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Epic Contributor
Creditaddict
Posts: 22,052
Registered: ‎10-23-2007
0

Re: 623 to 700....Please help


candiigraham wrote:

Burned2many.........I'm sorry -  What is AA? The cards that have no usage, should be closed or buy something for $20 and pay off? what is garden?


AA = Average Age of Accounts

Yes buy something small and wait for bill and pay it off... because not only do you chance them being closed but they will also go inactive on credit report and although report may not factor in correctly and you need all the extra available credit you can while paying down other balances.

garden = no applications... tend to the cards you have to make them the prettiest they can = PAID OFF!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
New Member
candiigraham
Posts: 9
Registered: ‎12-10-2013
0

Re: 623 to 700....Please help

Thanks everyone! Going to start paying of the one with highest interest first - which is the paypal  - it has 26.99% APR.  The discover & amazon are still at 0% APR for a couple of months. I can have the 3 paid off in 6 months or should I try to pay off sooner?

Epic Contributor
Creditaddict
Posts: 22,052
Registered: ‎10-23-2007
0

Re: 623 to 700....Please help


candiigraham wrote:

Thanks everyone! Going to start paying of the one with highest interest first - which is the paypal  - it has 26.99% APR.  The discover & amazon are still at 0% APR for a couple of months. I can have the 3 paid off in 6 months or should I try to pay off sooner?


well the answer will always be yes if you can... but if you can set yourself the goal of 6 months and then do it in 5 wouldn't that feel great... don't set it for 3 and need 5 and feel like you failed it and stop working on paying them off... I have done this all to many times myself!

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Valued Contributor
Involver
Posts: 1,389
Registered: ‎07-16-2013
0

Re: 623 to 700....Please help

Does "no late payments in the last 6 months" indicate you have lates on your CR prior?

 

In addition to your high util that would certainly be holding you down.

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Valued Contributor
Gunnar419
Posts: 1,231
Registered: ‎01-23-2013
0

Re: 623 to 700....Please help

AA = Adverse action. That's when your cc company sees something, could be anything it doesn't like, could be anywhere in your credit report, not just on your account with them. They could close your card, lower your credit line, etc.

 

BTW, AAoA = Average age of accounts, which is important, too. But it's AA you need to look out for and your most likely cause of that, as others have said, is having such high utilization on so many cards.

 

Welcome and good luck!

 

New Member
candiigraham
Posts: 9
Registered: ‎12-10-2013
0

Re: 623 to 700....Please help

Yes, I had a late payment in June on two cards. Lost part of income.  Gonna shoot to keep on time from now on.


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