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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
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Replying to: mlischmann (Sep 21, 2007 10:07 am) As volvomax said, your credit isn't terrible. It's OK. Some bank would take a chance on being the one to help build up your credit history. Worst case scenario is a cosigner. My mom did that for my first car. Didn't really appreciate what a nice thing that was for years. Meanwhile, get a credit card, buy a few things that you were going to buy anyway on it each month and pay it off in full every month on time. Anything that shows that you can handle credit and not go nuts will build a good history. If you are the type who thinks plastic money isn't real money ignore the above paragraph. |
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Replying to: master_ryu (Sep 18, 2007 5:24 am) |
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My credit score is 790. As part of the report they tell you "the key factors that affected your credit score are" One thing mentioned was: "The amount owed on your charge accounts is too high" I have one credit card with a limit of about 17K. My balance last month was $620 which I paid in full. How could that amount be "too high"? 
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Replying to: oldfarmer50 (Dec 17, 2007 4:27 pm) don't know as you NEED a higher score, but if it bothers you, you have to call up and get that straightened out. (good luck, it can be frustrating). I have a perfect clean record and my score isn't all that much higher than yours---I showed that number to a dealer last year and he said: "Shoot, I can sell you the whole damn showroom with that score". |
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Replying to: oldfarmer50 (Dec 17, 2007 4:27 pm) My history is perfect. Not 1 black mark. I don't have much in credit cards. Our household income is pretty high, I think. My score is around 760. My sister, OTOH, went through a bad spot not too long ago. Defaulted on credit cards, sent to collections, etc, etc. She cleaned it up and has been doing well for a few years now. She has worked her score up to over 740. Now, I'm not saying I want hers to be lower, but just how the heck does she get so close to mine is beyond me. And that is not even as bad as her husband. He went through a BK in '00 before they got married. Granted, that was 7 years ago, but, again, how the heck does he now have a 740 and my 16 years of a perfect record only warrant 20 more points? |
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Replying to: oldfarmer50 (Dec 17, 2007 4:27 pm) |
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Replying to: qbrozen (Dec 18, 2007 6:43 am)
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Replying to: qbrozen (Dec 18, 2007 6:43 am) Most of them look at info in the 7-10 yr range. Obviously, current accounts weigh more than an account closed 5 or 6 yrs ago. That is why it is critical to re-establish your credit after a BK or other mishap. |
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Replying to: joel0622 (Dec 18, 2007 8:23 am) I mean, some people say "oh, you should have x cards with x debt," but I've tried that and it doesn't seem to do a damned thing. It just seems to me that anything above 720 is purely random. What I've always wondered is if there is an age thing tied to it. But nothing I've ever read states that as a factor. |
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