What steps can i take based on this?

[Anonymous]

I'm currently at 705 TU Score. My Goal is 750 in FICO. I'm new to the forums and would appreciate any guidance provided. I filed BK7 back in 2003 and my last baddies are coming off this year. Except for the bk7 which will be there 3 more years.

I'm authorized user on 2 cards, does that help or hurt or nothing?

co signer on 2 cars and home, also co-signer on 1 home repair credit card that will be paid off in 12 months and one family credit card we carry a balance on from time to time. I also have 1 credit card with probably 80% utilization ratio with capital one(they always refuse to lower interest or raise credit line). 2 regular credit card paid off. and 1 store card.

I know my debt ratio will be greatly reduced in the next 12 months. how much of an improvement could that be? what else can i do? i've considered closing my last credit card i got for personal use a year ago...measly $1700 credit line and they won't raise it. good idea? or should i just get more credit by getting a new card?

[Anonymous]

I'm currently at 705 TU Score. My Goal is 750 in FICO. I'm new to the forums and would appreciate any guidance provided. I filed BK7 back in 2003 and my last baddies are coming off this year. Except for the bk7 which will be there 3 more years.

I'm authorized user on 2 cards, does that help or hurt or nothing?

co signer on 2 cars and home, also co-signer on 1 home repair credit card that will be paid off in 12 months and one family credit card we carry a balance on from time to time. I also have 1 credit card with probably 80% utilization ratio with capital one(they always refuse to lower interest or raise credit line). 2 regular credit card paid off. and 1 store card.

I know my debt ratio will be greatly reduced in the next 12 months. how much of an improvement could that be? what else can i do? i've considered closing my last credit card i got for personal use a year ago...measly $1700 credit line and they won't raise it. good idea? or should i just get more credit by getting a new card?

[MarineVietVet]

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@Anonymous wrote:

I'm currently at 705 TU Score. My Goal is 750 in FICO. I'm new to the forums and would appreciate any guidance provided. I filed BK7 back in 2003 and my last baddies are coming off this year. Except for the bk7 which will be there 3 more years.

I'm authorized user on 2 cards, does that help or hurt or nothing? It depends. Yes it can help you IF the account is older than any of yours, IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

co signer on 2 cars and home, also co-signer on 1 home repair credit card that will be paid off in 12 months and one family credit card we carry a balance on from time to time. I also have 1 credit card with probably 80% utilization ratio with capital one(they always refuse to lower interest or raise credit line). 2 regular credit card paid off. and 1 store card. The fastest way to improve your score is to get that utilization down to 1-9% as quick as possible. How much exactly that will help I can't begin to guess.

I know my debt ratio will be greatly reduced in the next 12 months. how much of an improvement could that be? what else can i do? i've considered closing my last credit card i got for personal use a year ago...measly $1700 credit line and they won't raise it. good idea? or should i just get more credit by getting a new card? $1,700 is more than many people have. Unless it has an annual fee bordering on highway robbery I would probably keep it and let it age. IMO you don't need to do anything drastic. Keep paying everything on time, get that utilization down, and just relax.

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From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

[MarineVietVet]

I'm currently at 705 TU Score. My Goal is 750 in FICO. I'm new to the forums and would appreciate any guidance provided. I filed BK7 back in 2003 and my last baddies are coming off this year. Except for the bk7 which will be there 3 more years.

I'm authorized user on 2 cards, does that help or hurt or nothing? It depends. Yes it can help you IF the account is older than any of yours, IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

co signer on 2 cars and home, also co-signer on 1 home repair credit card that will be paid off in 12 months and one family credit card we carry a balance on from time to time. I also have 1 credit card with probably 80% utilization ratio with capital one(they always refuse to lower interest or raise credit line). 2 regular credit card paid off. and 1 store card. The fastest way to improve your score is to get that utilization down to 1-9% as quick as possible. How much exactly that will help I can't begin to guess.

I know my debt ratio will be greatly reduced in the next 12 months. how much of an improvement could that be? what else can i do? i've considered closing my last credit card i got for personal use a year ago...measly $1700 credit line and they won't raise it. good idea? or should i just get more credit by getting a new card? $1,700 is more than many people have. Unless it has an annual fee bordering on highway robbery I would probably keep it and let it age. IMO you don't need to do anything drastic. Keep paying everything on time, get that utilization down, and just relax.

[Anonymous]

yeah, i know now i can do better. thought my high of 720 was good. now i want higher.

i thought they changed the rules and now you had to be a co-signer on a credit card to get the credit history benefit on your score?

$1700 is garbage based on my other lines. i am actually insulted by the way they act towards me, i can't use a card with such low line except for everyday purchases that i'll pay off when the bill comes. i know i'll be needing a big 0% 12 month card to finish off what i'm paying now that isn't done in the next 12 months. another reason to increase score.

thanks for the input.

[Anonymous]

capital one used to do me wrong too.  stopped increasing my line and lowering my apr...i apply for another cap one and gave me such a good deal i closed my old one.

pretty crappy to treat a customer that way.

another reason i want higher FICO score is so i can get better APR cards since the banks jacked up all my rates without me being late 1 time. only USAA treated me right.

