewhat oxymoronic that someone who has no credit and never needed it actually scores lower in many cases. Not a bad idea if you are considering a mortgage at some point in the near future to research ways to maximize your credit score - not doing so can cost you a good chunk of money.
• BigAppleBuckeye

  

  Glad to see a post about this: my current credit scores for the three bureaus are 746, 766 ... and 686. Not really sure why my Equifax is lower than the other two, and when I called (a few times) to ask, the foreign operator struggled to explain the model for the score.
  
  Anyway, long story short: will this third score of 686 affect my loan in the next 2-3 years (when I plan to buy a home with my wife)? Or am I overthinking this? Thanks in advance ...
• Con_Alma

  BigAppleBuckeye;1212280 wrote:Glad to see a post about this: my current credit scores for the three bureaus are 746, 766 ... and 686. Not really sure why my Equifax is lower than the other two, and when I called (a few times) to ask, the foreign operator struggled to explain the model for the score.
  
  Anyway, long story short: will this third score of 686 affect my loan in the next 2-3 years (when I plan to buy a home with my wife)? Or am I overthinking this? Thanks in advance ...

  It really depends on the lender and what they rely upon.
• Sage

  

  lol, "credit" aka "a non-regulated number stored on computers in delware " aka "WHITE PERSON BULLSHIT"
• jmog

  Sage;1212287 wrote:lol, "credit" aka "a non-regulated number stored on computers in delware " aka "WHITE PERSON BULL****"

  So now credit ratings are racist too? Interesting.
• Fab1b

  

  I actually just checked mine for grins while opening a new account with my bank. Now I preface I have had tons of credit in the past, loans, credit cards, you name it. For the past 8 yrs I have operated solely on cash basis, have no further loans or credit cards either during that period. My current score is 0. Now I ask is that bad? I only have 5 bills, rent, insurance, phone, elect, and cable anything I purchase is done cash. I have no need for credit.
• Sage

  

  where did i say credit ratings are racist, jmog? i just said it's something propogated by THE WHITE MAN, which is an undeniable fact. i doubt most credit card company CEOs are minorities. in fact, i'd be willing to bet most are stodgy, old, white, pasty, stiff-necked, pink penised sons-of-blisters.
  
  here's a fun thought experiment for americans, why do we need credit? so one day u can "own" a house? who gives a shit? u can't "own" anything. lol at u people and all your credit cards and buying things you don't need. credit is the parasite which has rotted our country since its inception. lol at u people buying things u dont need with money u dont have while people in this world starve. i'd be fucking embarrassed 10x more than i already am.
• Fab1b

  

  Sage:

  here's a fun thought experiment for americans, why do we need credit? so one day u can "own" a house? who gives a shit? u can't "own" anything. lol at u people and all your credit cards and buying things you don't need. credit is the parasite which has rotted our country since its inception. lol at u people buying things u dont need with money u dont have while people in this world starve. i'd be fucking embarrassed 10x more than i already am.

  I agree with this 100%! Credit got me into trouble and that is why I am now cash only. I learned some very hard lessons with credit. I paid it all off and won't look back or go that route again. I only plan on ever financing a possible place to live if I don't continue to rent. I will buy my next and future vehicles used and cash only.
• Pick6

  

  Fab1b;1212340 wrote:I actually just checked mine for grins while opening a new account with my bank. Now I preface I have had tons of credit in the past, loans, credit cards, you name it. For the past 8 yrs I have operated solely on cash basis, have no further loans or credit cards either during that period. My current score is 0. Now I ask is that bad? I only have 5 bills, rent, insurance, phone, elect, and cable anything I purchase is done cash. I have no need for credit.

  yes, if there comes a point where you need to take out a loan.
• Sage

  

  fuck a loan, the money changers can keep their money and their hovel of wood and stones. debt is slavery, and cash is king.
• Pick6

  

  Sage;1212351 wrote:fuck a loan, the money changers can keep their money and their hovel of wood and stones. debt is slavery, and cash is king.

  you went to OSU, correct? How did you pay for it?
• Sage

  

  i pimped myself out to loan sharks like the rest of my generation, lmao.
• gut

  jmog;1212300 wrote:So now credit ratings are racist too? Interesting.

  Used car man down at the corner will sell you a set of wheels for the low low rate of 20%. He don't need no credit check.
• gut

  BigAppleBuckeye;1212280 wrote:Glad to see a post about this: my current credit scores for the three bureaus are 746, 766 ... and 686. Not really sure why my Equifax is lower than the other two, and when I called (a few times) to ask, the foreign operator struggled to explain the model for the score.
  
  Anyway, long story short: will this third score of 686 affect my loan in the next 2-3 years (when I plan to buy a home with my wife)? Or am I overthinking this? Thanks in advance ...

  You are entitled to a free report from each agency once a year (annualcreditreport.com). Just note you may have to cancel after viewing to avoid fees (you have like 7 days, they make you sign-up to view, but you can cancel at no cost).
  
