09-03-2009 09:08 PM - edited 09-03-2009 09:12 PM
I understand that one part of Fico scoring comes from a good credit mix. In the future, like I think every one else here wants is to maximize their scores if possible. I wonder by the credit card mix I have what changes i should make in the future if any, here is what I currently have. If I keep the worst cards for a while I don't want to dump them then get hit hard latter on with a nasty score drop.
Best Buy Reward Zone MC Gold - Opened 01/08 starting CL 300.00 current CL 450.00 79 AF
Target Red Card Opened 06/09 CL 200.00
Exxon/Mobile Personal Card Opened 05/09 CL 200.00
Capitol One Platinum MC Opened 05/09 CL 200.00 39 AF enrolled in credit steps
ECP/Military Star Card Opened 07/01 Starting CL 500.00 Current CL 5,200.00
NFCU Rewards Visa Opened 08/09 CL 10,000.00
09-03-2009 09:18 PM
I understand that one part of Fico scoring comes from a good credit mix.
That credit mix includes revolving credit, installment loans, and mortgages.
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".
09-03-2009 09:29 PM - edited 09-03-2009 09:31 PM
I guess I should have detailed my post a little I have a installment loan that that was never late and paid off and should report for another nine years the only thing I have never had is a mortgage and this is why I am working hard on my scores to maximize them for the best Interest rate when I try to buy my first house when I come back home from my deployment that won't be till sometime in 2012 hopefully. I guess I just want to focus on my cards for them i.e.. The low limits high apr etc.. Should I Dump some later on and try for the so called prime cards later on etc.. Thanks marinevietvet for you post
09-03-2009 11:45 PM
09-04-2009 03:06 AM
I would suggest dumping the best buy card, or at least seeing if they will waive the AF. $79 a year fro a $450 CL is hardly worth it, IMO.
Agree with this.
09-04-2009 04:27 AM
09-04-2009 03:14 PM - last edited on 09-06-2009 07:14 AM by LilMirth
Bestbuy with a $79 AF for a credit line of $450. Dump that [Edited to remove profanity] in the trash. If I were you I wouldn't bother to open for that much CL and high AF..
CreditCared 101, please note that it In the spirit of a healthy and helpful community, profanity and other inappropriate postings are not tolerated.
09-04-2009 06:51 PM
Yeah I know the AF to CL is not good AF's suck period but I had received a pre approval offer in 01/08 and was approved the only other card I had at the time was my military star card and it was only 500.00 so I did not have a visa or MC at the time, and my scores were horrible. Well since improving my credit I have the other cards now all low limits except my new NFCU card biggest CL I have ever had in my life. I just wondered about my cards because I know prime are different then CU cards with the way fico scores. All my credit reports say is that I have cards with low limits so that is hurting me and lenders look at them and won't extend good CL's and I think my capone card if I do get two credit step increases will not get any bigger then 750.00. The gas card and target card probable won't grow either. Just want to shoot for a good mix.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO