i signed up for myfico.com...in order to protect against identify theft...and it warns me when my credit score changes....well it went down another 8 points!!! it has, over the past year, went down over 100 points, which is going to suck bc we want a house next year!
my question is: is it true that it is harder to get your credit score up once it fell? what can i do to make it higher?
the rating bureaus check your stuff all around the same time so this is the deal credit cards are a *****
you think that if you just pay them off its good..not true..you dont want to use more than 30%of your credit at a time..that lowers your score...so to make it easy...if you have a card with $1000 limit...DO NOT let the balance pass $300...if it is at that number at the time your score is being checked.....this is a negative punch against you....
i am on freecreditreport.com ALL the time and have raised my score significantly this past year...it works!
****edited...wrote #'s wrong
FutureMrsM
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Re: NWR:what the h-e-two sticks???
Have you opened up new accounts, been late on anything recently? Why did it go down? If you pay on time, pay down the balances on your credit cards, don't have a lot of inquiries and things like that then it shouldn't be that hard to raise it. Over the past 8 months I have raised my score by about 75 points simply by paying off credit card balances. Good luck!!!
fyi....my score changes around the 21st of every month so i know that if i did run up my cards past 30%...i pay it off before the 20th!
KerriJohnS
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Member since
Re: NWR:what the h-e-two sticks???
It always helps to have an empty credit card. because a lot of your credit score has to do with the credit to debt ratio.... so if your debt is a lot lower than your credit levels then it can bring your scores up.
It always helps to have an empty credit card. because a lot of your credit score has to do with the credit to debt ratio.... so if your debt is a lot lower than your credit levels then it can bring your scores up.
right...if you keep them below 30% you are good to go
Dani777
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Re: NWR:what the h-e-two sticks???
Funny that this should come up today... This morning I was curious about my score so I signed up... and it was 10 points lower then it was last time I checked about 6 months ago... when everything is good. But, after reading this...made me realize, I have like 2 store credit cards that are I think 500 each...and I think I have about 300 on each...thanks to Chritmas. Maybe I should pay them off by the 20th....?? Lol
Thanks for this!
MrsList09
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Re: NWR:what the h-e-two sticks???
Thanks for the info! We're doig the mortgage process and we charge up our cards every month paying our regular household expenses so we get the cash back points and then we jsut pay it off entirely at the end of the month. I didn't even realize this might affect us negatively. I'll have to make sure we pay those ASAP before we put the mortgage app in!
MrsList09
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Re: NWR:what the h-e-two sticks???
Posted by JJC
Posted by KerriJohnS
It always helps to have an empty credit card. because a lot of your credit score has to do with the credit to debt ratio.... so if your debt is a lot lower than your credit levels then it can bring your scores up.
right...if you keep them below 30% you are good to go
Is it 30% of your total available credit or 30% of individual cards? Like let's say I have 2 cards that are $500 each out of $1000 available (so 50% to limit on each card) but I have $5000 available ($1000 total debt but only 20% of the $5000), will that make my score fall? Just curious.
