I Just checked my credit score

[lasimmon]

Question: I believe mine is 680. How can I go about getting it higher? No car payments as I bought it cash, no line of credit because I don't need it, only 1 credit card...

I am renting and looking to buy a condo soon and worried about my score...

[BensonTT]

^^ maybe cause you have no credit! No credit = bad credit.. That's what I have been told..

[killramos]

Mine was about 894 when I ran it to secure my mortgage, my broker said he had never seen a score that high lol. The whole thing is a scam tbh and that number means just about nothing...

[spike98]

Originally posted by lasimmon
Question: I believe mine is 680. How can I go about getting it higher? No car payments as I bought it cash, no line of credit because I don't need it, only 1 credit card...

I am renting and looking to buy a condo soon and worried about my score...

You'll be ok with a 680 if you have no credit debt. I picked up another house with a 680 and got a very competitive rate.

[supe]

Just checked, apparently its good to do this from time to time.

802 not too shabby.

[msommers]

You also get dinged a bit if you've had a bunch of enquiries closely spaced. I had this happen last year when I was getting all my utilities in place. I was also surprised how many old credit cards I didn't even use were on my history. Got those all closed and mine has improved a lot.

[woodywoodford]

How do CC's play in? I have 4 - 2 Visa, and 2 vendor cards, but none of them carry a balance. Is that hurting me or helping?

[Xtrema]

Originally posted by supe
Just checked, apparently its good to do this from time to time.

The key is that you want to make sure you can account for all the loans/credit on your record. Make sure your identity isn't stolen.

[nickyh]

Last I checked mine 3 years ago, I was 820

I use credit that's offered to me but I usually pay my entire CC balance each month and either pay cash for cars or have my balance paid for within a year. Banks don't like me as they don't make much off me - except for my mortgage.

[CompletelyNumb]

Originally posted by BensonTT
^^ maybe cause you have no credit! No credit = bad credit.. That's what I have been told..

It can be.


I'm in a similar boat. Mine is 640. No debt, all accounts in good standing, high income. (No mortgage) I just don't need credit, therefore haven't accumulated a large score. I was told to raise the limits on my credit cards to see an increase in score. Go figure.

[rage2]

Originally posted by woodywoodford
How do CC's play in? I have 4 - 2 Visa, and 2 vendor cards, but none of them carry a balance. Is that hurting me or helping?

I dunno if it's hurting you or not, but it helps if you use at least one of them and not carry a balance. They track how much revolving credit you use/pay off monthly.

[supe]

Originally posted by woodywoodford
How do CC's play in? I have 4 - 2 Visa, and 2 vendor cards, but none of them carry a balance. Is that hurting me or helping?

As long as you're paying your balance on time it shouldn't matter too much. Cancel any that you don't need or lower their credit limits, but its a good idea to leave your oldest CC open for longevity reasons.

[heavyfuel]

Originally posted by A790

I had a monitoring service and my identity still got stolen

How would that automatically make the monitoring service a scam? To me that sounds like blaming a car manufacturer for getting in a car accident.

[XylathaneGTR]

Originally posted by lasimmon
Question: I believe mine is 680. How can I go about getting it higher? No car payments as I bought it cash, no line of credit because I don't need it, only 1 credit card...

I am renting and looking to buy a condo soon and worried about my score...

My method is as follows:

Have only 1 credit card (check), and put EVERYTHING on it. Pay off the FULL balance every month and on time.
This was all I did for a few years and my score was in the 800s when it was run for my mortgage application.

[A790]

Originally posted by heavyfuel


How would that automatically make the monitoring service a scam? To me that sounds like blaming a car manufacturer for getting in a car accident.

Because I didn't get notified by the service that my information had been stolen. I got notified by my bank when I tried to take out a car loan.

[lasimmon]

Originally posted by XylathaneGTR

My method is as follows:

Have only 1 credit card (check), and put EVERYTHING on it. Pay off the FULL balance every month and on time.
This was all I did for a few years and my score was in the 800s when it was run for my mortgage application.

Good to know. I started doing that about a year ago and checked my credit about 10 months ago so perhaps it is higher now.

[89s1]

Originally posted by heavyfuel


How would that automatically make the monitoring service a scam? To me that sounds like blaming a car manufacturer for getting in a car accident.

Not really, it's more like paying some guy to monitor your car and call you if someone tries to steal it. Instead you come out of the mall to find your car's been stolen and that guy is sleeping in a lawn chair with the cash you paid him to watch your car still balled up in his fist...

[rage2]

Just checked mine, and it's terrible!

Credit score of 700. No mortgages on file, so I know that's going to be a hit right off the bat. The other ones are interesting.

Below are the aspects of your credit profile and history that are important to your Equifax credit score. They are listed in order of impact to your score - the first has the largest impact, and the last has the least.

- Number of telco inquiries in the last 12 months.
- Total monthly payments.
- Number of open bank revolving trades.

Wonder who's been checking my credit in the last 12 months, doesn't really say. Total monthly payments is high thanks to my low interest car loans (even though they come out of savings that covers the loans), but somehow my last 4 cars are on file and shown as active. Both Toyota and MB fucked up and shows a balance even tho it's up to date. Weird. And I guess # of credit cards is bad too even tho you pay it off. Also weird, my corporate cell phone is on there too. So I guess if our finance department slacks it could affect my credit?

Interesting stuff haha.

[rage2]

Found the details page (had to print to get the details) and yea, this credit score stuff is pointless. The report says the # of hard and soft hits is the primary reason for low score.

The Bell account isn't my corp phone, it's my pay as you go iPad data plan, and there must be a bug in the Bell system because it's been doing a hard credit inqury every time it renews monthly on my credit card. How or why it's tied to my credit file, I have no clue.

My bank where I have my savings and checking accounts also did a hard and a soft inqury, again why? I dunno, I have no credit cards or mortgages through them.

Futureshop did 2 soft inquries in the last year, again why? No clue. No credit cards or payment plan stuff with them, nor have I applied for any.

Feels like I have no control over these hits, and apparently it's the top reason why my score is low.

[ZMan2k2]

Just checked, 827 excellent! Keep one card, and pay it off. Paid off the truck loan, have no debt. I'm a happy camper.