Credit Score

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My score at Equifax is 723 My score at Transunion is 738 My score at Experian is 739 Question: I plan to get a job in bank industry that require to check my credit score, how they going to calculate my score if my score is diffrent in 3 credit bureu. My employer require my 800 score to get a job they will get score from 3 credit bureu Question: How to Incrase my credit score Currently as a positive factors are -The proportion of the balance to credit limit is 4% (total credit limit of $18,000) Citi-$12,000 American Express- $6,000 -The presence of bank/national revolving credit has been estabolish -You are using relativly low balance compare to credit limit -You have never been late Current negative factors is: -The lenght of time your account has been estabolish is relatively short First account open 14 month ago- Credit Card- Citi Second account open 3 month ago-Credit Card- American Express -I have never been late with any payment -Pay in full each month -no inquire (hard cover inquire) within last 24 month -no collection -no public record -no garnishment or other negative factors Question: It is ok to "load with a debt" for $5,000 and pay it with 12 month period( with intrest) to increase my credit score? Any suggestion ,comment, welcome!

Best Answer

Fair Isaac (www.myfico.com) has a calculator that allows you to figure out how to increase your credit rating by tweaking several factors: - paying off part of or all outstanding debt - decreasing the ratio of balances to credit limits - decreasing the number of inquiries into your credit histories (more inquiries decreases the score They will analyze each of the positive and negative factors and provide recommendations on how to improve your score. Also take a look at these articles for some tips. Actually GUS is right -- only 1% of the population has a credit score of 800 or above. "And do you all think they work at this bank?" GUS asked. Funny!!!

Hi, I would like to know how I can get a free credit score. A completly free credit score, not the one were you have to sign up for something. Do you know how I can get it free? What are good credit scores? What is your credit score good for? Any information about credit score is greatly appreicated. I definetly would love to know were I can get a free credit score check. Thank you for your time :-)

Best Answer

If you are turned down for credit,you can get a free credit report from the three major credit bureaus.Good luck.

About a year ago, my credit score was somewhere 500-600. So I decided to get a secure credit card to raise my credit score. I 've had this card for about a year now, and then decided to apply for a non-secure credit card few weeks ago. I was DENIED. I was kind of surprised, because I thought a year was long enough to build my credit to qualify me for an actual credit card. So I decided to check my score online through myFico.com. My score is now 610 (just Equifax). There were 7 accounts on my report: 1. Installment Account (School Federal Loans): Status is good. 2. 3 Active Collection Accounts: old medical bills, cell phone bills. 3. Revolving Account: My current secure credit card, Status is also good, I pay on time, but my balance is usually close to the available credit limit. 4. 2 Revolving Accounts: Charged Off My last 2 years of payment history is good, no missed payments. The negative items are old. How can I improve my credit? can my secure credit card allow me to reach 700? Thanks for all the great responses. I forgot to mention the other scores I got from the other 2 agencies; Experian = 524 and Transunion = 604. There is a big score difference between Equifax and Experian, 86 points! Do you guys think if I consolidate my loans through a debt payment company, I will improve my credit quickly? or should I fix problems separetly? Someone asked how old the negative items are, they are 3-5 years old. The medical bill is from umbalance ride to the hospital after a car accident (I wish I didn't get on it, because they EMS guys talked me into it). The description on the bill from the collection office on the report doesn't say this, just shows the amount. Thanks everyone.

Best Answer

From your list you actually only have one thing in good standing, which is your school loans. Your secured card "could" be in good standing but you say it usually is utilized to close to the credit limit (major score killer) The student loans and the secured card will not help you reach that score goal as long as the you keep maxing the card out and negatives are still reporting. I don't know who you tried to get another card with, but right now a prime lender probably will not give you an unsecured major card. Prime lenders are more lenient with their co-branded store cards like Walmart, Target, etc, then they are with their major credit cards. You didn't mention how "old" the negatives are. As long as you are not still within the collecting SOL and they are reporting incorrectly, you can try to dispute them with the CRA's. If they are close to falling off (in the next couple of months), you could try to dispute them as obsolete. The phone bills should fall under the UCC for a collecting SOL of 4 years. The medical debts are a little trickier when it comes to the collecting SOL. If the medical provider receives any funding from state or federal funds., they may be considered the same as any state or federal debt and have no collecting SOL. If they are past the normal SOL, you can always claim SOL. It would be up to the collection agency to figure out if the medical provider receives any funding (and they probably will not bother if the debt is old and it isn't very much) One other problem you will find, when the negatives do fall off due to obsolescence, drop off through your disputes, or drop off due to age, is that you may see a score drop. Even though you would be losing negatives, you would also be losing history. You don't have a full enough file to keep it from hurting your scores. On a positive note, you might consider rounding out your file and applying for a store card. You might also consider another secured card with a lender like Bank of America, or check with your bank or credit union to see what they offer.

I recently checked my credit score on Experian and it said that it is 722 on a scale of 501-990 and then I estimated my credit score on MyFICO and is says that my score ranges from 705-755. Are these GOOD?? Average? Bad? Are there different ways to score credit?

Best Answer

You're off to a good start. Still 722 is about a C+ and you could get much better still.. I've got 10 steps you can use to build your credit score. I raised mine to well over 700 points fro 500 using these steps over a year -- : # Know and Track Your Credit Score (and be sure to sign up for the 30-day free trial of your credit score monitoring listed on the article below. It really helped my get my score up.) # Never Miss a Payment, Starting Today # Never use more than 20% of your Available Credit # Keep Credit Cards that Have No Annual Fees Open For as Long as Possible # Extend Your Credit Limit on Cards You Already Have before You Get New Ones # Get Credit Cards that Have CashBack Rewards to Contribute to your Balance # Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- # If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan # Take out a Small Personal Loan and Repay it Over a Year # Ask Someone With Good Credit if They will Account Shadow you Read the full article here, it gives you an overview of credit scores, and the 10 steps in detail on page 2 .. Good luck! http://millionster.com/articles/debt/ increase-fico-credit-score/

I have a credit card with a $ 3,750 credit limit. If I ask it to be raised to $ 5,000, will this decrease my credit score/FICO Score ? I heard that it might, because I am "applying for credit", and that will lower my credit score. RIght now my FICO score is 750.

Best Answer

Considering your score of 750 and the fact that the credit card company will do a soft pull which has no effect on your score and the fact that you are only asking for $1,250.00 additional credit, I would not worry about it.