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How to increase score

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MidnightVoice
Super Contributor

Re: 800 is extremely rare...



ctnbpl wrote:
any good "tricks" to increase? I dont have one but open for suggestion


How old are your TLs?
 
How recently did you open any new TLS
 
How much history do you have?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 61 of 171
ctnbpl
Contributor

Re: 800 is extremely rare...

How old are your TLs?
 
How recently did you open any new TLS
 
How much history do you have?

here is my summary as of today waiting for next report to update
 
TL:
Oldest account 11 years ago-Authorized user
Average account 4 years ago- Authorized user-owner
newest account 3 month ago
total limit on all account $56,000
Utliz 3%
Never late, no garnisment, no public record , perfect payment
 
Expected Credit Score when update:FICO
Transunion 780
Experian 785
Equifax 780
 


Message Edited by ctnbpl on 05-24-2007 08:43 PM
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Message 62 of 171
Anonymous
Not applicable

Re: 800 is extremely rare...

Your credit score jumped 50-60 points in 3 days at all 3 bureaus based off adding you as an authorized user and some more lines of credit?  How did the bureaus update this information so quickly?  Even applying and getting approved and getting the cards takes a few more days...
Message 63 of 171
Anonymous
Not applicable

Re: How to increase score

This is maddness...something seems way off here.
I currently work in the banking & finance industry and I have never heard of any such 800 score requirement for a job; however there does exist such exclusions due to certain major negatives being listed on a CR.
 
And can I get the "express" reporting service you are using to update your reports & scores so quickly?!?! Smiley Indifferent
Message 64 of 171
ctnbpl
Contributor

Re: How to increase score

As I mention is Expected , it not yet updated, process or authorization as authorized user is complete sucessful on 1 credit card that is 11 years old , and 4 credit card that are 4 years old, no late payment no garnisment , collection or other bad negative items, those score is what I am expect to be in next month when update
 
There is no such as express update, people call Equifax to dispute information and ask them to update a authorization user and it happen with  my friend and they do it after 2 days
 
As I mention: 800 score is possible to achieve even for people whose credit report starting 1 years ago( as my)
 
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Message 65 of 171
smallfry
Senior Contributor

Re: How to increase score

Don't go by the simulator.
Message 66 of 171
smallfry
Senior Contributor

Re: How to increase score

While your friend has a decent record it is not 800 calibre. His history is average at best. For you to be at 725+ with your history is unusual shall we say. Keep us informed.
Message 67 of 171
ctnbpl
Contributor

Re: How to increase score

My friend have 2 years and 3 month credit 2 credit card, and inherent 12 years his parent credit history, plus he took a car loan with he pay in 2 years, On his report his Fico credit score is 802 Transunion, 805 Equifax, and 796 Experian
 
The reason he got that fast in such as short period is:
When he start his credit card comapny give him a $340 limit
he increase everymonth limit and after 2 years and 3 month he have $34,000
 
The reason company give him a credit is:
January show bill of $2000, Febuary bill show that he have those $2000 debt and he pay it off before march statement so he do it very often and that work I have made this this year 1 times and it increase 24 point, last year I made it 3 times increase around 70 point, this techinque work for me
 
I will keep informed as I get updated report
I have no use simulator because it not work in realistic
 
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Message 68 of 171
Anonymous
Not applicable

Re: How to increase score

I'd love to know the card that increases your credit limit by $31,000 over 2 years from a starting point of $340, which card is that?
 
I have a great friend with 16 years of perfect credit, 3 mortgages, 2 paid off, 3 paid off cars and over $60,000 in credit with utilization at 11% and her score is only 767 average but your friend has 800+ based off 1 car loan and a couple credit cards over a couple years and only one card with more than a couple years?
Message 69 of 171
ctnbpl
Contributor

Re: How to increase score

 
What is your friend annual gross income? What about debt to income?

He use American Express Platinum Business Credit card
his annual income is over $260,000 and in the last 2 years he increased  his credit 24 times
 
As I see he got very good credit history, but one deregatory, missed payment or late payment could drop as much as 100 point.
 
I dont know what is the formula that calculate fico score ... what I think the most important think is pay bill on times, do a January spend $2000 (depend on utliz)  show this on Febuary bill, and pay it off before march statement, High Limit  with low utliz that the most imporant!
 
I have very close score to your friend after 1 year without any morgage, installment loan , just 2 credit card
 
Will increase after company report upate of 4 credit card- 4 years history perfect payment nad 11 years old history perfect payment and one car loan with 2 month to to pay off... hope it will go up to 60 point more.. close to 800 or over... I could't wait till see my next report...Smiley Very Happy
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Message 70 of 171
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