Archive for October, 2009
kt asked:
I’m 18 and have been working on building my credit since March (when I turned 18). I understand that building a long credit history helps raise your score, so I know I won’t automatically start with a score in the 700s or 800s.
I’m 18 and have been working on building my credit since March (when I turned 18). I understand that building a long credit history helps raise your score, so I know I won’t automatically start with a score in the 700s or 800s.
My current scores are TransUnion – 662 Experian – 662 and Equifax – 649.
I would like to purchase a car at some point in the next 6 months, so I would like to know, are these reasonable scores?
Thanks!
Ferdinand Ravens
ABIGAIL ROSE asked:
I have now got a good job after many years at University. Like most students, I had a overdraft and credit cards to get me through. I have never missed a payment. The thing is, how much time has to go by with my wage going into my bank to improve my credit score? Will I have to pay off smallest debt first then cancel them one by one for improvement?
Jama Mounger
I have now got a good job after many years at University. Like most students, I had a overdraft and credit cards to get me through. I have never missed a payment. The thing is, how much time has to go by with my wage going into my bank to improve my credit score? Will I have to pay off smallest debt first then cancel them one by one for improvement?
Jama Mounger
mommy23girlys asked:
We have 2 car payments, no credit cards, and a discharged bankruptcy (2yrs discharged). We recently found out my credit score went down 65 points for a $18 late payment charge on one of our car payments. This has caused us not to qualify for our mortgage. I wrote a “goodwill” letter to the creditor, but I don’t know if it will be accepted. How long would it be for my credit score to go back up?
Sol Gevara
We have 2 car payments, no credit cards, and a discharged bankruptcy (2yrs discharged). We recently found out my credit score went down 65 points for a $18 late payment charge on one of our car payments. This has caused us not to qualify for our mortgage. I wrote a “goodwill” letter to the creditor, but I don’t know if it will be accepted. How long would it be for my credit score to go back up?
Sol Gevara
luna6887 asked:
I have had my Tribute card since last June. There’s a $150 annual fee for that card. And the limit is $350.
I have had my Tribute card since last June. There’s a $150 annual fee for that card. And the limit is $350.
I have had my Capital One card for about 4 months. And the limit is $500.
My current average FICO score is 622. I don’t know what my credit scores are.
How will closing my Tribute card affect my score? I really don’t want to pay another $150 just to have this card.
Thanks!
Lane Magouirk



















