Im a newbie needing some advice.

[Anonymous]

Hi all , am just signed up for Myfico and I am so glad I did.  My sister in law recomended this site and she swears by it.  I am in need of some serious help and/or advice.  I hope anyone can help.  Heres the thing.  I just checked my report and realized I have 7 open accounts, most of them CC's.  My score dropped from 720 to 683, I believe this is because of all the open, zeroed accounts.  What should I do. I want to raise my score back up into the 700's, and I aslo pay on time everything, every month.  Any advice??

[Anonymous]

BUMP!  Anyone PLEASE HELP.

[Anonymous]

Do you have any baddies??....if not...all you can do is keep doing what you are now...

[Anonymous]

It would NOT be because of open accounts. I have 19 open accounts & my scores are all over 700.

Your scores are made up of length of history, CC  UTIL and payments  this counts more toward your scores then any other type of loan!

Look at your CRs  for any late payments, public records or CO.(1 30 day late within the last 2 years will hurt!)

What can hurt your scores

90+ day lates

collections

charge-offs

repos

foreclosures

public records (tax liens, judgments, BK past due child support)

maxed-out or over-the-limit revolving account

Message Edited by HappyDays on 05-19-2008 01:44 PM