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As soon as the credit reporting agencies have the updated balances any credit score that is calculated will reflect that new information. It usually happens within 30 days or less, but depends on the reporting cycle. (Most lenders report monthly.)
I looked at my credit score this week and saw that it is at 681; which is up from the 674 it was at last month. I’m assuming it went up because the credit cards are going down. However, I don’t have any installment loans and I’m nowhere near needing to buy a new car. Any advice on how to bring it back up over 700 again? Thanks!
my house, paid for. car paid for, work truck paid for, I keep credit cards in the single digits utilization, currently less than 2%. My score is 753. whatever, I don’t need to buy a car or house or take out a loan to raise my score! geez, I still use 0% cards, usually with $100 or so bonus then more rewards. I only established any kind of score a couple years ago, reports said I had no history…takes time & for sure never miss a payment, maybe couple more years I might get up to 780?
It also does not help when the stock market crashes twice in the final 8 years of a person’s working years. There is nothing worse than having to live on Social Security because all you worked for in 45 years went down the tubes. That happened to a dear friend of mine who spent many years since high school and the military working as a mechanic. The only thing that allows him to live on SS is because his health care is free with the VA from his military during Vietnam. And his non-taxable income (tiny) as a Commander at an American Legion.
Fair credit may not be the best of credit, but there’s hope. With the average VantageScore at 675, that’s right in the middle of what the scoring model deems fair or what is sometimes called average. With fair credit, you can build your score, earn some rewards and develop good financial habits.
35%: payment history: This is best described as the presence or lack of derogatory information. Bankruptcy, liens, judgments, settlements, charge offs, repossessions, foreclosures, and late payments can cause a FICO score to drop.
Why does my FICO scre continue to change? It fluctuates fron 832 to 826. I do nothing different…..pay my cards of constantly and some have negative balances (meaning I overpaid and the CC owes me money).
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The important thing is to use the same score every time you check. Doing otherwise is like trying to monitor your weight on different scales — or possibly switching between pounds and kilograms. Some sources may be using a different scale entirely.
2. Minimize use of available credit. Usually the second most important factor in your credit score is how much debt you have compared with the amount of available credit you have, Detweiler says. Those with a credit score of 800 use only 7% of their available credit, on average, according to myFiCO.com. But most consumers with a score of 650 have maxed out their available credit.
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I have friends who believe that having everything paid for in cash and no credit cards or loans is the way to live, and yes, that would be ideal, but what happens when you suddenly need a line of credit to buy a home, a large purchase (appliances) or need to pay medical bills. You suddenly need a loan and lenders cannot know whether they can trust you to payback a loan without a history, and you may not be granted the loan. 
Credit cards and loans can affect your credit differently. Credit cards are revolving accounts whereas most loans are installment accounts. A mix of different types of accounts can be useful. Do you have any credit cards or loans now?

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Engineered Reality, what do mean “by taking out a secured loan against himself.” I am out of bankruptcy for over a year now and tryin to rebuilt my credit. these past few monthsn I have seen my credit score jump from 649 to 682 now.
The most popular statistical technique used is logistic regression to predict a binary outcome: bad debt or no bad debt. Some banks also build regression models that predict the amount of bad debt a customer may incur. Typically this is much harder to predict, and most banks focus only on the binary outcome.
When it comes to your credit score, the higher it is, the better – as your score increases, so will the perks and rewards, while the interest rates and fees decrease. However, a credit score above 750 is already considered excellent, and striving to achieve a perfect 850 will not provide much of a difference. Once an individual is in the excellent credit range, there’s little more he or she can do to get access to even greater interest rates and financing.
Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.
FICO scores range from 300 to 850, where 850 is considered to be the best score achievable. According to myFICO.com, a division of the Fair Issac Corporation, only 13% of the U.S. population has a FICO score greater then 800, while only 2% has a FICO score lower then 500. The largest proportion of the population, 27%, has a FICO score between 750 and 800. (To learn more about how your FICO score is calculated, see How Is My Credit Score Calculated?)
Cut all mine in half 20 years ago, paid them all off. Never went back. Married, 2 kids, 4 cars and a decent mortgage rate. Live on cash and savings and lay away plans. In 20 years I have learned one thing, credit cards are GARBAGE. Live within your means even if its poor and making balogna sandwiches for lunch and telling people at the office “Nope, packed my lunch.” and driving a beat up car. Trust me. Never went back, have more left on my paycheck to save and put away and best thing I ever did. I still can buy a car and house juuust fine. The offers come in the mail, I rip then in 1/2 and throw them in the trash without a second thought.
There is a 91-point difference between the average scores of those in the oldest bracket of consumers and those in the youngest group, according to a new analysis that FICO performed for MONEY. With each decade, the average score increases by about 20 points.
