Credit Scores???
#23
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Re: Credit Scores???
Originally Posted by berns29scarab
5 outta 7 of the lenders i deal with just lowered there A+ rates to 681 and up
nice..its been over a year since ive been outa the lending game. 681 isnt that great, and while it isnt an indicator of any late payments it does show some checkered past and or some over extending. I now leave the lending to somebody else....and handle the RE sale side of it.
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Re: Credit Scores???
Originally Posted by Strip Poker 388
But when you have above 800 score will your income still determine how much boat $$ your can buy?
#25
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Re: Credit Scores???
been in lending for a long time,
fico's in the 800's + are getting more and more rare,
a few key tips for credit score.
keep balances on revolving debt below 30% of max credit line, this is key!
( Fyi; some companies like cap 1 dont show the max and will hurt your score )
dont have too many open accts, i have seen folks with 25 open revolving accts,
cut it down some.
new accts will hurt your score short term.
inquiries will hurt you, But multiple Mortgage inquires will not if within 30 days,
verify that you dont have multiple aka's and addresses that conflict, keep it as clean as possible,
there are so many things that trigger the fico model to make deroagatory adjustments, but in general,
the obvious simple ones are;
no late's
keep revolving balances down below 30%
no judgments / public records
avoid new accts if possible, only;
(if you have sufficient number of trade lines established)
Dont be afraid to dispute issues,
a good time is between holidays coming up,, this is due to short staff and if they cant resolve and verify they must remove.
j
fico's in the 800's + are getting more and more rare,
a few key tips for credit score.
keep balances on revolving debt below 30% of max credit line, this is key!
( Fyi; some companies like cap 1 dont show the max and will hurt your score )
dont have too many open accts, i have seen folks with 25 open revolving accts,
cut it down some.
new accts will hurt your score short term.
inquiries will hurt you, But multiple Mortgage inquires will not if within 30 days,
verify that you dont have multiple aka's and addresses that conflict, keep it as clean as possible,
there are so many things that trigger the fico model to make deroagatory adjustments, but in general,
the obvious simple ones are;
no late's
keep revolving balances down below 30%
no judgments / public records
avoid new accts if possible, only;
(if you have sufficient number of trade lines established)
Dont be afraid to dispute issues,
a good time is between holidays coming up,, this is due to short staff and if they cant resolve and verify they must remove.
j
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Re: Credit Scores???
myfico.com is the company that determines the credit scores for all of the bureau's, they also have enhanced scores for people in the mortgage business, car business etc. if you really want to raise your score become a member and then you can take your actual report and see what hypothetical changes you make do too your scores. having lots of credit available but not using any of it is the key to a higher score, assuming you have a perfect pay history and are just trying to raise the score.
Never join a credit counseling service and always pay off your high interest rate debt first...
just my two pennies
andy
Never join a credit counseling service and always pay off your high interest rate debt first...
just my two pennies
andy
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Re: Credit Scores???
Originally Posted by Strip Poker 388
But when you have above 800 score will your income still determine how much boat $$ your can buy?
andy
#29
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Re: Credit Scores???
who do you contact for a dispute??
if i have medical bills that have gone to a debt collector should i just pay them or pay who the bill was orginally for??
if i have medical bills that have gone to a debt collector should i just pay them or pay who the bill was orginally for??
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Re: Credit Scores???
Originally Posted by Outkast Rafe
who do you contact for a dispute??
if i have medical bills that have gone to a debt collector should i just pay them or pay who the bill was orginally for??
if i have medical bills that have gone to a debt collector should i just pay them or pay who the bill was orginally for??