topic Re: Stop Me Before I Do Something Again in Understanding FICO® Scoring

Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 03:51:12 GMT

Okay, the consensus seems to be that the best option for me to reach my goal of 760 by the end of the year is basically to do nothing, other than keep paying my bills and keeping my util low, which it already is.

But...

But...

I have this urge to tweak, to tinker, to try to 'fix' something in my credit report, even though there is nothing really to be fixed.

Inaction is vastly harder than action.

Yet, through action, I fear I may become my own worst enemy.

What should I do?

Message Edited by watchnerd on 05-03-2008 08:51 PM

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 04:50:59 GMT

Hey buddy, if you want to tweak or tinker with something, I'll gladly hand over my reports to you so you can play with them and maybe make the magic happen on those accounts that I haven't been able to yet! geez!

What about your wife's reports? Anything to be fixed on hers?

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 05:11:39 GMT

@Anonymous wrote:
Hey buddy, if you want to tweak or tinker with something, I'll gladly hand over my reports to you so you can play with them and maybe make the magic happen on those accounts that I haven't been able to yet! geez!
What about your wife's reports? Anything to be fixed on hers?

I'm actually the one with dinged up credit in the family.

Her scores are TU 764, EQ 768, and EX 759. The only thing she gets penalized for is having a credit history that is too short (6 years).

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 05:43:05 GMT

Hey Watchnerd me too, DH is sterling, me I need HELP!!

DH TU 801, EX 819, EQ 814- He is my FICO hero.

He has a long history of, no lates, no derogs, average age of accounts 7.5 years, oldest account 19 years. And he IS as handsome as Adonis himself!

HE has- 3 major cards, 2 store cards, two installment accounts. 10 closed paid installment accounts.

(soon to be 11 next month - my car will be paid off-less than one year at zero %, but he had a three year loan)

When I grow up I want to be just like him!

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 06:56:36 GMT

Yes, sometimes doing nothing is the best approach. Even if it is annoying.

Go find yourself a nice sim to play with.

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 06:57:40 GMT

Do you mean a FICO sim or something like Civilization?

Re: Stop Me Before I Do Something Again

marty56 — Sun, 04 May 2008 12:13:20 GMT

You could always do a 30 day late and then play the GW game. If you are really feeling brave, try a CO or 2 and do the PFD dance.

Re: Stop Me Before I Do Something Again

MidnightVoice — Sun, 04 May 2008 14:28:50 GMT

@Anonymous wrote:
Okay, the consensus seems to be that the best option for me to reach my goal of 760 by the end of the year is basically to do nothing, other than keep paying my bills and keeping my util low, which it already is.

But...

But...

I have this urge to tweak, to tinker, to try to 'fix' something in my credit report, even though there is nothing really to be fixed.

Inaction is vastly harder than action.

Yet, through action, I fear I may become my own worst enemy.

What should I do?

Message Edited by watchnerd on 05-03-2008 08:51 PM

OK, so I am in the same situation. I have done nothing since Xmas, and can't do anything except wait until January '09.

It is frustrating and irritating, but I don't NEED any more credit, and I don't NEED CLIs.

So my best course of action, financially and FICOally is to sit and wait and try and irritate as many people here as possible

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 16:18:44 GMT

Hey watchnerd just saw your tagline. So your scores 5/1: TU 741, EQ 732, EX 750

Yes wait it out, NO tweaking. I would think by December with paying and keeping UTIL down you will hit your goals. It looks like time could be your best friend. If you get 20 points for paying on time over 6 months all but EQ would be there. And EQ would only be 8 points off.

You have gotten this far. The waiting is painful, but reaching your goal is well worth it!

BTW, your scores are VERY NICE.....I would love to be where you are!

You obviously have done some very good things to your credit!

Re: Stop Me Before I Do Something Again

haulingthescoreup — Sun, 04 May 2008 16:39:19 GMT

I've seen over and over again how hard it is to switch out of hunter mode into gardener mode (and I've had a couple of surprises there myself, lol.) It really does take a conscious decision and effort to switch gears.

@MidnightVoice wrote:

So my best course of action, financially and FICOally is to sit and wait and try and irritate as many people here as possible

And as always, your efforts have been successful.

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 17:03:13 GMT

@Anonymous wrote:
Hey watchnerd just saw your tagline. So your scores 5/1: TU 741, EQ 732, EX 750

Yes wait it out, NO tweaking. I would think by December with paying and keeping UTIL down you will hit your goals. It looks like time could be your best friend. If you get 20 points for paying on time over 6 months all but EQ would be there. And EQ would only be 8 points off.

You have gotten this far. The waiting is painful, but reaching your goal is well worth it!

BTW, your scores are VERY NICE.....I would love to be where you are!

You obviously have done some very good things to your credit!

Well, thanks, it has taken a while. I had pretty awful scores 10 years ago and lots of low-rent credit cards, too.

Here are a few things that I'm considering that don't involve apping, disputes, CLIs, or any of the other things I really don't need or are more likely to do more harm than good.

