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Contributor
Sitori
Posts: 268
Registered: ‎10-25-2012

Help with my credit report...

I just got my TU credit report. Down from 700 to 677 from November to now. I opened an amazon, discover and cap1 all in Oct/Nov of last year so I'm sure that affected it. I just paid off my cap1 which hasn't shown yet on my report so hopefully that'll boost it a little but I just had a question regarding my accounts.

It says I have 9 total accounts and I opened 6 last year with 6 reporting balances. Since I only opened 3 credit cards I can only assume the others are from student loans. I Didnt realize they showed as accounts opened. My student loans are being deferred right now bc I'm still in school. Is this hurting me?

I need to apply for care credit in May for alot of dental work and I'm afraid now I won't be approved. My AAOA Is bad, I only have 1 year reporting with my oldest being 3 years. Trying to pay off my other credit cards before applying but obviously the student loans are not going to be paid off.

Do they look at student loans the same as credit accounts?

It's also showing 8 inquiries in the last year. When applying for a student loan is that considered an inquiry too?

This stinks. I thought I was doing really well. Hopefully when I pay off my last card ill get back up to 700. But I'm just concerned with be able toget new credit in the next month with this issue of my AAOA and number of accounts showing balances.

-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011

Re: Help with my credit report...


Sitori wrote:
I just got my TU credit report. Down from 700 to 677 from November to now. I opened an amazon, discover and cap1 all in Oct/Nov of last year so I'm sure that affected it. I just paid off my cap1 which hasn't shown yet on my report so hopefully that'll boost it a little but I just had a question regarding my accounts.

It says I have 9 total accounts and I opened 6 last year with 6 reporting balances. Since I only opened 3 credit cards I can only assume the others are from student loans. I Didnt realize they showed as accounts opened. My student loans are being deferred right now bc I'm still in school. Is this hurting me?  All open accounts in good standing are good, except when they are new as that hurts average age of accounts, but that will pass in time and help.

I need to apply for care credit in May for alot of dental work and I'm afraid now I won't be approved. My AAOA Is bad, I only have 1 year reporting with my oldest being 3 years. Trying to pay off my other credit cards before applying but obviously the student loans are not going to be paid off.  Just because your student loans are counting doesn't mean you won't be approved for carecredit.  They were the first company to give me credit after the BK 8 years ago and my CLI with them is up to 8K now.  Be good to carecredit and they will be good to you.  A 677 score will most likely get you a carecredit card, don't sweat it.  But yes keep paying off your other cards because the lower the utilization, the higher the score.

Do they look at student loans the same as credit accounts?  Who are "they"?  FICO?  How it scores you?  Student loans are installment accounts, credit cards are revolving, this is good because it shows a mix of credit.

It's also showing 8 inquiries in the last year. When applying for a student loan is that considered an inquiry too?  Yes.  An inquiry is an inquiry.  Some are "hard pulls" which can count against your score, though not as much as people thing.  A "soft pull" which is what you do when you pull your own credit, does not affect your score.  Hard pulls stay on your reports 2 years but only count towards scoring for 1 year, and soft pulls are removed after 1 year.

This stinks. I thought I was doing really well. Hopefully when I pay off my last card ill get back up to 700. But I'm just concerned with be able toget new credit in the next month with this issue of my AAOA and number of accounts showing balances.  What stinks?  I'm confused why you are upset.

 

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Contributor
Sitori
Posts: 268
Registered: ‎10-25-2012

Re: Help with my credit report...

Upset bc I didnt realize the student loans are affecting my score.
My report says the AAOA is the number one reason for my score dropping and not being higher than it is. If I continue getting student loans won't that continue to hold my score back from getting up or staying up in the 700s?

I paid off my cap1 card but it's still reporting on my credit report with a 450$ balance. I paid it a few weeks ago. Do you think it'll report as zero balance next month? If I have a 677 now, once it shows as another account paid off do you think it'll push me up over the 680 mark?

I'm not sure who care credit pulls but I'm seeing it on my TU report..not sure if its also on the EQ. If they check the TU instead I may have a better chance since I have a higher TU score.

-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011

Re: Help with my credit report...

I also went to college and had 12 different Sallie Mae loans reporting until I consolidated after I graduated, now only 2 report. (Subsidized/unsubsidized). At first it stinks but boy oh boy, it sure helped my score when I was house buying. My EX (which reported them after the 10 year fall off date) score was always higher (see sig) than the rest - I never could figure it out until those loans fell off!!! So in time you will be so glad they are there.

Just last year they resold, so they re-reported. There is nothing you can do about it except accept it or stop getting loans. Go over to the student loan section for more info if you are still bugged about it

Make sure at least one of your revolving accounts reports a small balance for max FICO pointage. Good Luck
STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Frequent Contributor
sarkell
Posts: 345
Registered: ‎02-27-2013

Re: Help with my credit report...

It looks like this most new accounts turn 6 month you should see a boost. If you can get your utility reporting below 10% then it should be no problem. To get in 700. But try to keep low until then if possible.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


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