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A Pandarus virgin?
haulingthescoreup wrote:
ByrdMan wrote:
Wow, you and HTSU have been getting busy discussing your credit devirginization. I'd say you have rounded second and are heading into third. Watch the signs closely though, you wouldn't want to misread the sign and wind up out at home.
Goodness, I've never played Pandarus before!
It sounds as though ByrdMan is taking things over now.
Oh, by the way, as in so many things, you'll probably do best to start with one kind-hearted conquest first. I'd go for the CU first and get some practice (establish some history) before going after the hotties.
wow, hope my kids don't read this...
LOL. I am done with all of the analogies/metaphors/similes or whatever they are.
haulingthescoreup wrote:
No, no, you're combining the characters here! And I refuse to go any further.
A few days ago I was reading this list of AA reasons and I noticed it kept referring to "bank/national revolving accounts." Is that likely distinguishing between major national banks like Citi/Chase/BOA and credit unions/regional banks?
Also, if anyone can dig up where the admin said the big nationals count more, I'd love to read that.
Ok, I think I may have found the note about national banks HTSU was referring to. Barry said, "While it's good to have any credit card, the scoring formula gives you a few more points for having a card issued by a 'national' bank card issuer, i.e. Chase, BofA, Wells Fargo, etc, as opposed to a small/regional bank or credit union." So that does sound like cards from credit unions and small/regional banks don't factor as highly, nor do they count for credit mix.
So, as long as I'm aiming for perfection, why not just get 3 major national cards, a store card, and an installment loan?
By the way, HTSU, where did you get this formula of doubling the number of installment loans and adding two or three to that to get the ideal number of credit cards?
@haulingthescoreup wrote:
@MattH wrote:
@haulingthescoreup wrote:
...
Goodness, I've never played Pandarus before!
...Look out for Diomedes
I was going with the Chaucer and Shakespeare versions!
I forget who defined millihelen as sufficient pulchritude to launch a single ship
@Junejer wrote:
A Pandarus virgin?
Well, I suppose that depends whether one prefers Homer's version or the Chaucer and Shakespeare versions of the character...
Here's a scholarly book with much more information than most would want to know!
FICO scoring will tell you that you have too many accounts with balances, if you have 50% or more of your open accounts with balances. So, because your installment loans and mortgages will have a balance, until it's paid off, you need to get under that 50% mark by adding revolving accounts that can have a $0 balance and still remain open.
pdxuser wrote:
Ok, I think I may have found the note about national banks HTSU was referring to. Barry said, "While it's good to have any credit card, the scoring formula gives you a few more points for having a card issued by a 'national' bank card issuer, i.e. Chase, BofA, Wells Fargo, etc, as opposed to a small/regional bank or credit union." So that does sound like cards from credit unions and small/regional banks don't factor as highly, nor do they count for credit mix.
So, as long as I'm aiming for perfection, why not just get 3 major national cards, a store card, and an installment loan?
By the way, HTSU, where did you get this formula of doubling the number of installment loans and adding two or three to that to get the ideal number of credit cards?
ByrdMan wrote:FICO scoring will tell you that you have too many accounts with balances, if you have 50% or more of your open accounts with balances. So, because your installment loans and mortgages will have a balance, until it's paid off, you need to get under that 50% mark by adding revolving accounts that can have a $0 balance and still remain open.
pdxuser wrote:
...By the way, HTSU, where did you get this formula of doubling the number of installment loans and adding two or three to that to get the ideal number of credit cards?
I am not HTSU, but I hope that I have been helpful.