You all please tell me if you think they're harebrained:

1. I have an CU account from college that is set to drop off this year. I'm going to see if I can re-open it and keep the date. That would give me an account going back 20 years.

2. My wife has a Chase / Circuit City card that she had before we were married. I think she bought an iron with it or something. In any case, it's one of our older cards, and I'm not on it. Wondering if I should get myself added.

Re: Stop Me Before I Do Something Again

MidnightVoice — Sun, 04 May 2008 18:04:25 GMT

watchnerd wrote:

Here are a few things that I'm considering that don't involve apping, disputes, CLIs, or any of the other things I really don't need or are more likely to do more harm than good.

You all please tell me if you think they're harebrained:

1. I have an CU account from college that is set to drop off this year. I'm going to see if I can re-open it and keep the date. That would give me an account going back 20 years.

2. My wife has a Chase / Circuit City card that she had before we were married. I think she bought an iron with it or something. In any case, it's one of our older cards, and I'm not on it. Wondering if I should get myself added.

1. It will stay on for 10 years after it is closed

2. That card may need reactivation, which may cause a hard pull. Jointing it may also result in a hard pull.

Re: Stop Me Before I Do Something Again

Anonymous — Sun, 04 May 2008 18:32:19 GMT

@MidnightVoice wrote:

@Anonymous wrote:

Here are a few things that I'm considering that don't involve apping, disputes, CLIs, or any of the other things I really don't need or are more likely to do more harm than good.

You all please tell me if you think they're harebrained:

1. I have an CU account from college that is set to drop off this year. I'm going to see if I can re-open it and keep the date. That would give me an account going back 20 years.

2. My wife has a Chase / Circuit City card that she had before we were married. I think she bought an iron with it or something. In any case, it's one of our older cards, and I'm not on it. Wondering if I should get myself added.
1. It will stay on for 10 years after it is closed

2. That card may need reactivation, which may cause a hard pull. Jointing it may also result in a hard pull.

Yes, it was closed in October, 1998, opened in 1989, and is my oldest account. Hence my desire to re-open it.

Re: Stop Me Before I Do Something Again

Junejer — Tue, 06 May 2008 04:46:41 GMT

@Anonymous wrote:

@MidnightVoice wrote:

@Anonymous wrote:

Here are a few things that I'm considering that don't involve apping, disputes, CLIs, or any of the other things I really don't need or are more likely to do more harm than good.

You all please tell me if you think they're harebrained:

1. I have an CU account from college that is set to drop off this year. I'm going to see if I can re-open it and keep the date. That would give me an account going back 20 years.

2. My wife has a Chase / Circuit City card that she had before we were married. I think she bought an iron with it or something. In any case, it's one of our older cards, and I'm not on it. Wondering if I should get myself added.

1. It will stay on for 10 years after it is closed

2. That card may need reactivation, which may cause a hard pull. Jointing it may also result in a hard pull.

Yes, it was closed in October, 1998, opened in 1989, and is my oldest account. Hence my desire to re-open it.

I don't think that they are hairbrained at all. If you can swing the first one, hats off to you. I will definitely keep that bad boy around for another decade plus. You have to consider how much the hards are going to hurt your efforts to get to 760.

Re: Stop Me Before I Do Something Again

Anonymous — Tue, 06 May 2008 12:40:19 GMT

You said 'hards'.

K, done being 14 now.

Re: Stop Me Before I Do Something Again

Junejer — Tue, 06 May 2008 12:46:36 GMT

@Anonymous wrote:

You said 'hards'.

K, done being 14 now.

That's what she said.

Re: Stop Me Before I Do Something Again

Anonymous — Tue, 06 May 2008 14:21:17 GMT

Okay, apparently it is possible for me to re-open the $500 line of credit I had in 1989 at the university CU when I was in college (used it to buy a stereo).

However, it will require an inquiry. I'm also wondering if such a small credit line would look odd on my report. And how are personal loans counted, anyway? Presumably as installments?

So, should I attempt this?

Re: Stop Me Before I Do Something Again

Junejer — Tue, 06 May 2008 15:25:29 GMT

This is a line of credit. Goes toward revolving debt.

Re: Stop Me Before I Do Something Again

haulingthescoreup — Tue, 06 May 2008 17:40:24 GMT

@Anonymous wrote:
Okay, apparently it is possible for me to re-open the $500 line of credit I had in 1989 at the university CU when I was in college (used it to buy a stereo).

However, it will require an inquiry. I'm also wondering if such a small credit line would look odd on my report. And how are personal loans counted, anyway? Presumably as installments?

So, should I attempt this?

History is history. This costs you nothing, other than an inq, and it can keep reporting as long as the CU lets you keep it.

Even better than a mortgage. I have heard that mortgages do eventually get paid off (really! I heard this!), and then 10 more years and gone. You can use this puppy to pay your "final expenses." Or your family can, I suppose...

Re: Stop Me Before I Do Something Again

Anonymous — Thu, 08 May 2008 02:49:07 GMT

$500 for a funeral?

**bleep**, that's cheap. Probably only enough money to rent a wood chipper and run me through it.