Comments on: What is the Average Credit Score?

By: Kathleen

Kathleen — Wed, 30 Nov 2011 14:24:34 +0000

I applied for a credit card, mind you, I just started to try and build credit around May. I got approved for Capital One, I applied for alot of cards during that time.. I applied for a best buy credit card and they said I had a 00209? Im not sure what that means? How long should I wait to apply for another credit card, I have been denied by a few due to to many inquires. Please Help!

By: Shaun

Shaun — Thu, 13 Oct 2011 07:55:17 +0000

It does not take bankruptcy. Before I got married my score was a 463, its actualluy very easy for it to get out of hand. finnaly figured life out and I am back up to a 600 4 years later.

By: Unkown

Unkown — Wed, 25 May 2011 04:05:05 +0000

Some of you all may want to consider piggy-backing. Ask a close relative whom you know for sure have good credit and pay bills on time to add you as an authorized user on their credit card. This will increase your score every time they make a payment. Just to put them at ease let them know you do not want to actually spend or use the card and to keep it for themselves. Once your score is good enough obtain your own credit and have them to remove you as the user on their cards.

By: Shine

Shine — Thu, 28 Apr 2011 03:02:50 +0000

Income to debt ratio is what scares me the most. I have over 100k in student loans, and my income is around 45k annually. I have actually thought about filing bk, not because I can’t afford to pay my minimum, but b/c i feel that fixing and working on my credit means nothing b/c of income to debt..
any advise?

By: Anonymous

Anonymous — Sat, 19 Feb 2011 21:56:03 +0000

i filed bankruptcy still have 590 i filed on house 4 cars and 11 credit cards so not sure how anyone gets below 500 unless right when get any credit and you never make single payment

By: Dan

Dan — Tue, 25 Jan 2011 05:31:10 +0000

Credit is a funny animal and actually easily manipulated. After being in the finance industry for most of my adult career here are a few things I have noticed. “debt to income” is just a model along with several others creditors use to support credit “worthiness”. The old adage applies of course, pay your bills on time. However, most will ignore medical bills up to $5,000 and most utility bills are reported. Credit cards can weigh heavy on score so keep them at 50% of credit limit or less as a rolling average. Pay more than the minimum on all loans. No matter what size the loan even $20 bucks extra adds up or pays down the loan faster by applying to principal. Ask questions like- do you have programs that decrease interest for timely payments or how often can I request a lower rate without refinance costs. The biggest mistake most people make is not having any savings. If you lose your job (we all know someone anymore) can you survive for 6-9 months without any income. This is typically what spirals people to bankruptcies and costs thousands when all said and done.

Pay on time
Use it wisely
Have a savings account
Live below your pay scale
**no more than 2 credit cards per person**

Again just some hints!

By: mike

mike — Mon, 18 Oct 2010 04:50:31 +0000

try http://www.creditkarma.com or search credit karma and get the link, you dont have to give any form of payment, it asks questions to varifi you are who you say…it will give you trans union score and you can check it regular…your score is probly better than you think….550 and up usualy to get a revolving credit card so i am sure your over that.

By: Anonymous

Anonymous — Thu, 07 Oct 2010 20:31:13 +0000

i suck my score is 498

By: Kay jenn

Kay jenn — Tue, 07 Sep 2010 03:34:33 +0000

Don’t go pay those third party sites!!! Write each bureau directly for you report. The third parties don’t have all the current and correct info…. Banks get and use the direct info. I learned this the hard way spending 3 months clearing incorrect info according to freecreditreport.com only to be unable to close on my dream home because of what was really erroueous on my acutal credit reports.

Bk isn’t necessarily a nuclear bomb to your fico, it depends if you let everything go late before filing. My ex made sure all payments stayed current and filed without a bunch of lates. He was able to get a home and bike loan after 2 years with good credit. If u have to file bk try to keep things current or file for court protection as soon as you know you are busted.

By: nicole

nicole — Wed, 14 Jul 2010 04:43:24 +0000

How do we stop our score from changing then? I haven’t been late on any payments, no new credit, no closing of any previous accounts, no new inquiries, yet my score drops close to 30 points every other month. For example:
Feb 620
March 590
April 626
May 588
June 612
I’ve called TransUnion and my reporting agency I pay and NOBODY has an answer! I’m so frustrated because I’ve been wanting to buy a home. Any ideas? Thank you

By: nicole

nicole — Wed, 14 Jul 2010 04:37:32 +0000

It takes a bankruptcy. I speak from personal experience.

By: Brad

Brad — Sat, 29 May 2010 19:17:53 +0000

Very true, such a myth this is.

Can anyone answer why Experian is always the lowest? Or at least in my case…

By: Anonymous

Anonymous — Thu, 14 Jan 2010 00:37:14 +0000

Wow, this is some very useful information. My current credit score is 681 through transunion. Not quite sure what I can do with it, but most of my life my score has been pretty bad so I am very proud of my current numbers.

By: Robert McFarlane

Robert McFarlane — Mon, 02 Nov 2009 02:48:38 +0000

Checking your own credit score doesn’t affect your credit score.

By: Kevin at OutOfYourRut

Kevin at OutOfYourRut — Sun, 05 Jul 2009 15:13:00 +0000

Michelle, based on my years of experience with credit reports, if your bankruptcy was discharged five years ago, you’ve re-established credit, and made your payments on time, you’re scores are probably well above 600, or even above 650. The key is the length of time without late pays, or other derogatory information.

Good luck with it, but it’s probably better than you think.