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[Jorsher]

I only have high 500s.  A lot of small, small collections but did its damage.  If I could do it all over again...

Anyway I need to take my own advice and get this shit cleaned up.  I've been told if I get it to 620 I'd be approved for the 150k I asked for, and I don't intend on spending more than 120.

[92CXyD]

I have this artical bookmarked from a while back that gives some techniques in raise you credit score quickly : http://articles.moneycentral.msn.com/Banking/YourCreditRating/how-to-win-the-credit-score-game.aspx?page=2

Hope this helps

[salesmonkey]

no credit here, best move I ever made!

****cliffs at bottom!***
how do you assume its the best move you have ever made...im guessing you don't have a mortgage? theoretically speaking having credit is good, having a balance or making a monthly car payment raises your credit as long as your up to date and never late, think of it as a vouche, would you buy something from someone with no vouche? or some one you has 10 people behind saying he's a good seller, same as with credit, banks and financial institution look at the same, thing, can we lend john smith 1000$ and he will be able to pay it back?

also credit banks measure debt as a whole, for example, if you have a 1500$ credit card, and you only charged 200$ on it, they will calculate your total possible debt which is 1500$..

cliffs: credit is good, as long as you pay on time!

i think what hes saying is he doesnt need or use credit, he is content on what he has. only real reason to use credit is to buy a house, or perhaps if your starting a buisness. i never use credit. just think about the money your wasting on interest rates instead of waiting. sometimes you got to think like a dirty jew and not like a dirty ballin nigger that you are.

[Kenny Rogers]

One thing I'm unclear on - is your score calculated per card or total used/available credit?

IE: Are the following scenarios the same?:

A) 10 cards with $1,000 limits each, spending $100 on each card (10% on each card) = 10% total
B) 10 cards with $1,000 limits each, spending $1,000 on one card (100% on 1, 0% on 9) = 10% total

The reason I ask is because I use one card every month because it gives me cash back (about $250 a year), so I tend to use 50% of the limit each month.  However,  I have a few other cards that I don't use at all...

[Jorsher]

One thing I'm unclear on - is your score calculated per card or total used/available credit?

IE: Are the following scenarios the same?:

A) 10 cards with $1,000 limits each, spending $100 on each card (10% on each card) = 10% total
B) 10 cards with $1,000 limits each, spending $1,000 on one card (100% on 1, 0% on 9) = 10% total

The reason I ask is because I use one card every month because it gives me cash back (about $250 a year), so I tend to use 50% of the limit each month.  However,  I have a few other cards that I don't use at all...

From what I've heard it's better to use small amounts on multiple cards, because it's not good to have open cards that aren't being used.  Would probably be good to cut back on the number of cards you have opened and just use one with a high credit limit, or to just spread out your credit usage load.  The creditboards forum would probably have some answers.

[ratcityrex]

I had my credit pulled last month for my home refi, and my middle score was 782, but my wifes middle score was 713, so our loan is based on hers due to the fact were married and hers is the lower of the two. She has to short of credit history. She had never had a credit card/loan untill about 3 years ago when we got a alaska airlines card and bought our house.

[HiProfile]

i think what hes saying is he doesnt need or use credit, he is content on what he has. only real reason to use credit is to buy a house, or perhaps if your starting a buisness. i never use credit. just think about the money your wasting on interest rates instead of waiting. sometimes you got to think like a dirty jew and not like a dirty ballin nigger that you are.

There are 2 reasons I use credit: I don't like carrying cash, and I buy lots of stuff online. I've NEVER purchased more than I could afford that exact minute. You also only pay intrest if you don't pay off your card each month. I think I've only paid $20 total in finance charges (intrest), but I still paid the minimum. Credit cards are good for emergencies, but you have to pay that shit off ASAP if you use it as such.

FYI its not a good idea to get too many cards, at least when the total credit limit adds up to a huge amount. Banks usually see that you could possibly spend way too much and get into a big hole.

[darkelvis]

As of a year ago I was 719 and my wife was 703...now we're probably higher with our mortgage on there.

