credit scores

300-499

4 (15.4%)

500-599

0 (0%)

600-650

2 (7.7%)

651-699

3 (11.5%)

700-750

6 (23.1%)

751-799

2 (7.7%)

800+

2 (7.7%)

don't know

7 (26.9%)

Total Members Voted: 14

[blackie]

"credit score range is between 300 and 850
 
...
 
In the eyes of most lenders, FICO credit scores above 700 are very good and a sign of good financial health. FICO scores below 600 indicate high risk to lenders and could lead lenders to charge you much higher rates or turn down your credit application."

[BonerJoe]

I have no idea, but I know it sucks.

[DogOn]

whatever one you get when you've never had a loan or credit card or registered employment, thats the one I got.

[blackie]

This is for Americans only. USA USA USA

[blackie]

I got mine and the wify's in the mail today.

It's funny cus her score is better than mine, and she hasn't worked in 10 years, and has more student loans than me. Her score is getting close to 800. When I took out a mortgage 4 years ago, I didn't put her on it cus I didn't think it would help. She has no income, and a bunch of debt.

[blackie]

http://en.wikipedia.org/wiki/Credit_score

United States of America

In the United States, a credit score is a number based on a statistical analysis of a person's credit files, that represents the creditworthiness of that person, which is the likelihood that the person will pay their bills. A credit score is primarily based on credit report information, typically from one of the three major credit bureaus: Experian, TransUnion, and Equifax.

There are different methods of calculating credit scores. FICO is a credit score developed by Fair Isaac Corporation. It is used by many mortgage lenders that use a risk-based system to determine the possibility that the borrower may default on financial obligations to the mortgage lender. The credit bureaus all have their own credit scores: Equifax's ScorePower, Experian's PLUS score, and TransUnion's credit score, and each also sells the VantageScore credit score.

Americans are entitled to one free credit report within a 12-month period from each of the three agencies. The three credit bureaus run Annualcreditreport.com, where users can get their free credit report, normally without credit scores. Credit scores are available as an add-on feature of the report, for a fee.

In some states, such as California and Colorado, a consumer is entitled to a free credit report within 30 days of being denied credit or receiving sub-normal credit terms from a lender, due to their credit rating.

The FICO credit score range is between 300 and 850

FICO is the only one wikipedia listed a score range for, that is why I used that.

But anyway, I was just gunna average the three from equifax ,trans-union, and experian.

[Lindsey]

Mine was above 700 when I refinanced my car in January.  I forget what it was, exactly though. 

[Lindsey]

Supposedly, when you are skittering around like a butterfly and checking your shit out, and people throw your request for a check out there, it detracts a point or two per application.  I guess it comes back, probably pretty soon.  But if you scope out a few car dealers and apply for a few cash loans, and are thinking about buying a house, all those people you've applied to - who have each checked on you, their activity from repeted hits on your personal score will dip. 

I guess thats how they decide if you're over-extended, if you're checking into cash loans and trying for a car in several places, and applying for a mortgage, all at the same time. 

Mine is surprisingly okay.  Not perfect by a long shot, but I applied for a certain very snooty thing and got it.  When talking to the guy who ran my score, he didn't have the actual score.  It was returned to him as a pass or fail thing, and the company they use gives a bar graph.  I was astonished to see the bar extended into the acceptable area, by a sizable margin. 

I hope to keep it that way, but its unlikely.   

Yeah, I think you're right.  Even insurance quotes and stuff like that.  My credit score is almost perfect, and I've held a checking account and savings account at my bank for like seven years now, and they still won't give me a credit card.  But at the same time, I was trying to purchase a new vehicle, checking rates on insurance, get *a* credit card for emergencies, and all that jazz.  I figure when what's left on the credit card I do have is paid off (and the two dept. store cards I use) I'll try again for a credit card with an interest rate that isn't the financial equivalent of being anally raped with Thor. 

The real thing I was trying to get at here is that the only time I have ever seen it down on a paper from a credit check that a bank ran was when I bought my Honda last year, and when I re-financed it in January of this year. 

