What's your credit score?
12-13-2005, 11:49 AM
#41
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Originally Posted by Shoofin
861 doesn't make any sense...Like other stated, highest is 850. What's to say that you didn't change the number before posting it? 
861 is what the report gave me. why don't you go run the transunion report on yourself? then you can see the 400-925 scale for yourself.
12-13-2005, 11:50 AM
#42
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Originally Posted by Scrib
861 and you're only 87th percentile???
try again.
I'll give you the same request I gave the other one, go run the report for yourself. You'll see the 400-925 scale.
by stating I have an 861 score I'm not bragging. Geez, it's only 87th percentile like you say.
12-13-2005, 12:30 PM
#46
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Well I guess I am the winner here.
798. And I'll be damned to know what I have to get the other two. Plenty of people were close to me though. I've bought 7 acuras from the same dealer since 1992, and as long as they know me so well, they don't even bother with a credit check. They just write out the sales papers.
When I got my first home, a condo, I got into trrrible credit card debt with home projects. Over $18,000 in debt. It took time and dicipline, but I finally got that monkey off of my back, and never again!
And to this day, I charge damn near everything, but I never carry a credit card balance. My charge limit is $32,500, and I have helped a friend in a pinch out when his car was destroyed, and I charged a used $9,000 Integra for him, same day.
Here are some philosophy and rules for you. Everybody gets into trouble with money when they are young. It took my niece years after she got her first checking account that she could jut not "write money." Any rule I personally follow will have a "*" preceding it.
First off, credit cards are not necessarily bad, but they must be respected. I have two from two distinctly different banking systems, and only one of those cards has that $32,500 limit. I do this in case I am out of town, where I use credit cards alot, and I was always worried about a main bank fire/computer failure, etc. The minor card has a $6,000 limit.
Credit cards can be used to build your credit, so you SHOULD use them. But do it responsible. Your money should be in an interest bearing checking account or savings account, i.e. in a bank, but here is a trick for you early credit card users.
Grab an envelope and label it "Credit Card". Now, go use your credit card. You charge $30 for gas for the car. Fine, you return home, now you take $30 out of your wallet, and put it in the envelope. Do this faithfully, with every purchase you make, you will have the cash to put in the bank the day your statment arrives. And you WILL get a statement every 30 days, and if you do not pay it off in full, you WILL be charged intrest and it can be pretty steep!
****There is absolutely no reason for bills to lay around the house, perhaps with the exception of the mortgage, which can be a big bill. The day a bill comes in is the day a check should be written out (you should already have money in the bank to cover it), stamped and mailed the next morning. No exceptions, period. It becomes a habit. Those people who throw the bills on the top of the fridge and wait to pay them at the end of the month are idiots!
****Write out an ANNUAL bill paying schedule, and include a contingency fund. Yes, everybody gets a gas, an electric, a phone, and a mortgage or rent bill every month, and for those of you who have them, the car payment. What we forget about is the home insurance, the licence plates, the car insurance, the vehicle stickers, the doctors and dentists and the out of warranty car repairs. Failing to plan is planning to fail!
****Overpay your big bills. Credit card bill and mortgage, and do it in a timely fashion. For instance, if my credit card bill is $653.02 for the last month, I just write out a $1,000 check, and send it to them the next day. This way I am about $350 ahead for next month, and I have bought myself a "safety cushion" if something unforseen happens. And try to get that CC bill out the door as soon as possible. They DO note if the check arrives on the fifth of one month or the fifteenth of the next. Consistiencey improves your credit score.
****Rent. Unless there are special conditions (temporary relocation), paying a landlord rent is throwing money down a rathole. All you are doing is paying him so he can pay the mortgage on his rental property, which in most, but not all cases, will do nothing but appreciate. You are putting money in his pocket. Not yours. Now what kind of sense is that? Beg and plead with your parents to help you purchase a condo, townhome or modest house. It need not be a palace. It may be a stretch at first, as renting is generally cheaper, but as you grow older, in the workplace, if you're worth a shit at all, your salary should increase, and things will get easier. Most parents will be happy to help you out.
