Credit Score-Free Credit Score

. asked:


I did my research and I realized that i have a good credit report standing.

I only have 2 accounts that I am currently using.
Out of those two, for one I do have a balance but I always pay my bills on time except for two times when i was late because, the credit card company gave me the wrong due dates
They did remove the late fees however.
But 7 open in total.
5 unused
Two of them are sallie mae for school
and the other
1 for victorias secret- never used it. If I do use it I pay it once the bill comes
and the other two i dont plan on using.

Does that mean I have a bad credit score?

Darwin Kacerski

stuinblue asked:


I would prefer answers from people who work in the credit industry and can tell me roughly the number of points, and how long it will take for my score to recover once the new higher available credit kicks in…

I know part of your credit score is determined by how much available credit you have. I closed several cards a few years back before I knew it would hurt my score, and now I have very little credit available. I have excellent credit otherwise, and pay off anything I charge the next month. However, I do have a balance I’ve been slowly paying down, and want to open a new card so that my balance takes up less of a proportion to my total credit debt.

How much will this ding my credit in the short term? And how long will the point drop last?

Mel Flander