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Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: 61% utilization and 750 credit score...?

You should have left all those lines open, assuming they weren't something like Target or Crapital One, whose cls BARELY ever grow LOL

 

I vote you getting an Amex ;-)

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New Contributor
Posts: 66
Registered: ‎10-30-2011
0

Re: 61% utilization and 750 credit score...?

In case I am unable to pay off my Penfed before the 0% interest runs out in September 2014 and my promotional rate of 3.5% at Lowes runs out on April 2015, I want my credit to be in top form to do another balance transfer. My normal rate with Penfed is 9.99% and 24.99% at Lowes. I made a decision a while back in December 2012, that I want establish as much relations with Penfed. Their rates on mortgages and c auto loans are as amazing as their credit products. That is why I closed all those other credit lines and haven't bothered to get other prime cards. I'm a Penfed groupie.

Starting Score: TU 749 02/02/2014
Current Score: TU 749 02/02/2014
Goal Score: 850


New Visitor
Posts: 1
Registered: ‎01-12-2010
0

Re: 61% utilization and 750 credit score...?

How is he considered 'thick'? Is it because he has 37 accounts or whatever opened? Arent' those technically 'fake' since 30 of them are probably student loans that just get split up and make it look like seperate accounts when in reality they are just a single one? That is how it is for me anyway.

Frequent Contributor
Posts: 465
Registered: ‎01-03-2013
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Re: 61% utilization and 750 credit score...?


razman wrote:

How is he considered 'thick'? Is it because he has 37 accounts or whatever opened? Arent' those technically 'fake' since 30 of them are probably student loans that just get split up and make it look like seperate accounts when in reality they are just a single one? That is how it is for me anyway.


+1 for a manual review.


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New Contributor
Posts: 66
Registered: ‎10-30-2011
0

Re: 61% utilization and 750 credit score...?


razman wrote:

How is he considered 'thick'? Is it because he has 37 accounts or whatever opened? Arent' those technically 'fake' since 30 of them are probably student loans that just get split up and make it look like seperate accounts when in reality they are just a single one? That is how it is for me anyway.


I only have 4 student loans on my credit report.  You are correct about my student loans appearing more than once for the same account sort of...  I had 2 student loans that I refinanced and the original loan and the refinanced loans both appear on my credit report.  But my loans were not split because I did not get a subsidized student loan.

 

I have 7 paid off car loans. 10 paid off unsecure personal loans ranging from $3,000 to $10,000. 1 open mortgage. 2 open car loans.  5 open credit cards.  The rest are closed credit cards.

 

I pretty much paid off a quarter million dollars worth of auto loans in 10 years.  So yeah, I would consider myself as having a thick profile.  No smoke and mirrors here.


Starting Score: TU 749 02/02/2014
Current Score: TU 749 02/02/2014
Goal Score: 850


Moderator
Posts: 10,432
Registered: ‎12-30-2011
0

Re: 61% utilization and 750 credit score...?

FWIW my anecdotal understanding of being a "thick" file is 4 or more tradelines on the report.

 

Not that hard for anyone to accomplish with knowledge that having at least 4 tradelines is typically a good thing, from recent reports that number is still being used on mortgage qualification.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
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