[blackie]

Funny thing about that, it seems like lots of motherfuckers check your credit when you move. Electric company, landlords...mother fuckers. Since when did landlords start charging people an application fee?

I guess it could also explain why my wifes credit score is higher than mine. She almost never applies for any credit or does anything when they would run a credit check. Well, not in the past 4 years.

I paid of my credit cards, and got rid of the accounts a while ago. I think maybe I have a Best Buy credit line still open that I don't use. My debt is student loans and a mortgage.

I was looking at automobiles, cus it was coming down to spending a couple grand to fix one, or get something new(or used). I guess I'm a cheap bastard, cus all I have to do is look at prices, think about having to finance it, and spending a couple grand isn't that bad. Hooptie it is. I never get to the point of the car dude running a credit check.

I guess my credit is OK right now, but its prolly gunna take a hit.

So what do you do if you have good credit, but you know its going to get fucked up soon?

[error]

Check it yourself.
https://www.annualcreditreport.com/

[blackie]

I wonder if I should open up a bunch of credit lines and not use them, or use them and pay them off right away,  so I will have a better debt/credit ratio.

[Lindsey]

I wonder if I should open up a bunch of credit lines and not use them, or use them and pay them off right away,  so I will have a better debt/credit ratio.

When I went to re-finance my car, the loan officer at the bank told me that having an open, unused line of credit will not help your credit score.  She said it is actually detrimental, and to close the one I had.  I still haven't done it.  I meant to get another opinion on that one. 

[Zat]

I wonder if I should open up a bunch of credit lines and not use them, or use them and pay them off right away,  so I will have a better debt/credit ratio.

When I went to re-finance my car, the loan officer at the bank told me that having an open, unused line of credit will not help your credit score.  She said it is actually detrimental, and to close the one I had.  I still haven't done it.  I meant to get another opinion on that one. 

Yup, it can be. One of the things that is taken into account is how much debt you can potentially get into. So big open lines can be detrimental.

[MandaDanda]

I wonder if I should open up a bunch of credit lines and not use them, or use them and pay them off right away,  so I will have a better debt/credit ratio.

When I went to re-finance my car, the loan officer at the bank told me that having an open, unused line of credit will not help your credit score.  She said it is actually detrimental, and to close the one I had.  I still haven't done it.  I meant to get another opinion on that one. 

 

Yup, it can be. One of the things that is taken into account is how much debt you can potentially get into. So big open lines can be detrimental.

Another factor is the amount of time since your accounts have been established so opening new lines of credit will boost the total amount of credit you have but because the accounts are new it could have a negative effect.

If you know your credit is going to take a hit, it would probably be good idea to make sure to clean up anything that is being reported incorrectly. A few months ago I pulled all three of my credit reports and disputed some things. One account was being report as 30 days late which was incorrect and another was reported as charged off as bad debt when really the company was bought out by another and the account balance was being reported under the new company. Both of those were corrected and my score shot up about 95 points which took me from the acceptable range up to the good. I really had no idea that those two things would have such a big impact.

[blackie]

I wonder if I should open up a bunch of credit lines and not use them, or use them and pay them off right away,  so I will have a better debt/credit ratio.

When I went to re-finance my car, the loan officer at the bank told me that having an open, unused line of credit will not help your credit score.  She said it is actually detrimental, and to close the one I had.  I still haven't done it.  I meant to get another opinion on that one. 

 

Yup, it can be. One of the things that is taken into account is how much debt you can potentially get into. So big open lines can be detrimental.

Another factor is the amount of time since your accounts have been established so opening new lines of credit will boost the total amount of credit you have but because the accounts are new it could have a negative effect.

My problem is that I closed most of my credit lines after I paid them off. I'm not worried about the short term, I'm thinking about the long term. A couple years out. If they look at when the account has been established, and they do, I should open some credit lines while my credit score is good, and motherfuckers will give me credit. Then I would use those credit lines to pay for shit instead of using cash, then pay off the credit before I get hit with any interest. So I would be using those lines of credit.

My credit is good now, but I know its probably gunna get shitty. I'm not looking to improve my credit in the short term. I'm thinking long term, like two or three years out.

It looks like I got approved for another mortgage, but I don't think I want it.