Want a 700

[dman23]

---

@Sbrooks1 wrote:
Cap one QS1 600/1100
CO plat 120/600
Care credit 350/500 baby had surgery
Fhut 600/2500
Merrick 40/550
Credit one 170/600
Auto loan 21000/28000
Student loans w Great Lakes 710
Ivan smith 2800/3500
All current and never late

---

Thanks.

Looks like 7 credit cards. Total credit limit is $9,350. Balance $4,680. That's a 50% credit utilization rate. That's high. To really optimize your credit score you would want to have reporting a zero balance on 6 and under 10% balance on the 7th credit card. There's plenty of room for score improvement here.

You have installment loans so you're mix is good.

[Anonymous]

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@Sbrooks1 wrote:
On credit mix😜

---

Credit mix is fine.  It's UTI that is something constructive you can work on.  Getting under 10% with only 1 card reporting is ideal for FICO scoring purposes.  That is the one thing that I struggle with and is something I'm working on this year.

[dman23]

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@Sbrooks1 wrote:
On credit mix😜

---

You're good.

My next post will show you how my credit score changed because my credit utilization went up. Just have to llok it up.

P.S. I got obsessed with this stuff. Have a file of past reports, excel files keeping track of scores and stuff, etc.

As you can see it paid off thanks to people who shared theire knowledge with me. It's only right that I reciprocate.

[dman23]

---

@Anonymous wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

Credit mix is fine.  It's UTI that is something constructive you can work on.  Getting under 10% with only 1 card reporting is ideal for FICO scoring purposes.  That is the one thing that I struggle with and is something I'm working on this year.

---

Agreed. And as you know now, even if you have high utilization one month and your score drops you can easily recover those points once you get your utilization down again.

[Anonymous]

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@dman23 wrote:

---

@Anonymous wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

Credit mix is fine.  It's UTI that is something constructive you can work on.  Getting under 10% with only 1 card reporting is ideal for FICO scoring purposes.  That is the one thing that I struggle with and is something I'm working on this year.

---

Agreed. And as you know now, even if you have high utilization one month and your score drops you can easily recover those points once you get your utilization down again.

---

I have the curse of $10k for new furniture financed on cards offering 0% interest between Decemberr and January.  That's why I am paying everything off by Jaly.  Just hope things will rebound.  Before the purchases scores were :  EQ 700, TU 690, EX 685. 

[dman23]

---

@dman23 wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

You're good.

My next post will show you how my credit score changed because my credit utilization went up. Just have to llok it up.

P.S. I got obsessed with this stuff. Have a file of past reports, excel files keeping track of scores and stuff, etc.

As you can see it paid off thanks to people who shared theire knowledge with me. It's only right that I reciprocate.

---

Last year I paid my income tax due with my credit card. (I have 3 credit cards and I don't want nor will I get anymore for the fun of it.)

I was keeping my credit utilization at 8-9%. My credit utilization for that month shot up to about 50%. My score went from 773 to 727. I did this as a test to see what would happen. As you can see there was a significant drop. As soon as I got back to having two of my cards reporting a zero balance and one showing a 7% balance my scores shot right back up.

So you can see how credit utilization can cause a significant change in your scores.

[dman23]

---

@Anonymous wrote:

---

@dman23 wrote:

---

@Anonymous wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

Credit mix is fine.  It's UTI that is something constructive you can work on.  Getting under 10% with only 1 card reporting is ideal for FICO scoring purposes.  That is the one thing that I struggle with and is something I'm working on this year.

---

Agreed. And as you know now, even if you have high utilization one month and your score drops you can easily recover those points once you get your utilization down again.

---

I have the curse of $10k for new furniture financed on cards offering 0% interest between Decemberr and January.  That's why I am paying everything off by Jaly.  Just hope things will rebound.  Before the purchases scores were :  EQ 700, TU 690, EX 685. 

---

It'll rebound

[Anonymous]

---

@dman23 wrote:

---

@dman23 wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

You're good.

My next post will show you how my credit score changed because my credit utilization went up. Just have to llok it up.

P.S. I got obsessed with this stuff. Have a file of past reports, excel files keeping track of scores and stuff, etc.

As you can see it paid off thanks to people who shared theire knowledge with me. It's only right that I reciprocate.

---

Last year I paid my income tax due with my credit card. (I have 3 credit cards and I don't want nor will I get anymore for the fun of it.)

I was keeping my credit utilization at 8-9%. My credit utilization for that month shot up to about 50%. My score went from 773 to 727. I did this as a test to see what would happen. As you can see there was a significant drop. As soon as I got back to having two of my cards reporting a zero balance and one showing a 7% balance my scores shot right back up.

So you can see how credit utilization can cause a significant change in your scores.

---

That's amazing.  I hope in the next year to be able to consolidate Cap 1, Amex, and if possible Barclays.  If I can get my scores over 700, I'm hoping for MC offers for Walmart and Sam's Club.  At different times of the year, I use my store cards, so I can't see closing any of them because minor purchases are paid in full and other purchases are 0% financing.  The only ones that don't offer the % financing is JCrew, Kohl's, Macy's (except furniture), and Talbots but I love their clothes and Kohl's small appliances, so I guess there is a "method to my madness".

[dman23]

---

@Anonymous wrote:

---

@dman23 wrote:

---

@dman23 wrote:

---

@Sbrooks1 wrote:
On credit mix😜

---

You're good.

My next post will show you how my credit score changed because my credit utilization went up. Just have to llok it up.

P.S. I got obsessed with this stuff. Have a file of past reports, excel files keeping track of scores and stuff, etc.

As you can see it paid off thanks to people who shared theire knowledge with me. It's only right that I reciprocate.

---

Last year I paid my income tax due with my credit card. (I have 3 credit cards and I don't want nor will I get anymore for the fun of it.)

I was keeping my credit utilization at 8-9%. My credit utilization for that month shot up to about 50%. My score went from 773 to 727. I did this as a test to see what would happen. As you can see there was a significant drop. As soon as I got back to having two of my cards reporting a zero balance and one showing a 7% balance my scores shot right back up.

So you can see how credit utilization can cause a significant change in your scores.

---

That's amazing.  I hope in the next year to be able to consolidate Cap 1, Amex, and if possible Barclays.  If I can get my scores over 700, I'm hoping for MC offers for Walmart and Sam's Club.  At different times of the year, I use my store cards, so I can't see closing any of them because minor purchases are paid in full and other purchases are 0% financing.  The only ones that don't offer the % financing is JCrew, Kohl's, Macy's (except furniture), and Talbots but I love their clothes and Kohl's small appliances, so I guess there is a "method to my madness".

---

Lol. Your "madness' works.

Not understanding or really caring how credit works, and after being irresponsible with them when I was younger I didn't use or have any credit cards for 15 years or so.

The only reason I have 3 credit cards is when I finally became aware that you need credit cards for credit scoring and reporting. I became so used to purchasing items with cash that I strictly use my credit cards for credit reporting and scores. I'm never tempted to impulsively buy things because I have 15k of credit on a card.

You seem to have good reasons for the cards you have so kudos to you. I'm sure too much credit for many people is a dangerous thing.

[Sbrooks1]

Let the madness continue 😍