Rebuilding Your Credit

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
randonie
New Member
randonie
Posts: 14
Registered: ‎11-24-2012

Question about my Ratio of revolving accounts

Options

‎11-29-2012 03:18 PM

I just got my Fico scores from EQ and TU and I see that the rratio of my revolving balances to my credit limits is 
130%

 

Now is that because I have student loans and an auto loan and no credit cards?

I plan on getting two secure cards from different company with both limits totaling $2000-$2500 and put nothing more then a few bucks on the cards. Will this help that ratio lower?

 

Thanks!

Starting Score: 492 TU 437EQ ( November 29, 2012)
Current Score: 492 TU 437EQ ( November 29, 2012)
Goal Score: 700 (For starters)

Take the FICO Fitness Challenge
Message 1 of 6 (224 Views)
 
Reply
Frequent Contributor
sphinx313
Posts: 550
Registered: ‎02-12-2011

Re: Question about my Ratio of revolving accounts

Options

‎11-29-2012 04:15 PM

You have no credit cards at all? How about some that charged off in the past that are still reporting that way? Something on your report is affecting your utilization and loans do not count.


Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700

Take the FICO Fitness Challenge
Message 2 of 6 (203 Views)
 
Reply
randonie
New Member
randonie
Posts: 14
Registered: ‎11-24-2012

Re: Question about my Ratio of revolving accounts

Options

‎11-29-2012 05:01 PM

Yea i had a Military Star Card and a secure card. 

Starting Score: 492 TU 437EQ ( November 29, 2012)
Current Score: 492 TU 437EQ ( November 29, 2012)
Goal Score: 700 (For starters)

Take the FICO Fitness Challenge
Message 3 of 6 (196 Views)
 
Reply
Frequent Contributor
sphinx313
Posts: 550
Registered: ‎02-12-2011

Re: Question about my Ratio of revolving accounts

Options

‎11-29-2012 06:12 PM

Do these cards still have balances or are they $0?


Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700

Take the FICO Fitness Challenge
Message 4 of 6 (179 Views)
 
Reply
Moderator
Moderator
Shogun
Posts: 7,374
Registered: ‎04-15-2011

Re: Question about my Ratio of revolving accounts

Options

‎11-29-2012 11:31 PM

The new cards will help offset your util, however paying off or removing the old charge offs would decrease it greatly.

Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Message 5 of 6 (160 Views)
 
Reply
randonie
New Member
randonie
Posts: 14
Registered: ‎11-24-2012

Re: Question about my Ratio of revolving accounts

Options

‎11-30-2012 05:48 AM

Just the Military star card is showing a balance of $0. Also I have a USAA Credit Card thats showing up as late which is news to me. I called the bank and they said I have no account in that standing with them. So how can I get that off my credit?

Starting Score: 492 TU 437EQ ( November 29, 2012)
Current Score: 492 TU 437EQ ( November 29, 2012)
Goal Score: 700 (For starters)

Take the FICO Fitness Challenge
Message 6 of 6 (137 Views)
 
Reply

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
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+