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699

Contributor

699

Is my score right now, wish it was at 700 but it should be in the next 6 months..

 

I have one card, out of several I've never used once with only a 500.00 limit for car place, I am thinking I should drop it. Do you think it would matter that much? Was also thinking of getting rid of my gap card but may leave that.. not sure, what are your thoughts on dropping older credit accounts. I know they say leave them open, but I feel like it could be useless with just 2 dropped? I still have car loan on there and about 5 other ccs.

Message 1 of 5
4 REPLIES
Epic Contributor

Re: 699

No.  Don't drop an older card.  That's where you get your AAoA.

 

Car loans are a very little part of your score.

 

What type of utilization do you have on the cards.  Overall and individual?

Message 2 of 5
Contributor

Re: 699

Ok, 

 

 

I have 2 ccs that are not maxed out, but close to it. I have 3 ccs with half their limit on them, and then 3 with no balances at all.. 1 car loan that is 2 1/2 years in. only have 6 years on credit since I am in mid 20s. I plan to pay everything down to either 1/4 or close to 0 by the end of this summer.. So it goes like this in a way.

 

 

1250 of 1500

1250 of 1500

500 of 1500

700 of 1500

1200 of 3500

0 of 3500

0 of 2000

0 of 1000

0 of 500 auto car repair cc wanted to get rid of this

0 of 1000 gap cc wanted to get rid of this

 

but if anything i will leave alone.. thanks for your help would love to be at 750 or higher.. even though I know my score isn't too bad considering. car loan is at 5.25% so not bad rate at all it was a pre owned.. so was a hell of a rate considering.

Message 3 of 5
Epic Contributor

Re: 699

If you start paying down your cards your score will go up as they go down.

 

For optimum scoring, never let all the cards report 0 balance.  FICO doesn't like to see that.  Keep all but one at 0, use one but keep it reporting under 9%.  You can play around and see what works best for you.

 

 

Message 4 of 5
Highlighted
Contributor

Re: 699

Yup, I've studied a long time on here, but because of lifes instances and unfortunate events some of my cc debt has remained and I was debt free at once. Score has gone from a 625 to 699 but I hope to get higher and higher.. 

Message 5 of 5