First off I have learned a lot on these forums and I thank everyone in advance for all the useful advice. I pulled my fico score in Nov. '07 and just pulled my Ex. score this month, it has remained the same. I am working on getting my cc paid off. I know I am doing very good and I do have a fairly low balance on the cc right now. But I have a few questions.
How long does hard pulls remain on your report and affect your score? It says the most recent inquiry was 12/20/07. Before that the most recent 3/29/07 and then 3 banks from 1/3/07 from getting a car loan.
My current fico score with Ex is 754 and it says key factors affecting my score are length of time your accounts have been established is relatively short. (Length 5 years, 11 months. average account age 2 years, 11 months. oldest 7/2003 cap one. most recent WFNNB/American opened 2/2008). I am 26 years old, in case you are wondering.
Others affecting my score- The time since your most recent account opening is very recent. How long before the opening of the American 2/2008 will not affect my account. Will it need to take a year for the account?
The length of time your revolving/charge accounts have been established is too short. How long does it take before it's "too short".
Last thing affecting score- 'The proportion of balances to credit limits (high credit) on your revolving/charge accounts is too high.
When I pulled this report (8-9-08) my Juniper card was reporting $1,270 Bal/ $4,200 limit. It now has balance of $688. The balance was actually down before I pulled the report but it hadn't shown up yet.
My American account was reporting $1,900 bal/ $4,000 limit. It also was down before the report, just not showing up. It is now $1,320 bal/$4,000 limit.
I have a cap one card that I haven't used for months, probably 5 months. So I got it out the other day just to use for gas. I paid it off last night before the statement date (Sept. 15) so it won't have a reporting balance. I have an old navy cc that I have $114 bal/$5000 limit that unfortunately I won't be able to pay before the statement date because statement date is the 3rd.
Sorry this is a bunch of rambling. Here are my questions? How can I get the score to 760? I am so close! Will I see the jump to 760 in the next few months with the utilization going down on the cards? Recap of cards
Bank of America opened 4/2004 balance $0 Limit $2,000. I don't even have a card for this. I think this account was from buying an ipod through apple. They offer financing and I took it. I won't call to close it because it helps my age and limit.
Barclays Bank- Juniper card opened 10/2005 balance $688 Limit $4,200
Capital One Card opened 7/2003 balance $0 Limit $1,100
Old Navy store card opened 5/2006 balance $0 Limit $700. I don't have a card for this anymore as they switched to a visa old navy card. It still shows up on my report and I won't close it because of age and limit...unless you think I should?
Old Navy Visa card opened 6/2007 balance $114 Limit $5,000.
GEMB/PayPal opened 7/2004 balance $0 Limit $500- I don't know why I opened this. I don't have a card for it?!? Should I call about closing it? Would it hurt or help score?
HSBC/Music opened 11/2005 balance $0 Limit $0- why is this showing up as $0 limit. I am pretty sure this is from Musicians Friend. Should I call about closing this to get it off my report?
Best Buy/Retail Services opened 12/2004 Balance $0 Limit $3,300
LB Retail opened 2/2005 Balance $0 Limit $700
American TV opened 2/2008 Balance $1,320 Limit $4,000- this will be paid off in Dec. It's 0% interest so I'm making payments to pay off during the 0% period.
Would calling to cancel the old navy store card, paypal card and music card help my score?