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New Visitor
Posts: 2
Registered: ‎05-19-2008
0

Im a newbie needing some advice.

Hi all , am just signed up for Myfico and I am so glad I did.  My sister in law recomended this site and she swears by it.  I am in need of some serious help and/or advice.  I hope anyone can help.  Heres the thing.  I just checked my report and realized I have 7 open accounts, most of them CC's.  My score dropped from 720 to 683, I believe this is because of all the open, zeroed accounts.  What should I do. I want to raise my score back up into the 700's, and I aslo pay on time everything, every month.  Any advice??
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New Visitor
Posts: 2
Registered: ‎05-19-2008
0

Re: Im a newbie needing some advice.

BUMP!  Anyone PLEASE HELP.
Valued Contributor
Posts: 2,340
Registered: ‎04-08-2008
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Re: Im a newbie needing some advice.

Do you have any baddies??....if not...all you can do is keep doing what you are now...
Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
0

Re: Im a newbie needing some advice.

[ Edited ]
It would NOT be because of open accounts. I have 19 open accounts & my scores are all over 700.
 
Your scores are made up of length of history, CC  UTIL and payments  this counts more toward your scores then any other type of loan!
 
Look at your CRs  for any late payments, public records or CO.(1 30 day late within the last 2 years will hurt!)
 
What can hurt your scores
 
90+ day lates
collections
charge-offs
repos
foreclosures
public records (tax liens, judgments, BK past due child support)
maxed-out or over-the-limit revolving account


Message Edited by HappyDays on 05-19-2008 01:44 PM
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