MY SCORE IS NOT CHANGING...

[Anonymous]

In the past three months..I have paid off two of my credit cards..all of my charge-offs have fell off and my fico score has remained basically the same..it has even dropped from last year when all of that stuff was on my credit! what could be the problem? I haven't attained any new inquires...any new credit..or nothing like that..it's depressing to know I may not get the best rate for an auto loan in Novemeber.

[Anonymous]

Well, my guess is that since the charge offs were old they were having little impact on your scores anyways. 

What are your scores?

How many CCs do you have?  How old are they? What are the CLs? 

[Anonymous]

What are your scores if you don't mind sharing them..

From what I'm understanding, the best way to "wash out" bad credit is to get a couple of new accounts to dilute the old baddies..even if they've fallen off.  You want to show that you have open TL's with low balances paid on time every month.  It's not enough to just pay off the old debt you have to prove that you are more financially responsible with new credit and have a good history of recent.

In the case of my credit it's recommended that I pay of my CO's and Collection Accounts over a period of 18 months ~ per the FICO Simulator.  That gave me the highest FICO.  It took me years to mess up my credit...I think I can be patient enough pay slowly and rebuild correctly.

[Anonymous]

THANKS FOR REPLYING!

I have four credit cards and I only one left with a fairly small balance that will paid off by September.

650..655..662...

Two have a credit limit of $1000..but that is not showing on the credit report..one has $800 and another has $600.

[Anonymous]

What is a "TL"? I'm new here....

[Anonymous]

As Tuscani pointed out in an earlier post, I'll have to look for it, when a card doesn't show the CL it messes up your util.  Take for instance the balance on the card is $100 well that's not bad, but if the limit on the card is $200, well $100 doesn't seem so good anymore. There's no way FICO can factor util on cards that don't report Util, so in essence those cards are doing nothing for you.

So really only 2 of those cards are helping you.

[Anonymous]

guide to common abbreviations thread on the top of the main page.

But quick answer:

TL = TradeLine

Message Edited by trinigal on 07-12-2007 01:17 PM

[Anonymous]

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BABYPHAT26 wrote:

What is a "TL"? I'm new here....

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Tradeline

[Anonymous]

I have a couple of Cap one cards that don't report limits either.  Is that hurting my util also?  can I call them to have them show my credit limits?

[Anonymous]

Well..is there away for me to call that card and ask them to report my credit limit?