I don't plan on getting a mortgage or any big loan in the near future, so pulling scores would be a waste of money, but anyway, given these factors, what do you think my current score would be (Plus I JUST paid off the student loans, which were like 99% balance before, and JUST requested a CLI on one of my cards which probably didn't report back yet, so any score I pull right now will not reflect these changes)?
Age: 22
7 tradelines (utils are the range that I might use the card for in any given month, always PIF 2 days b4 due date):
$1000 AU credit card, 0% util. Primary cardholder has scores > 800, ~ 5 years old, haven't used it for 3 years or so.
$10000 BofA credit card, 0% - 10% util (in the future). ~ 2 years old, going to request 20K credit in a couple months.
$2000 Amex credit card, 20% - 75% util (in the future). brand new, trying to get the limit upped to 15K so I can spend up to 1500 / mo w/o it breaking the 10% util barrier
$5500 student loan, 0% balance. 1 year old
$5500 student loan, 0% balance. 2 years old
$3500 student loan, 0% balance. 3 years old
$1200 student loan, 0% balance, 4 years old
I'm contemplating getting another 3 credit cards (All w/ 10 - 20K limits) to help my score out, and that's it (I probably want 1 more visa, 1 master card, and 1 discover card), and closing the AU account after I get those (it stays on my record for 10 years so it shouldn't have any material impact). I dunno what the "optimal" # of card accounts is, but 5 sounds pretty good (and is probably the most I want in my wallet!
)
Does my age factor into what lenders look at?
Message Edited by fail2deliver on 12-23-2007 09:42 PM
Age: 22
7 tradelines (utils are the range that I might use the card for in any given month, always PIF 2 days b4 due date):
$1000 AU credit card, 0% util. Primary cardholder has scores > 800, ~ 5 years old, haven't used it for 3 years or so.
$10000 BofA credit card, 0% - 10% util (in the future). ~ 2 years old, going to request 20K credit in a couple months.
$2000 Amex credit card, 20% - 75% util (in the future). brand new, trying to get the limit upped to 15K so I can spend up to 1500 / mo w/o it breaking the 10% util barrier
$5500 student loan, 0% balance. 1 year old
$5500 student loan, 0% balance. 2 years old
$3500 student loan, 0% balance. 3 years old
$1200 student loan, 0% balance, 4 years old
I'm contemplating getting another 3 credit cards (All w/ 10 - 20K limits) to help my score out, and that's it (I probably want 1 more visa, 1 master card, and 1 discover card), and closing the AU account after I get those (it stays on my record for 10 years so it shouldn't have any material impact). I dunno what the "optimal" # of card accounts is, but 5 sounds pretty good (and is probably the most I want in my wallet!
)Does my age factor into what lenders look at?
Message Edited by fail2deliver on 12-23-2007 09:42 PM
I am absolutely abysmal at guessing scores, but while you wait for more useful responses, have you tried the FICO score estimator? The ranges are pretty broad, but it's interesting to use, especially for people who have baddies they're trying to remove. (Not your case, I realize.)
http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx
When it asks you how many times you've app'd (= inqs), enter the number that are on just one report, which is how it works when your real scores are figured. Also, if your reports are different from one another, you can run the estimator several times to show the different profiles that you have.
Here is the profile of those near-mythical FICO High Achievers:
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12673
Your target number of cards is right on the mark for this. (Sorry if I've already stuck this on one of your posts --I'm kinda dain bread at the moment!
)
Age is not a factor in your scores, other than you have to have been alive long enough to hit certain credit length tiers, but lenders do look at more than scores. Don't know if they would care so much about age as they would income, payment history, and so forth.
One last thing --I'm not sure about AU accounts staying on your reports after you are removed from them. Since you generally have to dispute as "not mine" to get out of them, I don't know that they would stick around. That's one thing you could do with the estimator: enter your cards, history, etc., as if you didn't have the AU card. HTH
http://www.myfico.com/FICOCreditScoreEstimator/Estimator.aspx
When it asks you how many times you've app'd (= inqs), enter the number that are on just one report, which is how it works when your real scores are figured. Also, if your reports are different from one another, you can run the estimator several times to show the different profiles that you have.
Here is the profile of those near-mythical FICO High Achievers:
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12673
Your target number of cards is right on the mark for this. (Sorry if I've already stuck this on one of your posts --I'm kinda dain bread at the moment!
)Age is not a factor in your scores, other than you have to have been alive long enough to hit certain credit length tiers, but lenders do look at more than scores. Don't know if they would care so much about age as they would income, payment history, and so forth.
One last thing --I'm not sure about AU accounts staying on your reports after you are removed from them. Since you generally have to dispute as "not mine" to get out of them, I don't know that they would stick around. That's one thing you could do with the estimator: enter your cards, history, etc., as if you didn't have the AU card. HTH