What's your credit score?

[Mo707]

doesn't checking your score make it go down?

[Andrew025]

Originally Posted by Teseo

I pay everything with cash so doesnt need the "credit". Hookers dont allow credit cards also.

Not everyone is a baller like you apparently.

[juliog]

Originally Posted by Teseo

I pay everything with cash so doesnt need the "credit". Hookers dont allow credit cards also.

Technically, you're better off financing if you have investments with annual returns that offset the interest on the car loan.

Originally Posted by Teseo

Hookers dont allow credit cards also.

These days, many of them do...

[Foobar]

Interesting, thanks for the heads up. I'm at 825 and the two areas that aren't in the excellent range are age of accounts - 8 yr 8 m when excellent is 9+, and recent inquiries in past 2 years is 2 (bought two cars) and excellent is 0-1.

What's a perfect.score, 850?

Sent from my Nexus 5 using Tapatalk

[pche]

Asian

[-AP-]

Originally Posted by Mo707

doesn't checking your score make it go down?

I think it depends on who and why.. here is a copy/paste from http://www.myfico.com/crediteducatio...inquiries.aspx


How much will credit inquiries affect my score?
The impact from applying for credit will vary from person to person based on their unique credit histories. In general, credit inquiries have a small impact on one's FICO score. For most people, one additional credit inquiry will take less than five points off their FICO score. For perspective, the full range for FICO scores is 300-850. Inquiries can have a greater impact if you have few accounts or a short credit history. Large numbers of inquiries also mean greater risk. Statistically, people with six inquiries or more on their credit reports can be up to eight times more likely to declare bankruptcy than people with no inquiries on their reports. While inquiries often can play a part in assessing risk, they play a minor part. Much more important factors for your score are how timely you pay your bills and your overall debt burden as indicated on your credit report.
_____________________________________

I try to tell my kids that the absolute number 1 thing to keep in line is your credit score. That's the number 1 killer for car loans, home loans and even insurance. I feel bad for family members that have to pay high interests rates. It's almost counter intuitive that people without a lot of money and poor credit get hit harder making it more difficult to survive. I do understand the risk premise to the lender though, so it is what it is...

My Discover card gives my score monthly as well for free, but it's nice to compare....

[Model Citizen]

according to credit karma i need to maintain a balance instead of paying off the 2-4k a month i charge (business expenses, personal, and maximizing rotating categories for rewards). They also think i need to simultaneously up the average age of my accounts while nearly doubling the number of accounts I have.

[Kiske]

Originally Posted by Model Citizen

according to credit karma i need to maintain a balance instead of paying off the 2-4k a month i charge (business expenses, personal, and maximizing rotating categories for rewards). They also think i need to simultaneously up the average age of my accounts while nearly doubling the number of accounts I have.

I had the same problem. Leaving a 10% balance on cards has actually done good in the past 6 months. Though it feels very akward to not pay them off.

Mine is around a 690 (EX) was at 762 last year but, after paying off 5 loans, closing 7 junk credit cards and taking out a couple car loans it went down a lot. I expect it to be right back up where it was by winter this year.

[Burrcold]

Keep in mind that this is a FAKO score and not FICO. If you really want to know how most lenders are going to see your credit score, pull your FICO score as well since this is what they use.

[jflogerzi]

759 28 with a house and car

[M23]

Anyone else file bankruptcy here before?

I did so, about 3 years ago, so it was pretty pointless to attain my score right after filing - knowing that it would be super low. But, I do check the 3 free reports you can get per year (doesn't include credit scores though).

I was pretty credit-immature back then, and crazy in debt from store cards - camera stores (the big doozy..these guys approve anyone for $5k lol), best buy and electronic stores and regular CCs. Long story short; I was fed up of struggling to pay crazy high monthly's for all these CC's and store cards. I was in the hole around $25k total. So, I filed bankruptcy about 3 years ago and wiped all that debt clean. It felt good to be debt free (like a breath of fresh air); but, at the same time, I knew my credit was fcked from that bankruptcy.

Fast forward 3 years later after I filed for bankruptcy, I checked my score today. And, I was a little surprised my score wasn't super bad. My 2 scores were 664 (Equifax) and 679 (Transunion). I know it's not nearly close to all the super great scores in the 700s/800s all you guys and other credit-responsible are getting. But, heck, I was honestly expecting a score in the 500s to low-600s from the bankruptcy.

Of course and obviously, I want to repair it and at least get into the 700s. I think time is the big one correct? (especially for bankruptcy; as it doesn't completely clear from your reports until after 8-10 years).

Currently, I have zero CCs and zero balances. So, I am just letting time and "age of credit" do the work; which it seems to be doing a good job at.


Here's what my summary looks like:
CC Utilization: 0% (Excellent)
Payment History: 100% (Excellent)
Derogatory Marks: 1-2 (Fair-Poor) (from the bankruptcy obviously)
Age of Credit History: 8.5 years (Good)
Total Accounts: 21-22 (Excellent)
Credit Inquiries: 0 (Excellent)

[Andrew025]

Originally Posted by Model Citizen

according to credit karma i need to maintain a balance instead of paying off the 2-4k a month i charge (business expenses, personal, and maximizing rotating categories for rewards). They also think i need to simultaneously up the average age of my accounts while nearly doubling the number of accounts I have.

Now that you mention that, I've noticed mine went down like 10-20 points since I last checked a year ago. The only thing I've been doing different is paying off the balance every month on my amex(around the same $$ amount as you).

I don't understand who comes up with this stuff.



Edit: old thread is old

[0351USMC]

After 2 divorces before 30 I can still pull a 712.

[Burrcold]

Originally Posted by 0351USMC

After 2 divorces before 30 I can still pull a 712.

Whoa!