credit rating question

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  • p1mpdogg
    Too lazy to set a custom title
    • Nov 2002
    • 16714
    #1

    credit rating question

    before i bought my house, my credit score(fico) was higher than after i bought the house, its now about 30 points lower.. I can understand why.. but my question is... If I close some open/revolving accounts, will my score back up?
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    • p1mpdogg
      Too lazy to set a custom title
      • Nov 2002
      • 16714
      #2
      bump
      A fast fortune is easy to earn! Just go with a winner!

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        • Veterans Day
          Confirmed User
          • Jul 2003
          • 8403
          #3
          depending on if those revolving credit lines are maxed out? How timely have the payment been in the last 24 months? Alot of factors involved but creditors like to see revolving credit for substantial amount of time being paid as defined. Lot of factors nothing is cut and dry in credit reports. Need to know alot more info also as to whats on your credit and what your overall debt ratio is. And so on
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            • p1mpdogg
              Too lazy to set a custom title
              • Nov 2002
              • 16714
              #4
              Originally posted by Veterans Day
              depending on if those revolving credit lines are maxed out? How timely have the payment been in the last 24 months? Alot of factors involved but creditors like to see revolving credit for substantial amount of time being paid as defined. Lot of factors nothing is cut and dry in credit reports. Need to know alot more info also as to whats on your credit and what your overall debt ratio is. And so on
              not maxed out, about 3/4 maxed.. and yes, last 24 months never late
              A fast fortune is easy to earn! Just go with a winner!

                Comment

                • JulianSosa
                  Confirmed User
                  • Aug 2003
                  • 3042
                  #5
                  YOu need to have your revolving accounts under 1-2 used to help your credit. Anything over 1/2 will hurt it
                  Also alot of credit enquiries will drag you down too.

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