****Mortgage. Overpay that also. With my mortgage company, everytime they get a check from me, their computer generates a statement, and I get that back about ten days after I mailed the last one. For instance, when the new bill comes (it's around $860 per month), I just look in the checkbook, and if there is $1,300 available, I will send them probably $1,200. Right now, my mortgage is paid through April, 2006.
The whole idea here is that if you are a heavy credit card user and hold a mortgage, and are in debt, but this can be good debt, this really is their money, not yours. If you don't believe me, just quit paying your bills, and watch the late charges pile up.
I hope this helps. No sense beating your head against a wall.
When I got my first home, a condo, I got into trrrible credit card debt with home projects. Over $18,000 in debt. It took time and dicipline, but I finally got that monkey off of my back, and never again!
And to this day, I charge damn near everything, but I never carry a credit card balance. My charge limit is $32,500, and I have helped a friend in a pinch out when his car was destroyed, and I charged a used $9,000 Integra for him, same day.
Here are some philosophy and rules for you. Everybody gets into trouble with money when they are young. It took my niece years after she got her first checking account that she could jut not "write money." Any rule I personally follow will have a "*" preceding it.
First off, credit cards are not necessarily bad, but they must be respected. I have two from two distinctly different banking systems, and only one of those cards has that $32,500 limit. I do this in case I am out of town, where I use credit cards alot, and I was always worried about a main bank fire/computer failure, etc. The minor card has a $6,000 limit.
Credit cards can be used to build your credit, so you SHOULD use them. But do it responsible. Your money should be in an interest bearing checking account or savings account, i.e. in a bank, but here is a trick for you early credit card users.
Grab an envelope and label it "Credit Card". Now, go use your credit card. You charge $30 for gas for the car. Fine, you return home, now you take $30 out of your wallet, and put it in the envelope. Do this faithfully, with every purchase you make, you will have the cash to put in the bank the day your statment arrives. And you WILL get a statement every 30 days, and if you do not pay it off in full, you WILL be charged intrest and it can be pretty steep!
****There is absolutely no reason for bills to lay around the house, perhaps with the exception of the mortgage, which can be a big bill. The day a bill comes in is the day a check should be written out (you should already have money in the bank to cover it), stamped and mailed the next morning. No exceptions, period. It becomes a habit. Those people who throw the bills on the top of the fridge and wait to pay them at the end of the month are idiots!
****Write out an ANNUAL bill paying schedule, and include a contingency fund. Yes, everybody gets a gas, an electric, a phone, and a mortgage or rent bill every month, and for those of you who have them, the car payment. What we forget about is the home insurance, the licence plates, the car insurance, the vehicle stickers, the doctors and dentists and the out of warranty car repairs. Failing to plan is planning to fail!
****Overpay your big bills. Credit card bill and mortgage, and do it in a timely fashion. For instance, if my credit card bill is $653.02 for the last month, I just write out a $1,000 check, and send it to them the next day. This way I am about $350 ahead for next month, and I have bought myself a "safety cushion" if something unforseen happens. And try to get that CC bill out the door as soon as possible. They DO note if the check arrives on the fifth of one month or the fifteenth of the next. Consistiencey improves your credit score.
****Rent. Unless there are special conditions (temporary relocation), paying a landlord rent is throwing money down a rathole. All you are doing is paying him so he can pay the mortgage on his rental property, which in most, but not all cases, will do nothing but appreciate. You are putting money in his pocket. Not yours. Now what kind of sense is that? Beg and plead with your parents to help you purchase a condo, townhome or modest house. It need not be a palace. It may be a stretch at first, as renting is generally cheaper, but as you grow older, in the workplace, if you're worth a shit at all, your salary should increase, and things will get easier. Most parents will be happy to help you out.
****Mortgage. Overpay that also. With my mortgage company, everytime they get a check from me, their computer generates a statement, and I get that back about ten days after I mailed the last one. For instance, when the new bill comes (it's around $860 per month), I just look in the checkbook, and if there is $1,300 available, I will send them probably $1,200. Right now, my mortgage is paid through April, 2006.
