Credit Cards Center Credit cards from our partners
Reply
Contributor
Posts: 83
Registered: ‎03-22-2007
0

How to raise your fico score

 
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

My experience has been you can't raise your FICO. It's li...

My experience has been you can't raise your FICO. It's like your DNA. Once you are assigned a low FICO, that's it. Ever see Gattaca? That's what credit scoring is: a lifetime mark.
- - - -
in a credit-scoring postnuclear Stone Age...
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

The theory is that you should have multiple cards, but ne...

[ Edited ]
The theory is that you should have multiple cards, but never actually use them for credit. Charge just enough to get a bill each month, and then pay the minimum on the bill. A $30 purchase does the trick nicely. Lather, rinse, repeat for a year, then bug the card-issuer for a credit line increase. Not that you'll actually use all the credit, mind you, it just looks good. Keep charging a little bit, and studiously paying on time, and you should be up to $5000 limits in a few years with a great FICO. That's a great tactic if you're just starting out...now if you're like me and have charge-offs on your credit report, forget it. Nothing will improve your score, because as soon as it begins to rise, a collection agency will re-report your old debt and make it look new so your score drops again. If you have charge-offs just keep one card for emergencies and forget about FICO until the charge-off drops from your account (seven years).

Message Edited by TheNewWorldMan on 03-25-2007 11:33 AM
- - - -
in a credit-scoring postnuclear Stone Age...
Highlighted
New Contributor
Posts: 82
Registered: ‎03-31-2007
0

Newworldman,   Your postings crack me up. I'm happy that...

Newworldman,
 
Your postings crack me up. I'm happy that recent increases in your scores have given you a little more faith in FICO. Personally, I dont like all the hoops one has to jump through with CCs. I just got 3 card and I've already maxed them out...that's what I got them for! to use!
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.