[5thgenlx]

credit adjuster buddy o mine told me what he does and what he tells people to do.

have multiple credit cards. use each every month at least once. pay 50% of the total every month (as long as its over the minimum payment). credit companies and the rating system likes to see continued credit that is being used and being paid on time with multiple accounts. use one for gas, one for groceries, one for a hair cut, shit like that. then just make sure you hit 50% up of each one every month. you're credit will go up quickly. at least 100 points in 6 months. NEVER BE LATE. it fucks you hard.

this is something i did that took my 410 to a 590 within a year, and i still have shit in collections.

[HiProfile]

I just checked mine for the 1st time. Although I only got the 'new' numbers, so its somewhere from 720-740 (856 vantage score). Not bad considering I use it just as plastic cash and never had a loan. All I've done is use my cards for virtually everything, and pay it off each month. I was late 3-4 times by a day, which I'm told doesn't count as long as its infrequent. I have 2 'real' cards, some store card w/micro limit, and one hooked to my parents. So just use ur cards and always pay your shit on time - at least always pay the minimum.

I don't think I've ever been over 50%, I couldn't even afford that in a year. School sucks up all the time I could be making $$$.

[junkyard racer]

I've learned from buying my house that credit is a massive massive scam.

The ONLY way to know what your true credit score is, is through myfico.com. Go read up on there forums for anything and everything about credit. Those people know about everything there is to know about building credit and staying out of debt.

[Lowerit]

Contrary to what people think, you can have too much credit.

it's better to have 1-2 cards with higher limits, then a shitload of cards.

Inquiries on your credit Bureau aren't a good thing.  Everytime you apply for a card, loan or any kind of credit (even a cell in some cases) it shows up as an inquiry on your Credit bureau. The only items that don't adhere to this rule are Houses and cars. They know you will shop these items, so they are only registered when a purchase is made.

You look bad when you apply for credit all over.


I have 1 CC with a 10K Limit and a line of Credit with a 10K limit.   I completley fucked my Credit when i was younger with.....and wait for it....

A library book.. Didn't return it, moved, Library claimed replacement @ $300 and it went to collections.

I am just coming out of a Fiasco with an ex GF that Damaged my credit pretty good. for the last year I haven't bought a fuckin thing unless I have the cash.

Credit isn't repaired quickly. The first thing banks will look at is a Debt Serive ratio. How much you owe vs. How much you make. I forget what % they consider normal, but I beleive it's around the 40-50% range... I had a time 6 years ago when I was making payments on a condo, an M3 and a new Mini Cooper.. debt service ratio was over 100%.. and I was making good money at the time.

take it from someone who has been there... live well within your means, you will be happy later in life that you did.

[junkyard racer]

Banks wanna see 60% debt to income ratio, at the lowest. Meaning, you should have more at the most 40% debt. If you bring home $100 a month, $40 of that should be to pay BILLS. Bills = utilities (phone/internet, etc) and credit cards/loans. $60 should be in your pocket for the necessities. Everything you have a credit out on will show on your fico report. Utilities included.

I researched the shit out of this stuff while applying for my home loan. Again, that myfico.com website will teach you a lot of shit you will say WTF!!!

[Jorsher]

Banks wanna see 60% debt to income ratio, at the lowest. Meaning, you should have more at the most 40% debt. If you bring home $100 a month, $40 of that should be to pay BILLS. Bills = utilities (phone/internet, etc) and credit cards/loans. $60 should be in your pocket for the necessities. Everything you have a credit out on will show on your fico report. Utilities included.

I researched the shit out of this stuff while applying for my home loan. Again, that myfico.com website will teach you a lot of shit you will say WTF!!!

Yeah, 30-40% is about the highest you want to go.

I have maybe 5-10% debt/income depending on how much i use my CC, but my credit score is what's holding me back due to past collections.

[junkyard racer]

yeah, maybe I worded it bad. 40% debt is a lot of debt, in the eyes of a bank.