The whole idea here is that if you are a heavy credit card user and hold a mortgage, and are in debt, but this can be good debt, this really is their money, not yours. If you don't believe me, just quit paying your bills, and watch the late charges pile up.
I hope this helps. No sense beating your head against a wall.
12-13-2005, 01:32 PM
#49
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And oddly enough...
The Bush administration (I am not getting political here) changed bankruptcy rules a while back, forcing many people to file for bankruptcy before the harsher rules took place.
Intrestingly, the same people who filed for BR, are getting credit card offers in the mail!
Seems the credit card companies consider these people fiscally responsible.
Go figure.
Intrestingly, the same people who filed for BR, are getting credit card offers in the mail!
Seems the credit card companies consider these people fiscally responsible.
Go figure.
12-13-2005, 01:41 PM
#51
You can have higher then 850. Each credit place has a different score range. Transunion does go to 925.
Before I bought my CL I was at 760. Have 2 cards. $2500 limit & $4500 limit, & about $1200 balances.
Also that 7 year crap is right on. My score was in the low 600 range untill they fell off my record at the 7 year mark. Before that I was always denied credit because of those marks. The letters always stated I was denied cause I show serious delenquency in my past.
Before I bought my CL I was at 760. Have 2 cards. $2500 limit & $4500 limit, & about $1200 balances.
Also that 7 year crap is right on. My score was in the low 600 range untill they fell off my record at the 7 year mark. Before that I was always denied credit because of those marks. The letters always stated I was denied cause I show serious delenquency in my past.
12-13-2005, 01:50 PM
#52
Team Owner
I had a 790 before I bought my current house. My wife had an 810 and doesn't even work
Regardless, those scored payed off because I needed to get into my new house before my old one was sold (closed a month after the other house). I was able to get an incredible amount of money. The payments came to 90% of my monthly income (current mortgage, home equity loan to use as a deposit on new house, and new mortgage). They told me they wouldn't give that to just anyone
. Now I'm just back to one mortgage. 
I'm afraid to look at my score now, but I had no problem opening up a charge account at Home Depot with a 15k limit. I only wanted the card to get a 10% discount on a snow thrower.
Regardless, those scored payed off because I needed to get into my new house before my old one was sold (closed a month after the other house). I was able to get an incredible amount of money. The payments came to 90% of my monthly income (current mortgage, home equity loan to use as a deposit on new house, and new mortgage). They told me they wouldn't give that to just anyone
. Now I'm just back to one mortgage. I'm afraid to look at my score now, but I had no problem opening up a charge account at Home Depot with a 15k limit. I only wanted the card to get a 10% discount on a snow thrower.
12-13-2005, 02:45 PM
#53
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You guys are all so confused about everything. I just don't have the time to get into it.
Briefly, closing accounts will hurt credit. It will take 60-90 days for the paid accounts to reflect. There are various scores and typically above 700 is considered excellent. 660 is average in the country, below 620 you are high risk, below 600 you are f ed, below 500 no dice, try again.
The only reliable source for the credit report is www.annualcreditreport.com or call 1-877-322-8228
Briefly, closing accounts will hurt credit. It will take 60-90 days for the paid accounts to reflect. There are various scores and typically above 700 is considered excellent. 660 is average in the country, below 620 you are high risk, below 600 you are f ed, below 500 no dice, try again.
The only reliable source for the credit report is www.annualcreditreport.com or call 1-877-322-8228
12-13-2005, 03:03 PM
#54
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Originally Posted by surtic
861 is what the report gave me. why don't you go run the transunion report on yourself? then you can see the 400-925 scale for yourself.
I'm in the car business, I run credit checks all day long.
12-13-2005, 04:18 PM
#55
Suzuka Master
Originally Posted by Shoofin
I'm in the car business, I run credit checks all day long.
12-14-2005, 04:31 PM
#59
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Can i check my credit score for free? (I have no clue what it is)
If so, where?
Does it hurt you to check your credit score? (i heard it can)
If so, where?
Does it hurt you to check your credit score? (i heard it can)
12-14-2005, 05:12 PM
#60
Suzuka Master
https://www.annualcreditreport.com/cra/index.jsp
I haven't used this site, but I think that will have all 3 agencies check it. I heard a pretty good idea to just have one agency check your credit every 4 months since you get a free check once a year from each place. Don't know how that works though.
