Question about Fico score and updates...

[MRMAGOO222]

I live and work in Ohio (rural) - and we still have the store owner/managed charge account system -

I have 4 "store accounts" -

they require only a smile and thanks and timely monthly check submitted within 30 days.

maybe i live in mayberry -

but I can wave and drive off from the gas station like Barney Fife wavin at Goober.

Only thing is I can't find these accounts on my EX  EQ  or TU

Message Edited by MRMAGOO222 on 02-24-2010 07:23 PM

[SCF]

Haha Mr.Magoo, I'm in the same situation.  Live in a town in rural Montana and while I haven't been in town long enough to have my own store charge accounts (although I could probably get one at the hardware store if I wanted, nice folks over there) at least we never have to deal with petty cash for business purchases.  I think they only recently moved to sending something more advanced than a typed version of the hand-tally of charges at the end of the month.

No CBRs involved, but I would not reccomend skipping out on your bill.  See, they put a nice big list of everyone who's ever handed over a bad check, failed to settle up, or otherwise caused a financial issue on the counter right where the whole town can read it.  Amazing what a powerful influence that list can have on people...

[Anonymous]

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@krazy wrote:

Hi Everyone,

Just got my credit score and i have a 725.  The only recommendation that i could do right now is pay off some of my balances. I have 2 questions regarding this. First, how long does it take to affect my score? I plan on paying  about 75% -95% of my debt.I found that it will show my last balance on my statement, is this correct? Second, it also said that i should carry a blance on fewer cards... I am  a little confused becasue i thought if you don't use it companies might close your account or lower your CL. Is having 3 out of 5 cards with balances a better way to get a higher score. Thanks for the help.

2/22/10 Equifax 725  

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It takes a couple of weeks to show on your CR, usually. I still haven't had a report showing all zero balances on my cards, and that happened in early January. Might never see it.

Right now it depends on the bank and your personal finances whether or not they're lowering limits. I had one limit lowered and one account closed due to inactivity (didn't use it in the year and a half I had it). One was GEMoney, the other HSBC. I haven't had any problems with Chase, CapOne, or anyone else. You probably wouldn't have any problems. Good credit score, paying balances, can't go wrong.

[haulingthescoreup]

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SCF wrote:

Haha Mr.Magoo, I'm in the same situation.  Live in a town in rural Montana and while I haven't been in town long enough to have my own store charge accounts (although I could probably get one at the hardware store if I wanted, nice folks over there) at least we never have to deal with petty cash for business purchases.  I think they only recently moved to sending something more advanced than a typed version of the hand-tally of charges at the end of the month.

No CBRs involved, but I would not reccomend skipping out on your bill.  See, they put a nice big list of everyone who's ever handed over a bad check, failed to settle up, or otherwise caused a financial issue on the counter right where the whole town can read it.  Amazing what a powerful influence that list can have on people...

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lol, our local gas/ cat food/ video/ beer/ live bait stores thumbtack bounced checks up on the wall behind the register for all to study as they stand in line. A powerful motivator for the regulars!