Why credit repair [is|are] Hotter than Jennifer Lawrence | Deal New Jersey 07723 Monmouth NJ

I took out an equity loan, (no mortgage), and asked the the equity limit be limited to the actual the loan amount, so I could not draw any more out. My credit score was dropped 40 points by Experian. I called to ask why, and they explained that the loan I took out was at the credit limit, so my score was dropped. I explained, (and followed up with a letter to no avail), that the limit was one that I chose not the bank. I explained that the bank would have loaned me, or raised the limit to 3 times what I borrowed
The accumulation of wealth and experience over time is the most likely explanation for this. As people age, they also tend to grow more financially responsible and secure, qualities that lend themselves to credit improvement. And the more time you have, the more opportunity there is to recover from mistakes. Another reason is the way credit scores are calculated. The length of your credit history accounts for a significant portion of your score (around 15%), for one thing.
Consumers in their thirties are also showing an average credit score lingering around the 620 mark because this age group is more likely to need credit for major expenses and other debt that they had begun to accumulate.

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That’s a tough break man and I feel for you, but that kinda drives the point home. This isn’t a debate about fairness of job opportunities and longevity. In that situation you are a risk to a lender. Someone in a bad situation who you can’t be certain can pay back the loan. The score is a risk factor rating. The simplest example I can give is breaking it down to it’s most basic form. Someone wants to borrow money from you. A complete stranger. It’s not about how much you want to help someone in need. You have to decide based on how likely it is that person can pay you back when they’re supposed to. Are you more or less likely to believe they can pay you when they don’t have a job and already have outstanding debt and/or a plethora of other financial obligations?
Late Payments and Past Due Accounts: Late payments will remain on your credit report for seven years after the original delinquency date, which is when the account first became delinquent, or past due.
Do you have some kind of credit monitoring service with Experian? If you don’t then I would be concerned that this is some kind of phishing attempt to get your personal information. If you do have their service, then it sounds like you have reached a credit score goal…
Going forward, if you tend to carry high balances on your credit card accounts, then you may actually find that it will cost you more per month to carry these higher balances because the minimum amount due may be raised to accommodate for this trend.
Several factors affect individual’s credit scores. One factor is the amount an individual borrowed as compared to the amount of credit available to the individual. As an individual borrows, or leverages, more money, the individual’s credit score decreases.
I went through quicken loans for a refinance and my credit score got slammed and I got turned down double slam cause I don’t owe over a $100,000.,can’t win either way you go. From 725 down to 620,i’ll pay off what I have and the hell with this credit score crap and disappear and don’t give a dam what it ever becomes.
When determining if you are a good candidate, a lender will look at your credit scores. Most lenders use FICO scores, but some lenders are starting to look at VantageScores as well to further determine your future financial risk if they were to extend an offer of credit to you.
Do your credit scores sit somewhere between good and bad? If so, you’re in luck because we’ve reviewed a number of credit cards for average credit. Since these cards are developed for those with average credit or a limited credit history, you can rest easy knowing that they’re great options for your credit rating. But just because they’re for those with average credit, doesn’t mean these cards offer less-than-impressive rewards. In fact, our reviewed credit cards offer most of the same perks you’d get with a card for those with excellent credit, including 0% intro APRs on purchases and balance transfers, cash back rewards and no annual fees. Use our list of the best credit cards for average credit that we’ve reviewed to find the right card for your needs.
Carrying debt is a new(ish) idea and the first credit card came out in 1950. Before that began to take hold having debt was a bad thing. Now being irresponsible holding debt and never clearing up seems to get you the best shot at for being qualified for big purchases.
Having good credit is important because it determines whether you’ll qualify for a loan. And, depending on the interest rate of the loan you qualify for, it could mean the difference between hundreds and even thousands of dollars in savings. A good credit score could also mean that you are able to rent the apartment you want, or even get cell phone service that you need.
Ulzheimer says an 850 FICO score isn’t needed to gain the best interest rates or APRs on credit cards and loans. In fact, he adds, there’s not much difference in that regard between, say, 800 and 850. More than anything else, arriving at 850 merely gives you “bragging rights,” Ulzheimer says.
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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Bear in mind that the credit performance highlighted above is by no means universally representative. It’s certainly possible to achieve perfect credit with a different background. And it’s entirely possible that you won’t reach such heights even with this sort of exemplary record.
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Payment History: Paying your credit card bills and making loan payments on time will positively impact your credit score. Missing payments, making late payments, or paying less than the minimum payment can hurt your credit.
Even though it’s within the “fair” category, you can still do quite a bit in terms of loans. An FHA home loan, for example, only requires a score of 580 to qualify and take advantage of the program’s 3.5% down payment.
You can send a letter by certified mail with a return receipt request, so you can document when the dispute was sent and when it was received. Send all your information to the credit bureau that you are asking to investigate the item on the credit report. Making copies of what you send is also a good defense for if they say you never submitted enough evidence to support your claim.
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For those interested in going beyond credit-score averages, the following breakdown of where different groups of people fall on the standard 300-to-850 credit-score scale will give you a better understanding of just how much consumers’ financial experiences can vary. These statistics also show a clear divide between people with bad credit and the rest of us, which underscores the importance of using credit responsibly.

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