[Anonymous]

Unless they're charging you an annual fee, I'd keep all of them open....well, if you really aren't fond of a particular card and it's newer than your AAoA, maybe I'd close that.  I think you might be taking this a little bit personally.  I want to close my Capital One card because it's my lowest limit and highest interest rate - but there's no annual fee and it's my oldest credit card account, so I won't.  I simply will continue to charge a small bill to it and pay it off within the grace period.

[MarineVietVet]

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@Anonymous wrote:

yeah, i know now i can do better. thought my high of 720 was good. now i want higher.

i thought they changed the rules and now you had to be a co-signer on a credit card to get the credit history benefit on your score? If the card issuer will report to the CRA's you do not need to be a joint owner. You get the good and the possible bad as an AU.

$1700 is garbage based on my other lines. i am actually insulted by the way they act towards me, i can't use a card with such low line except for everyday purchases that i'll pay off when the bill comes. So what's wrong with that? I just can't see closing a card because the CL may not be what I'd like.

i know i'll be needing a big 0% 12 month card to finish off what i'm paying now that isn't done in the next 12 months. another reason to increase score.

thanks for the input.

---

capital one used to do me wrong too.  stopped increasing my line and lowering my apr...i apply for another cap one and gave me such a good deal i closed my old one.

pretty crappy to treat a customer that way.

another reason i want higher FICO score is so i can get better APR cards since the banks jacked up all my rates without me being late 1 time. only USAA treated me right. Why does it matter  what the APR is? If you pay in full each month the rates don't mean anything. I've had all my rates jacked over the last few years but I don't pay any interest so it doesn't affect me. But only you can decide what is best for you.

[MarineVietVet]

capital one used to do me wrong too.  stopped increasing my line and lowering my apr...i apply for another cap one and gave me such a good deal i closed my old one.

pretty crappy to treat a customer that way.

another reason i want higher FICO score is so i can get better APR cards since the banks jacked up all my rates without me being late 1 time. only USAA treated me right. Why does it matter  what the APR is? If you pay in full each month the rates don't mean anything. I've had all my rates jacked over the last few years but I don't pay any interest so it doesn't affect me. But only you can decide what is best for you.

[Anonymous]

it's my newest card, it's a discover. i used it to pay a debt at a low apr. i've had it less than a year.

if you close the newest one, does it affect the AAoA in a positive way immediately?

if i trully use a card i won't close it, i close my old cap one just because of the annual fee and apr and credit line being something that after 4 years theyb would not work with me on...i started at 22% and $700 dollars and got down to 18% and 2500 and they flat out told me no, that's as far as that card would go.....then i got another card with them to test a theory and they gave me 8500 at 8.4% and no annual fee...WTF?!?!?.Then recently...without paying anyone late...they went from 8.4 to 19%...yes...19%....

But i fear that holding on to cards that are high APR will prevent me from getting lower APR ones...even if i have no plans to use the cards i have. i was considering getting new cards later this year with better terms after the credit card companies start competing again.

if i'm gonna hhave a credit card i want better quality of credit available. 15+% cards are just too highi feel when my score is 705. am i wrong here?

[Anonymous]

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@MarineVietVet wrote:

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@Anonymous wrote:

yeah, i know now i can do better. thought my high of 720 was good. now i want higher.

i thought they changed the rules and now you had to be a co-signer on a credit card to get the credit history benefit on your score? If the card issuer will report to the CRA's you do not need to be a joint owner. You get the good and the possible bad as an AU.

$1700 is garbage based on my other lines. i am actually insulted by the way they act towards me, i can't use a card with such low line except for everyday purchases that i'll pay off when the bill comes. So what's wrong with that? I just can't see closing a card because the CL may not be what I'd like.

i know i'll be needing a big 0% 12 month card to finish off what i'm paying now that isn't done in the next 12 months. another reason to increase score.

thanks for the input.

---

capital one used to do me wrong too.  stopped increasing my line and lowering my apr...i apply for another cap one and gave me such a good deal i closed my old one.

pretty crappy to treat a customer that way.

another reason i want higher FICO score is so i can get better APR cards since the banks jacked up all my rates without me being late 1 time. only USAA treated me right. Why does it matter  what the APR is? If you pay in full each month the rates don't mean anything. I've had all my rates jacked over the last few years but I don't pay any interest so it doesn't affect me. But only you can decide what is best for you.

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well, i guess i could keep discover open and apply for more credit hoping to get a better card.

I pay balances off every month but there are times when things come up and you can to carry the balance like when my AC broke and 2 weeks later the water heater broke...$8500 i didn't have sitting around the house when i'm paying $800 a month in daycare. my purpose for wanting better quality credit is to protect myself from crazy lending costs in the future.

[Anonymous]

capital one used to do me wrong too.  stopped increasing my line and lowering my apr...i apply for another cap one and gave me such a good deal i closed my old one.

pretty crappy to treat a customer that way.

another reason i want higher FICO score is so i can get better APR cards since the banks jacked up all my rates without me being late 1 time. only USAA treated me right. Why does it matter  what the APR is? If you pay in full each month the rates don't mean anything. I've had all my rates jacked over the last few years but I don't pay any interest so it doesn't affect me. But only you can decide what is best for you.

[Anonymous]

Your APRs aren't reported, so no worries there.  I'd probably still keep the card open - even closed, it will remain for 10 years after closure and help your AAoA.

[Anonymous]

i know APR's are not reported but when i do borrow i want to be reasonable rates and not 18%!

I'm over 700 last time i saw my FICO.  should i qualify for better?