Airehead Posted August 22, 2017 Share #1 Posted August 22, 2017 Is there an accepted chart of what is good or not? Does age factor in? I'm pretty sure mine is excellent because we have no debt but I don't understand what the letter said. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted August 22, 2017 Share #2 Posted August 22, 2017 If it's over 800 it's good. Yours probably is. Link to comment Share on other sites More sharing options...
Scrapr ★ Posted August 22, 2017 Share #3 Posted August 22, 2017 720 is kind of the cut off for "good" mortgages. +800 is golden ticket Sub 600 is Danger Will Robinson zone* Did they say yup? you can get a close approximation from Credit Karma for free. My Capital one card sends it every month * I once had a 550 when I co signed for a bed set for one of my drivers. He defaulted I got to pay that off. Link to comment Share on other sites More sharing options...
Road Runner Posted August 22, 2017 Share #4 Posted August 22, 2017 Having no debt actually hurts your rating. I think the people with the highest rating are those with some debt who pay their bills and loans on time, always. I have a pretty high rating (814) but the rating service told me it wasn't the very highest because I carry no debt. Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted August 22, 2017 Share #5 Posted August 22, 2017 No debt doesn't generate a great credit rating. A little debt paid off regularly does. The funny thing is that checking your debt can make your rating go down........anybody checking it. I had my credit rating dropped by over 100 pts once while negotiating the price of a car. Each time they tried to find a better deal they ran it past 3 banks. In the end there were 12 credit checks in 2 hours and I didn't buy the car. For that I had to complain and write letters. Link to comment Share on other sites More sharing options...
AirwickWithCheese Posted August 22, 2017 Share #6 Posted August 22, 2017 I know people. I can get you any amount you need. Points and weekly rates. No need to worry about the principal for the first 25 years. 2 1 Link to comment Share on other sites More sharing options...
Road Runner Posted August 22, 2017 Share #7 Posted August 22, 2017 Link to comment Share on other sites More sharing options...
Square Wheels Posted August 22, 2017 Share #8 Posted August 22, 2017 I'm at 773. My car is almost paid off. I haven't had credit card debt in years. I make plenty. I've never been late on anything. I have a mortgage, I guess I don't worry much about getting a loan. Link to comment Share on other sites More sharing options...
Digital_photog ★ Posted August 22, 2017 Share #9 Posted August 22, 2017 The bank where WoD_P works won't give a mortgage under 650. No debt doesn't help a credit rating. Having credit and paying it off on time does. If nothing else have credit cards and pay them off every month. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted August 22, 2017 Share #10 Posted August 22, 2017 I'm still paying for my remodel, haven't used credit cards in years. Sweet young thing at the bank talked me into using their credit card the way I have been using a debit card and get the rewards. That was in July. We will see how that goes. My credit score is 815 Link to comment Share on other sites More sharing options...
Square Wheels Posted August 22, 2017 Share #11 Posted August 22, 2017 2 minutes ago, Digital_photog said: If nothing else have credit cards and pay them off every month. This I do, about 20 or 30k a year. I pay almost everything on my 1 credit card and transfer the money same day. I get cash back. 1 Link to comment Share on other sites More sharing options...
petitepedal ★ Posted August 22, 2017 Share #12 Posted August 22, 2017 I owe.....but I pay...my rating is in the 800's Link to comment Share on other sites More sharing options...
Airehead Posted August 22, 2017 Author Share #13 Posted August 22, 2017 \hmmm, should I be looking to see what the number is with any frequency? Link to comment Share on other sites More sharing options...
Road Runner Posted August 22, 2017 Share #14 Posted August 22, 2017 2 hours ago, Airehead said: \hmmm, should I be looking to see what the number is with any frequency? It is interesting to know, but if you check it once and nothing really changes, your score should pretty much stay the same. Not necessary to keep checking it in my opinion, as long as your financial situation is relatively constant. Mine has remained in the low 800's ever since I first checked it, several years ago. Link to comment Share on other sites More sharing options...
LoneWolf Posted August 22, 2017 Share #15 Posted August 22, 2017 Last I knew, both of ours were in the 800s. Mortgage paid on time. One car loan, paid on time, and several previous ones paid off early, no missed payments. Utility bills paid on time. I always looked at it as 650-699, doing okay. 700-799, doing well. 800 and up, excellent. Age doesn't have much to do with it, it's just whether you pay your bills on time, and if you have a history of paying off loans without missing payments. Earnings to debt ratio is a factor when it actually comes to getting a new loan, but I don't know that it really affects the credit score itself. Link to comment Share on other sites More sharing options...
Thaddeus Kosciuszko Posted August 22, 2017 Share #16 Posted August 22, 2017 Greetings to you, Mrs. HeadAire! I to you am writing of the Guarantee of Credit good rating to be, which help can I be much of to you. Please of to you send me many financial informations of your being, and review quickly by us will compose to you a score financial of 1100+ Guaranteed Credit rating in only just few days of time! Many peoples have we helped obtain the great Credit Score of business! Truly of yours, Prince Jahoobi Kuala Lumpur Airport, Nigeria 3 Link to comment Share on other sites More sharing options...