3. Maintain low or no balances. People with excellent credit almost always keep low balances on their credit cards, and often don’t pay interest because they pay their balances in full every month, says Jason Steele, a credit card expert for CompareCards.com. In other words, they only use cards for things they can afford to pay off with cash, he says. To become disciplined with credit and avoid racking up balances, Steele recommends logging into your credit account online after making a purchase to pay it off. If you’re already carrying a balance, see How to Pay Off Your Credit-Card Debt in a Year for steps to pay off what you owe.
Good for you Retired . I made it to 55 1/2 …. They needed me on the project I was on . Who the heck wants too work till they die . If you know any ” tax loopholes ” for the average guy let me know Can’t afford a lobbyist …
Credit scores look at your reported credit history to gauge the likelihood that you will repay borrowed money; you can be deep in debt and still have great credit scores if you have paid all your bills on time.
The use of credit information in connection with applying for various types of insurance or in landlord background checks has drawn similar amounts of scrutiny and criticism. This is because the activities of finding secure employment, renting suitable accommodation and securing insurance are the basic functions of meaningful participation in modern society, and in the case of some types of auto insurance for instance, are mandated by law.[32]
Debit is good & it gives you a good standing with the banks. Cap One has been my 2nd card & 3rd cards. They should start you off with a small limit but will raise it if you pay on time. Make sure you never, ever go over the 30% ratio as this will give you a higher score down the road & shows them your responsible.
Individuals with fair credit can still qualify for mortgages, car loans and some credit cards with a sufficient income. For example, many mortgages require a minimum credit score of 620. But keep in mind that with a fair credit score, you will more than likely pay a higher interest rate than if you had good or excellent credit.
I don’t think it’s unreasonable for the landlord to request this. He or she doesn’t know there is nothing to report. You can ask the landlord if he will accept your son’t report from AnnualCreditReport.com (and if there is no report he should get a notice to that effect which you could potentially share with him.) But the reports landlords order sometimes include criminal background checks as well, and that wouldn’t show up there.
im 19, and have a score of 750. on my 18th birthdya i went to my credit union and got a student credit card, and then proceded to pay it off in full every month. i then got a Macys credit card and paid that off in full. three months later i got a nordstrom credit card and that dropped my score by a hundred points almost. i was looking at a 680. so for six moths i balanced the three credit cards making sure my credit utilazatuion was under thirty percent and paying off almost everything. Because i am impulsive i got in way over my head with shopping and found myself spending my whole pay check to cover myt losses. i soon started a budget for my self and stop using both store cards for awhile. my Macys card raised my credit limit, which helped me lover my credit utilaztion score. My nordstrom sis the same and i paid both off and now barely use my one student credit card. i use each only once a month to buy something under thiry bucks from each store to show i have good standing. i have never missed a payment on all three cards. i now i have a score of 750 again since six mothns has passed since i open my nordstom card. all in all, i have learned my lesson, but am still frustrated by how easy it is to swipe without thinking. This has lead me to leaving my cards at home or in my car. i guess for me it was harder than some because i worked in a mall and was surronded by retail. Now im happy with my score and i got a job at a bank, and i now save money while paying off my student loans. i guess what angers me the most is seeing how much i spent with those two cards and realizing i could have paid of my student loans. i hope other people find something to learn from my story
Yes, you can, but not by using the standard credit scoring models. The most popular credit scores, including VantageScore 3.0 and 4.0 and FICO 8 and 9, all use the standard range of 300 to 850, so a credit score of 900 isn’t possible with those models. But some older models, as well as some alternative scores, do go up to 900 (or even beyond). You can learn more about credit scores with unusually high ranges here: https://wallethub.com/edu/900-credit-score/39567/. That being said, a credit score of 900 is not very relevant. You probably won’t encounter these ratings often, so you should rather pay attention to where you stand on the standard credit score range. You can figure that out easily by checking your latest credit score for free on WalletHub. Hope this helps!
Don’t close your old card. Once your credit score has risen to the point that you can apply for a better card, don’t close or stop using your card for fair credit. By continuing to use it, as least for small charges, you keep the account active, continuing to build credit with it, and you increase your available credit.
But that doesn’t mean you should apply for every line of credit you’re offered. Multiple inquiries from lenders for your credit reports in a short period can trim your score, especially if you don’t have many credit accounts or you have a short credit history. Be especially careful when car shopping because Detweiler has heard lots of complaints from consumers whose scores dropped when they had several dealers pulling their reports for financing options. Rather than let a dealer shop your credit, choose a lender you like beforehand and get pre-approved for a loan.
In this particular situation about achieving a perfect credit score, we must first ask why? What is the goal? Let’s think about it in terms of other life choices. If you have an “A” in a class you’re taking and you will be able to maintain that grade regardless of the outcome of your final exam, how hard do you study for the final? If your apartment is sparkling clean, do you get down on your hands and knees to further scrub the corners with a toothbrush?

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