Credit Cards

[hbarboza]

I don't understand.

I thought my scores were "fair" but somehow it wasn't enough.

No late payments, no collections, no charge off.

However, I'm 19 so my credit is quite "young".

Any recomendation for cards or any thoughts?

I appreciate it!

Thanks!!

[llecs]

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hbarboza wrote:

I don't understand.

I thought my scores were "fair" but somehow it wasn't enough.

No late payments, no collections, no charge off.

However, I'm 19 so my credit is quite "young".

Any recomendation for cards or any thoughts?

I appreciate it!

Thanks!!

---

Don't feel bad, I was turned down by both with scores in the 660s recently.

You used the word "fair" to describe your scores. Did you get these from MyFICO?

[Brammy]

Remember, the scores used by bankcard issuers are more likely NOT the scores you will get here.

[hbarboza]

Yes, they're FICO scores. I enrolled in the score watch for EQ and TU

Message Edited by hbarboza on 04-07-2008 12:35 PM

[llecs]

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hbarboza wrote:

Yes, they're FICO scores. I enrolled in the score watch for EQ and TU

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Just checking...FICO doesn't use the word "fair". IMO, CapOne is a piece of work. I'm happy with my denial. Try applying again. I know WAMU lets you reapply every 90 days.

Do you have any CC's now?

[cobra19]

hb - that is kinda surprising. Did they give you a reason for the devcline? My sister received a Cap One with a 2.5k cl, and her scores are not as good as yours.

[hbarboza]

Oh no- I said "fair" because I was under the impression that I had good credit! haha not FICO's wording but my own. I feel horrible now.

Yeah, I have a credit card but it's $150 with First Financial.

The only negatives is that my CRA is showing the balances close to the limit

MACYS- $200

BLOOMG - $300

1rst Financial - $150

CURRENT BALANCE ON ALL ACCOUNTS $340

My oldest account is 9 months.

Fico says this is hurting my score...

You have a short credit history.

You've made heavy use of your available revolving credit.  (I went over the limit twice).

The balances on your non-mortgage credit accounts are too high.

You've recently been looking for credit.  ( 2 inquiries!!!).

Fico says this is helping my score....

You have no missed payments on your credit accounts.

You've been responsibly limiting the number of your credit accounts that carry balances.

P.S. my sister just added me as an authorized user on her BOFA card and I'm planning to pay all my balances this week.

Message Edited by hbarboza on 04-07-2008 12:51 PM

[Brammy]

The point is that the scores you see here on this site and EQ are what are called the clasic FICO scores.  Most banks use a bankcard score to issue credit cards which can vary greatly.

[hbarboza]

Yes, I've never used bank card scores.

I purchased the scored today from FICO. They're not FAKO scores.

[Brammy]

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hbarboza wrote:

Yes, I've never used bank card scores.

I purchased the scored today from FICO. They're not FAKO scores.

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The Bankcard FICO is also a FICO score not a FAKO.  It is just a different version...  There is a 50 point difference between my TU FICO classic and my Bankcard score... Let's not even go into the bankruptcy risk score.