Johnny Come Lately Name Posted August 22, 2017 Share #17 Posted August 22, 2017 10 hours ago, Road Runner said: Having no debt actually hurts your rating. Yup. My credit score is higher than SO's because the house is in my name - even though she makes more than I do. We decided to ditch BoA for our credit cards and go with the credit union, so we were both in the CU at the same time, filling out the paperwork. The lady at the CU told me my score was 803, then told her her's was 799. "YES!!!! I WIN!!!!!“ ? (See? I'm an insufferable asshole all the time) Also, as bizarre as it sounds, having multiple credit cards ups your score. For some reason, I had two and was going to cancel one and was told not to, just let it "die" on its own. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted August 22, 2017 Share #18 Posted August 22, 2017 3 minutes ago, F_in Ray Of Sunshine said: For some reason, I had two and was going to cancel one and was told not to, just let it "die" on its own. Most of the credit cards I had died on their own within five years of stopping using them but Discover sent me new cards every year for probably twenty years. I never activated any of them, finally this year they sent me a letter saying that they noticed I haven't been using my Discover cards and if I want to keep them to let them know or just use them one time and they will keep them, otherwise they will close the account at the end of July. I'm really going to miss those Discover cards. Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted August 22, 2017 Share #19 Posted August 22, 2017 10 hours ago, Airehead said: \hmmm, should I be looking to see what the number is with any frequency? Not unless you want it to go down. Somehow the system is rigged so that when your rating is checked by anyone the assumption is that something must be wrong............so down it goes. Personally, I tend to ignore them as I consider the size of the credit rating business to be obscene and a scam that should be allowed to go bankrupt. Link to comment Share on other sites More sharing options...
Chris... Posted August 22, 2017 Share #20 Posted August 22, 2017 I just checked mine, 838. Link to comment Share on other sites More sharing options...
Caretaker Posted August 22, 2017 Share #21 Posted August 22, 2017 I'm vaguely aware of credit rating but a quick check shows that I can get mine by applying online, paying €6 and waiting for it arrive by post. As I'm not in the market for a loan I'm not interested enough to pay €6 (about $7) for this information. Link to comment Share on other sites More sharing options...
bikeman564™ Posted August 22, 2017 Share #22 Posted August 22, 2017 BoA sends me monthly scores from one of the three reporting agencies. I've been between 810-821 for years. Only debt I have currently is my mortgage. I use my visa a couple times / month (or lots when on vacation) but I always pay if off in full. Link to comment Share on other sites More sharing options...
Randomguy Posted August 22, 2017 Share #23 Posted August 22, 2017 My rating used to be 803, 809, and 796 before the whole Colorado thing. Now it is crappy, what with my huge load of new debt (had none before 2 years ago), and the fact that feRW was not sending me my bills that weren't automatically being sent to CO. Yay. 1 Link to comment Share on other sites More sharing options...
Airehead Posted August 22, 2017 Author Share #24 Posted August 22, 2017 The paper work from the mortgage broker says I"too few accounts paid as agreed." I just called them because I know wwe don't miss payments. The woman said, oh that just means you have less credit cards than most people. She said stop worrying. I guess I am like FSOG because it makes me mad that mine is 785 and Mr. Aire's is 840. The house is only in his name. I should have done something about that 15 years ago. Link to comment Share on other sites More sharing options...
sheep_herder ★ Posted August 22, 2017 Share #25 Posted August 22, 2017 6 minutes ago, Airehead said: The paper work from the mortgage broker says I"too few accounts paid as agreed." I just called them because I know wwe don't miss payments. The woman said, oh that just means you have less credit cards than most people. She said stop worrying. I guess I am like FSOG because it makes me mad that mine is 785 and Mr. Aire's is 840. The house is only in his name. I should have done something about that 15 years ago. Don't you have some work to do, to keep you mind occupied? Please, go play with the pups. This is from someone that has never knowingly checked their credit rating. I don't have a clue where we stand. 1 Link to comment Share on other sites More sharing options...
Airehead Posted August 22, 2017 Author Share #26 Posted August 22, 2017 6 minutes ago, sheep_herder said: Don't you have some work to do, to keep you mind occupied? Please, go play with the pups. This is from someone that has never knowingly checked their credit rating. I don't have a clue where we stand. See next post. I am at home killing time before my lunch date. Link to comment Share on other sites More sharing options...
Randomguy Posted August 22, 2017 Share #27 Posted August 22, 2017 11 minutes ago, Airehead said: The paper work from the mortgage broker says I"too few accounts paid as agreed." I just called them because I know wwe don't miss payments. The woman said, oh that just means you have less credit cards than most people. She said stop worrying. I guess I am like FSOG because it makes me mad that mine is 785 and Mr. Aire's is 840. The house is only in his name. I should have done something about that 15 years ago. Wow, 840 is the highest I have ever heard of! 785 is not too shabby, either! Link to comment Share on other sites More sharing options...
Kzoo Posted August 22, 2017 Share #28 Posted August 22, 2017 I remember see ours for some reason in the past couple years. WoKzoo's was 803 and mine was 801. Go figure- she wins again. 1 Link to comment Share on other sites More sharing options...
Kirby Posted August 22, 2017 Share #29 Posted August 22, 2017 Generally you should check your credit reports every year to look for signs of fraud. You don't really need to check your credit score, but if you get it with a credit card monthy, it can be an early sign that something is messed up with your credit history (or fraud). Paying bills regularly helps your score, but they also look at the length of your credit history. That's one reason people recommend not closing your oldest credit card. They also look at your utilization against the maximum, so shutting too many cards in a close time period usually isn't advisable. Having a mortgage in your name actually helps, as long as you make all your payments on time. Link to comment Share on other sites More sharing options...
Johnny Come Lately Name Posted August 22, 2017 Share #30 Posted August 22, 2017 4 hours ago, Longjohn said: Most of the credit cards I had died on their own within five years of stopping using them I play that game with Amazon. I get fifty dollars off my order for signing up with their card. Then I let the card die. A few years ago, it was some stuff I bought for my kid, for Christmas. About a month ago, I got fifty dollars worth of DeFeet and Sock Guy socks for four bucks, then promptly ripped the card out of the list of cards that they have on file for me and never activated the card. Hopefully the socks will last five years until I can do it again.... 1 Link to comment Share on other sites More sharing options...
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