I need your opinions !!

[Anonymous]

be careful when you use those credit cards -  "Use them sparingly" means use them (so there's activity) but never let them report more than 9% available credit used.  So either plan your timing very carefully, so that you use them, but pay off everything except 1-9% before they report for the month.  Of course finding out, and tracking, exactly when they report is a major pain in the *** - so you could also just charge a little amount (under 9%) on the card to use it, and then put it away until you get your bill.  Then pay it in full, and then charge a little amount again.

I didn't see anyone suggest writing a goodwill letter to your mortgage company, and see if they'll remove the 30 day late from your report.  Since you didn't receive the bill in a timely fashion, and you've made all of your other payments on time, they may be willing to remove that from your report.

[Anonymous]

HSBC

Cap One

Amex

RCU

Chase

WaMu

I have six and happen to like my line-up (*coughs* except for the first two).

[MeganML84]

Have you tried GWing the lates/collection off?

Message Edited by MeganML84 on 11-30-2007 10:31 PM

[Anonymous]

I sent off GW yesterday for the mortgage and Nissan account. I called to ask were to send it and the first thing the reps. said is it will not be taken off if its not there fault. I will be sending the collection too. I really hope this works.

[MeganML84]

You are on the right track, I think you need to work on getting those lates off before you apply for any more credit.

IMO

[Anonymous]

I agree................ I dont need any more credit. I think I need to utilize the ones that I have. I think I have about 8 but they are all zero balance. no activity.... I think i will try what several people have suggested charge under 9% of the balance and the payoff before it reports...right?

[MeganML84]

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Shoe_diva69 wrote:

I agree................ I dont need any more credit. I think I need to utilize the ones that I have. I think I have about 8 but they are all zero balance. no activity.... I think i will try what several people have suggested charge under 9% of the balance and the payoff before it reports...right?

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Couldn't hurt... just keep your balances between 1 and 9% for maximum FICO impact.

That sounds like something a NASA rep would say... lol.... in 10, 9, 8....

Sorry, I am having a couple drinks, lol

[Anonymous]

Thanks for the advice everyone !!

[Anonymous]

Paying them off completely will LOWER your score
0% UTL is bad for FICO.

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@TULO30 wrote:

Sweetie, this is simple really. You simply need lots of credit and little to no utilization and long history of doing that and your scores go up.

If you have credit cards with balances pay them down - paying them coompletely off would be even better.

Open new accounts, but don't use them. keep your balances low and pay on time and your score will go up. Good luck!

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[theREBIRTHofCREDIT]

I agree....  She stated "charge under 9% utilization and pay them off to 0 before they report, right?" This is WRONG!! You should charge under 9% utilization and wait until AFTER they REPORT to pay it off. If you just happen to charge more than 9% then you must pay it down to 1-9% BEFORE they REPORT. (then afterwards if you chose to pay if off in full, do so. Only AFTER the creditor has reported your 1-9% utilization balance.... Good Luck!