I haven't used this site, but I think that will have all 3 agencies check it. I heard a pretty good idea to just have one agency check your credit every 4 months since you get a free check once a year from each place. Don't know how that works though.
12-15-2005, 12:05 AM
#63
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there are 3 types of Scores,
FAKO, FICO, Auto/H 5.0 (used by car dealers) and whatever score TU, EX and EQ use on there own websites.
For your real FICO scores which Credit Card companies to Banks, and most lenders, go to MYFICO.com Everything else is could be off by -/+ 100 points.
You have to pay but aleast you get accurate scores....
www.myfico.com
and when it asks for a discount code use CPPSAVINGS for 20% off.
You can get your 3 Credit reporting agencies FICO scores with the above link.
FICO scores range from 300-850.
Also some good infomation about FICO Scores.
http://www.myfico.com/CreditEducatio...YourScore.aspx
FAKO, FICO, Auto/H 5.0 (used by car dealers) and whatever score TU, EX and EQ use on there own websites.
For your real FICO scores which Credit Card companies to Banks, and most lenders, go to MYFICO.com Everything else is could be off by -/+ 100 points.
You have to pay but aleast you get accurate scores....
www.myfico.com
and when it asks for a discount code use CPPSAVINGS for 20% off.
You can get your 3 Credit reporting agencies FICO scores with the above link.
FICO scores range from 300-850.
Also some good infomation about FICO Scores.
http://www.myfico.com/CreditEducatio...YourScore.aspx
Last edited by F900; 12-15-2005 at 12:09 AM.
12-15-2005, 12:21 AM
#64
Moderator
Originally Posted by kurt_bradley
Actually, they changed the points scale on SATs about 2 years ago that now allows higher scores to be achieved. Though when I took mine back in HS (way back when...I graduated in 98), I got a 1460...and then a 31 on my ACT.
Damn...that's a good score.
New one is out of 2400, FYI, and launched a few months ago. Math now includes AlgII, but with verbal, analogies are gone and replaced with a critical reading section. There is now an essay section, where you are given 25 mins to write an essay (easy) to a given prompt, generally a 5 paragraph essay.
12-15-2005, 02:32 PM
#67
Drifting
Originally Posted by surtic
I'll give you the same request I gave the other one, go run the report for yourself. You'll see the 400-925 scale.
by stating I have an 861 score I'm not bragging. Geez, it's only 87th percentile like you say.
by stating I have an 861 score I'm not bragging. Geez, it's only 87th percentile like you say.
12-15-2005, 03:21 PM
#68
Burning Brakes
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The last time I checked my score was 760.
There is nothing wrong with using credit cards. I have 4 major credit cards with limits totaling almost $100K and every time I checked my score it has never been lower than 750. As long as you're responsible and don't get yourself if major debt, you will be fine.
There is nothing wrong with using credit cards. I have 4 major credit cards with limits totaling almost $100K and every time I checked my score it has never been lower than 750. As long as you're responsible and don't get yourself if major debt, you will be fine.
12-15-2005, 03:23 PM
#69
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Originally Posted by mantis23
Can i check my credit score for free? (I have no clue what it is)
If so, where?
If so, where?
Originally Posted by mantis23
Does it hurt you to check your credit score? (i heard it can)
Checking your FICO score can hurt your credit
Unfortunately, I heard this one from a mortgage broker who is otherwise pretty smart. He was confused about which type of inquiries hurt your score and which don’t.
Applying for new credit is generally what hurts your score. Ordering a copy of your own credit report or credit score doesn’t count. Those mass inquiries made by credit card lenders, who are trying to decide whether to send you an offer for a pre-approved card, also aren’t going to hurt you, either -- unless you actually take them up on their offers.
If you want to minimize the damage from credit inquiries, make sure that when you shop for a mortgage you do so in a fairly short period of time. The FICO score treats multiple inquiries in a 14-day period as just one inquiry and ignores all inquiries made within 30 days prior to the day the score is computed.
For most people, one inquiry will generally knock no more than 5 points off a score (and scores typically run from 300 to 850, so that’s not a big percentage).
By Liz Pulliam Weston
12-15-2005, 03:27 PM
#70
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Originally Posted by Rock2534
I hear you, i ran the transunion one a few months ago and it came back with a 920 for me, which was a little confusing to me. My mortgage broker told me it was 820 when i bought my house about a year and a half ago.
Something tells me though that someone will raise the
flag on you for your 920.
Last edited by cazzy; 12-15-2005 at 03:30 PM.
12-15-2005, 03:28 PM
#71
747 according to Experian for mine.
12-15-2005, 06:10 PM
#72
I love cars!
533...:ouch: obviously a few bumps and bruises I need to clear up. Mostly smallish (<$2000) accouants I just need to settle up with so they can be closed. Ahh, the indiscretions of my youth.
12-15-2005, 06:12 PM
#73
I love cars!
Originally Posted by Dfreder2
798. And I'll be damned to know what I have to get the other two. Plenty of people were close to me though. I've bought 7 acuras from the same dealer since 1992, and as long as they know me so well, they don't even bother with a credit check. They just write out the sales papers.
When I got my first home, a condo, I got into trrrible credit card debt with home projects. Over $18,000 in debt. It took time and dicipline, but I finally got that monkey off of my back, and never again!
I hope this helps. No sense beating your head against a wall.
When I got my first home, a condo, I got into trrrible credit card debt with home projects. Over $18,000 in debt. It took time and dicipline, but I finally got that monkey off of my back, and never again!
I hope this helps. No sense beating your head against a wall.
12-16-2005, 08:09 AM
#74
Drifting
Originally Posted by cazzy
I have also not heard of a 920 score but more power to you if that is true. An 820 is also pretty impressive as well.
Something tells me though that someone will raise the flag on you for your 920.
Something tells me though that someone will raise the
flag on you for your 920.
12-16-2005, 10:19 AM
#75
Burning Brakes
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Fast TL:
The answer to your question is easy:
One, you are overspending. Stop doing that
Two, you can keep using credit cards, but everytime you get a statement, send in FAR MORE than the minimum required payment. With some credit cards, the minimum required payment is designed to hold your balance "static". Therefore, perpetuating the interest penalty forever!
Three, sacrifice. Stay in, eat in, and shop cheaply and wisely.
Four, save your credit card bills, and stack them top to bottom with the oldest on the bottom. Give yourself a big pat on the back each month as you watch your outstanding balance go down.
And five, it's ok to use OPM (other peoples money). Just realize it's OTHER PEOPLES MONEY.
One, you are overspending. Stop doing that
Two, you can keep using credit cards, but everytime you get a statement, send in FAR MORE than the minimum required payment. With some credit cards, the minimum required payment is designed to hold your balance "static". Therefore, perpetuating the interest penalty forever!
Three, sacrifice. Stay in, eat in, and shop cheaply and wisely.
Four, save your credit card bills, and stack them top to bottom with the oldest on the bottom. Give yourself a big pat on the back each month as you watch your outstanding balance go down.
And five, it's ok to use OPM (other peoples money). Just realize it's OTHER PEOPLES MONEY.
12-16-2005, 06:18 PM
#78
I guess the FX35 being repurchased with the loan paid off helped - same with the totaled TL being paid off - and the RL almost fully paid. 
But, what is scary is, a couple major credit card companies have sent me cards with huge credit limits. I accepted, but one of them sits in my file cabinet, the other I use a little and just pay off every month. I don't want to get stuck with thousands of dollars in credit card debts.
12-17-2005, 01:39 AM
#79
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Originally Posted by fast-tl
^^ The world is pretty much your oyster if you're above 700.
Not really...
Person X has 10TLs (trade lines) which include a Auto and house loan, good credit limit on credit cards, perfect payment history. FICO Score 730
Person Y has 2 TLs which are credit cards perfect payments but only have a $1000 limit on each FICO Score 730
Person X and Y go into a BMW dealer a 525i lease... Who you think is going to get approved.... Person X, Person Y does not have a pot to piss in even thought he/she has a 730 FICO.