04-24-2007 08:15 PM
04-24-2007 09:08 PM
04-24-2007 09:37 PM - edited 04-24-2007 09:52 PM
04-25-2007 04:05 AM
04-25-2007 04:13 AM
keneyone wrote:Paying all your debts wont help you as much to increase your score. Payment history and good management of your credit cards will have major impact when it comes to establishing your credit scores. You guys have to wait for like 6 months or a year before having better score to buy house. I as an example. For instant, i was in debts for 5 thousand dollars, which also has three 90 late days, and four 120 late days as well. I managed to paid off all my debts in 12/05. And when i was trying to buy a car in May 2006, my Equifx credit score was 585 not even possible to get a desent % rate...Some people told me that it will take me like six to seven years to get to 700ss, but what i did was maintaining my credit, and paying all my bills in time. As of yesterday, i received myTU credit score...my score is now 725 just after one year....and i cant wait to get a car. So, all i can say is for you and your hubby to have patience for upto a year. I am sure by then your score will improve more. GOOD LUCK. checkout this site....it will help u a lot to understand http://www.fool.com/ccc/check/check02.htm
Message Edited by keneyone on 04-24-2007 09:52 PM
04-25-2007 06:47 AM
04-25-2007 07:04 AM
04-25-2007 09:19 AM
04-25-2007 10:13 AM - edited 04-25-2007 10:13 AM
keneyone wrote:Whats not true?...maybe you dont understand what i said. what i am trying to say is that paying all your debts off wont help your credit score to rise as much. But proving that you can pay your bills in time will help much more in terms of establishing their scores.
04-25-2007 10:21 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.