General Credit Topics

[BBYGRL]

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Richard9091 wrote:

I just wanted to write a thank you note to this forum.  I didn't realize I was basically credit ignorant.

I had pretty well paid my bills on time for years, but I had high utilization.  Based on info from this forum I learned this was one of the worst credit management mistakes. I paid off most of my credit cards.  I also had an incorrect collection being reported that was removed.  My equifax went from 650 top 784 at one whack..  Thanks again.   I just hope the other agencies follow suite.

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Wow!  Congrats Rich!

[twt11]

Richard -

I am planning on paying down my CCs next week.  I'm trying to get an idea of what will happen to my score.   Right now my util is 103%.  Ouch.    Do you remember what your util was before you paid down the debt?

[ByrdMan]

Nice Richard. Shoot some of that karma my for TU (aka the Haters). I could use 134 points from them.

[Richard9091]

Yes , it was close to 100%.  I was over limit on one card and two others were within $150 of maxed out.  I didn't have real high credit limits on these.   I just had really bad credit management.  I bought and paid close to half on my cards each month, but, I always worked around the top of my limits.  I couldn't get high limits because my score was always in the mid to lower 600's.  I really never did know exactly why my score wouldn't go up.  I could get a couple of inquiries and my score would drop 10 or 15 points.  I will never ever use credit cards like that again.  The difference it makes on interest rates on credit that you really need, like a car or home mortgage can make thousands of dollars difference.  I can now get a 0% on any car loan. and I can get a low doc mortgage for around 6%.

Don't give up on the plan.  It took me a few months to get the cards to under 20% utilization, but, as you can see it was well worth it.

[Richard9091]

Byrdman,  Why do you suppose you have such a difference in your Equifax over your TransUnion?

I have this same fear that my 784 will be on one report , but that the others won't pick up on it somehow.  I may just be impatient, because the equifax changed and the others havn't yet.

[ByrdMan]

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Richard9091 wrote:

Byrdman,  Why do you suppose you have such a difference in your Equifax over your TransUnion?

I have this same fear that my 784 will be on one report , but that the others won't pick up on it somehow.  I may just be impatient, because the equifax changed and the others havn't yet.

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Richard, I wouldn't worry about that. My problem (well-documented on these boards) stem from some baddies from the ex-wife being merged onto my report. Most notably is the local utility company reporting her crap on my report when she didn't pay (even though she lived there), b/c I had lived there and paid on the account. There are four 90 day pd. on the account, that they merged onto my "new" account. I am in the process of GWing them right now. Fingers crossed.

[casinoannie97]

that's great. it's really tough to move up on eq.

tu--735--ex--761--eq--696

1% util

Message Edited by casinoannie97 on 02-13-2008 07:58 PM

[indiasnowden]

Congrats!