Info needed about fico score!!!

[Anonymous]

Hi everyone,

       I made some silly mistakes in the past in which i have now paid for. For the past 2 years i have paid all my bills on time and for some reason my score is SLOWLY increasing. I make sure i pay my credit card bills in fu ll so i don't carry over a balance. When i do use my credit cards i also make sure the balance is less than 35% of my limit. What else can i do?

thankx

[llecs]

Check out Credit Scoring 101. It is a great resource on what is and isn't in your score.

While you can use more than 35%, ideally you'd want your CCs to report less than 10% of the CL each month.

Pull each report and look for any bad accounts and tackle via the advice in here. If you have done all that you can do, then maybe time is the only answer. You'll likely see increases when your accounts hit that 1-2-3 yr anniversary. You'll also see increases when your avg. credit history hits a new year.

Message Edited by llecs on 11-26-2008 03:37 PM

[treski]

Ilecs keeps beating me to posts. 

OP, if you post specifics about your credit reports and concerns you have, you'll likely get a ton of help. 

For example, do you have collections, charge-offs, are they paid?, a BK, etc??

[Anonymous]

You do not want all of your cards reporting a zero balance. And you do not want all of your cards reporting small balances. You do want a couple or three of your cards reporting balances of < 3% and the rest reporting zero.

Some folks here say < 10%. You may have to experiment with that. My experience is < 3%.