Comments on: What Is A Good Credit Score?

By: MyNameIs

MyNameIs — Fri, 27 Jan 2012 19:00:33 +0000

Someone earlier said that age has a lot to do with it but I disagree. I just turned 25 and I have scores of 823, 835, and 840. I have 2 credit cards with a total limit of $10,000 but carry a 0 balance. I have never had a late rent payment, utility, or bill of any kind. Not many different lines of credit but keeping a low balance if any and never ever paying anything late has helped me out so much.

By: david

david — Fri, 23 Dec 2011 10:29:04 +0000

I went to credit karma and my score was a 698. i went to may account at Transunion and my score was 783. it had just updated to a 783 but before that was a 760. somebody is wrong considering credit karma gets the score from Transunion.

By: Not exactly

Not exactly — Mon, 05 Dec 2011 16:43:24 +0000

You are correct, the 640 score is really the minimum you need in order to get a loan nowadays. The only thing I could tell you is that at 583 your score will raise somewhat dramatically with a little work and some patience. If you have some loans that have some late payments then use some of that money to pay off those loans. Pay your credit cards down below the 30% utilization and keep them down but use the cards every month at least once. Do not miss any payments on anything. Keep old accounts open. If you don’t have enough available credit then get a new credit card, this will help you out long term not short term. I bet you will jump to over 600 within 6 months if you do all that.

By: Not exactly

Not exactly — Mon, 05 Dec 2011 16:36:48 +0000

It will help in the amount you owe though. Once you have to start paying then the interest starts accruing. Paying some of it now will help get that number to a more reasonable amount.

By: Not exactly

Not exactly — Mon, 05 Dec 2011 16:32:26 +0000

Do not lower your credit score if you are looking to sell your house within a year and move to somewhere else. Not sure why you are even considering either of these options. Think about it….You are going to be leaving in a year so spending thousands on closing costs to lower your next 12 payments doesn’t make any sense. Neither does dropping your score 100 points if you plan on buying again. This shouldn’t even be a question, you suck it up for 12 months and do nothing, then you will be in a position to by your next place.

By: Not exactly

Not exactly — Mon, 05 Dec 2011 16:26:59 +0000

CreditKarma.com

By: Not exactly

Not exactly — Mon, 05 Dec 2011 15:56:22 +0000

Actually you are both correct. You should pay off all cards to below 30%. However, you should start with the ones with the highest interest rate because it will save you the most money. Get it below 30% and then pay off the next highest interest rate card to below 30%. This will help your credit the quickest. Once you have got them all below 30% then go back to the highest interest rate card and pay it off. Continue to use the cards every month but only for a few dollars.

If you charge $1 each month to each card, then that is enough to help your credit. You will have more available credit than if you close those cards out. Good luck.

By: Jasper

Jasper — Fri, 18 Nov 2011 08:59:19 +0000

Jasper.
I paid off three cards all at once and remove some bad info. my credit score and FICA jumped 150 to 200 across the boards. Im tying to say that your incharge

By: johnmonk

johnmonk — Thu, 10 Nov 2011 06:11:29 +0000

Piggy backing stopped about the time you wrote this. Now being on someone elses card has zero effect on your credit score.

By: johnmonk

johnmonk — Thu, 10 Nov 2011 06:10:00 +0000

Put everything you can in your name, and pay on time. It is your credit, your parents can not help or hurt it. You have to show a history of getting money, using it, and paying it back on time.

By: johnmonk

johnmonk — Thu, 10 Nov 2011 06:05:54 +0000

Try some credit cards from big name stores like Sears. Your credit score is good, I wish I had it. If I had your score I would have been able to buy my dream house last week.

By: johnmonk

johnmonk — Thu, 10 Nov 2011 06:01:56 +0000

Paying early is a waste of time, don’t pay until you are scheduled to pay, it won’t help your numbers.

By: johnmonk

johnmonk — Thu, 10 Nov 2011 06:00:34 +0000

Hogwash, sorry. The 500 and 580 numbers for FHA are useless, because no bank will give a loan to anyone under 620, with or without FHA backing, in fact is is almost impossible to get a loan with a 640 these days.
I have 40,000 in gifted funds to put down on a 99,000 property, my score is 583. The combined cost of mortgage and maintenance is 200 less than I have been paying in rent for the last 7 years, so of course I can afford it. And no one, not my bank of ten years, not quicken loans, no one will give me a mortgage. Brokers have gotten lazy, they only use the credit score, they dont care how much you put down anymore.

By: Mr. Goodwrench

Mr. Goodwrench — Sun, 02 Oct 2011 11:14:44 +0000

Helpfulguy Respectfully, I would pay on all my balances to get them to a 30% debt. If and only if the higher interest one is also the less availiable credit should you pay on it, otherwise the cards with the least availiable credit should be the ones to focus on. NOT the highest interest

By: glen

glen — Wed, 14 Sep 2011 00:48:40 +0000

I just pull up my credit score after 3 years today because i was scare that my score was going to be in the low 4′s to my amaze it was 776 I only have my daughter parent plus loan for her school in my name which the amount is 12,000 which i do not need to start paying until she gets out of school. I need to know should I start paying now or not