  Take a look at each one and see if there are any derogatory items to clean-up. You other scores are pretty good, it depends on what one your bank will use. If you have a car financed and can pay that off, it will help. If you have a low remaining balance on student loans and can pay off, that helps your score. Aside from that, try not to apply for any credit anywhere at least 12 months prior to seeking your loan as inquiries and new lines of credit negatively affect you. It's possible the 686 has a bad mark that's an error - it happens.
  
  The other little known (and bizarre) fact is you can actually negatively affect your credit even if you pay your CC's off every month. The dirty trick is they look at average balances, so if you have 1 CC with a $2k limit that you run-up every month it hurts you, even if you always pay the full balance. In that scenario what you need to do is get an increased limit on your CC and potentially get a second card. I believe the "magic" average balance they like to see is something like 25-30% of available credit. So if you run-up $1500 a month on your CC, then you want a combined limit of $5-$6k.
• killer_ewok

  

  gut;1212391 wrote:You are entitled to a free report from each agency once a year (freecreditreport.com). Just note you may have to cancel after viewing to avoid fees (you have like 7 days, they make you sign-up to view, but you can cancel at no cost).
  
  Take a look at each one and see if there are any derogatory items to clean-up. You other scores are pretty good, it depends on what one your bank will use. If you have a car financed and can pay that off, it will help. If you have a low remaining balance on student loans and can pay off, that helps your score. Aside from that, try not to apply for any credit anywhere at least 12 months prior to seeking your loan as inquiries and new lines of credit negatively affect you. It's possible the 686 has a bad mark that's an error - it happens.
  
  The other little known (and bizarre) fact is you can actually negatively affect your credit even if you pay your CC's off every month. The dirty trick is they look at average balances, so if you have 1 CC with a $2k limit that you run-up every month it hurts you, even if you always pay the full balance. In that scenario what you need to do is get an increased limit on your CC and potentially get a second card. I believe the "magic" average balance they like to see is something like 25-30% of available credit. So if you run-up $1500 a month on your CC, then you want a combined limit of $5-$6k.

  
  annualcreditreport.com is the site to go to for the free yearly report from each of the 3 big bureaus, not freecreditreport.com.
• gut

  killer_ewok;1212393 wrote:annualcreditreport.com is the site to go to for the free yearly report from each of the 3 big bureaus, not freecreditreport.com.

  Thanks for the clarification. I edited my post.
• killer_ewok

  

  gut;1212395 wrote:Thanks for the clarification. I edited my post.

  
  No problem.
• WebFire

  jmog;1211964 wrote: If for some reason I have to quickly move out of state for work I will care once again.

  In which case it will be too late if it isn't up to par.
• BigAppleBuckeye

  

  gut;1212391 wrote:You are entitled to a free report from each agency once a year (annualcreditreport.com). Just note you may have to cancel after viewing to avoid fees (you have like 7 days, they make you sign-up to view, but you can cancel at no cost).
  
  Take a look at each one and see if there are any derogatory items to clean-up. You other scores are pretty good, it depends on what one your bank will use. If you have a car financed and can pay that off, it will help. If you have a low remaining balance on student loans and can pay off, that helps your score. Aside from that, try not to apply for any credit anywhere at least 12 months prior to seeking your loan as inquiries and new lines of credit negatively affect you. It's possible the 686 has a bad mark that's an error - it happens.
  
  The other little known (and bizarre) fact is you can actually negatively affect your credit even if you pay your CC's off every month. The dirty trick is they look at average balances, so if you have 1 CC with a $2k limit that you run-up every month it hurts you, even if you always pay the full balance. In that scenario what you need to do is get an increased limit on your CC and potentially get a second card. I believe the "magic" average balance they like to see is something like 25-30% of available credit. So if you run-up $1500 a month on your CC, then you want a combined limit of $5-$6k.

  Thanks gut, good stuff. I actually belong to a BOA Privacy Assist program, where I can see my credit scores. The only difference I notice in the Equifax is that it didn't report one account from 13 years ago, BUT, that was just after college and I was a clown back then and was late all the time on that account. So the two bureaus with better scores have that account on file, but I guess my delinquencies were forgiven after the 7 year mark ... is the fact that that account is NOT on my Equifax report causing that much of a difference? And, if that is the difference, if I report this to Equifax, will putting a "bad" account on my credit card be a dumb move (I assume yes)?
• jmog

  Sage;1212344 wrote:where did i say credit ratings are racist, jmog? i just said it's something propogated by THE WHITE MAN, which is an undeniable fact. i doubt most credit card company CEOs are minorities. in fact, i'd be willing to bet most are stodgy, old, white, pasty, stiff-necked, pink penised sons-of-blisters.
  
  here's a fun thought experiment for americans, why do we need credit? so one day u can "own" a house? who gives a ****? u can't "own" anything. lol at u people and all your credit cards and buying things you don't need. credit is the parasite which has rotted our country since its inception. lol at u people buying things u dont need with money u dont have while people in this world starve. i'd be ****ing embarrassed 10x more than i already am.

  Ok, so credit ratings aren't racist, just you are then....got it.