Understanding FICO® Scoring

[tpayne105]

Hello all...

I have been on these boards now for almost 2 months and the information is unreal.  I just wanted to share that today my score is now up to 555 with Equifax.  Just 7 weeks ago it was near 500.  I really want it to keep going.  I have had a few results with GW letters...going to send out a new set of letters here real soon...

Thanks for the encouragement and help!

[CreditBob]

Congradualtions on getting ahigher score. Always keep making your payments on time. If you do not have a credit card then apply for one. If you can not apply for a unsecured card then get a secured visa or mastercard. Keep 1-9% useage of your line of credit as a balance. So on a $ 500 card keep a balance around $ 5 and in tiem your score will go up. Then unless you absolutely have to only apply fro new credit once evry 13 months. The computer keeps track of what you ahve done in the last 12 months. I use the 13 month rule so that the scoring system has a chance to catch up.

[myhearts07]

Yes, WOW! WTG!!

[Tuscani]

Excellent!

[tpayne105]

I was paying bills and I noticed Target increased my credit limit to $500 from $200 in all of just 3 months.  I didn't even ask for this increase.....AND I won't complain!

[creditworthyagain]

And you will continue to reap the benefits of your hard work!  WTG!