Building up my Credit

[sweets2323]

My brother score is 975, I never knew that existed... What he does is. he has a card that he uses everything for. Even if its 2.00 at the end of the month he pays ot all off and if he cant. he makes sure that at least 90% is paid off. so he pays not interest if he gets it all paid by the end of the month.. he uses no cash whats so ever.

Do u think that if i do that, and I and I am discpiline enough that my score will eventually go up. I just paid off all my credit.. on my report excetpt for one where I pay a monthly bill every month with HSBC... i have like 2 yeats left. but its paid on time every month.

I had a 5500 charg off. That I just paid off last month.

2000 bill that i was paying monthly, That i paid off in good status. But I used it again. But plan  on paying it off this month..

Some of my inquiries will be dropping off soon. But I already got my 3 free reports this year. So, I have to request my report again and pay to find out how it looks . I pulled it about 3 months ago..

I would like to buy a car but refuse to buy one with this score, since the interest on a car directly reflects what score i have. So i am really trying to work on it. But If felt good to see it jump from 513 to 536 to 575 in from June 2010... So something is working right

any feedback or suggestions will help.. Oh and trying to get thr dergaotory stuff off my account is useless!!! no one falls for that PDF lette. Pay in full and in return delete from my account. I never had any luck with it. I tried disputing some stuff but they did not remove it I remember years ago, you dispute and the credit merchant never would reply in those 30 days so the credit bureu would delete. I guess now. they all respond in those thirty days  URGGGG

[MarineVietVet]

I will make one quick comment and let others add their advice.

That 975 is not a FICO score. It sounds like what is called a VantageScore. The score ranges for VS go from 500-990 while FICO ranges from 300-850. There is no way to compare the two scores. Your brother needs to buy a true FICO score to get an accurate picture.

May I ask where you got your scores? No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money. You can also purchase your Transunion score at www.transunioncs.com. I keep reading you can buy your Equifax score at www.equifax.com but I have yet to find the option of buying just a score.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[sweets2323]

i am a member here on Fico. and i paid the score watch and i fog my acore from Fico. I am not sure where he got his score from but if it says 975 i am sure that his fico score is still major high..

But I did get my score from myfico..

[MarineVietVet]

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@sweets2323 wrote:

i am a member here on Fico. and i paid the score watch and i fog my acore from Fico. I am not sure where he got his score from but if it says 975 i am sure that his fico score is still major high..

But I did get my score from myfico..

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Then you're in good shape as far as accuracy.  

Your brother's FICO might well be a high one but until he buys a score from myFICO or those other sites or his score is pulled by a lender he will never really know.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[sweets2323]

what do u think about me using my credit card ona daily use and paying it off at the end of the month.

[MarineVietVet]

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@sweets2323 wrote:

what do u think about me using my credit card ona daily use and paying it off at the end of the month.

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How many cards do you have right now that are in good standing? That might dictate what kind of answer to give.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[sweets2323]

I have a capital one card 14% interes. that is theonly credit card that I have that is in good standing. I dont woe anything any longer. I just finished paying all my accounts except one..I am on a payment plan for that one. But its paid o ntime every year. and I cant use that card. 

So I have a Capital One card and a Macy's card. Thats it. everything else is closed due to me not using it and the consumer closed it. or it was closed for non payment. but its allpaid for now zero balance. My car is paid for, I only have my mortgage. which for the past 8 months I have not been late and i plan on keepong it like that. I put it on automatic pay,.

[MarineVietVet]

You don't have to use any card everyday to keep it active. I use most of my cards to autopay monthly bills such as gas, water, cable, etc.

Since you have two cards try and make sure only one of them reports a small (less than 9% of credit limit) balance on your monthly statement and then pay that balance in full before the due date to avoid any finance charges.

The other card should always report a zero balance.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[sweets2323]

i wonder why my merchant closed it then. o well.. But I have a Macys card and Capital One

Capital One limit is 2000, I owed 2000 I brought it back down to 1000 but I used it again but I will be bringing it back down to 1000 in a few weeks. before the 30 days,.

Macy is limit is 100 i owe zero

If i use a card on the 10th of the month and the bill cut on the 15th of the month does that mean I only really have 5 days to pay that card off. cuz, I happened to use it right before the cut. or u always have 30 days on each day the card was use

[MarineVietVet]

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@sweets2323 wrote:

i wonder why my merchant closed it then. o well.. But I have a Macys card and Capital One

Capital One limit is 2000, I owed 2000 I brought it back down to 1000 but I used it again but I will be bringing it back down to 1000 in a few weeks. before the 30 days,.

Macy is limit is 100 i owe zero

If i use a card on the 10th of the month and the bill cut on the 15th of the month does that mean I only really have 5 days to pay that card off. cuz, I happened to use it right before the cut. or u always have 30 days on each day the card was use

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No. There are two separate dates to remember; the statement date and the due date. Whatever balance is showing on your monthly statement is the amount used that particular month to calculate card utilization. Be sure you have the balance paid down to below 9% of your credit limit a few days before your statement posts to make sure any outstanding charges have cleared.

Then you will have what is called a grace period. This is simply the time period between your statement date and the due date. It's typically three weeks or so. For example last month my Citi card posted a statement on August 7th with a due date of September 3rd. As long as I pay any balance showing on my statement by September 3rd I will owe no interest.

You'll need to check your accounts to see when these dates occur for you.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work