Originally Posted by V_RocKs

Hehehe.. In November my Fico score was about 540. I had debts I never paid off since I got divorced back in 1993. I looked over my old debts and decided to pay off the non revolving debts. Things like an out standing gas bill (old renting partner had it reinstated in my name and then left me the bill. It was only $210 so I just paid it off to be done with it), an outstanding hospital bill of $620, etc. etc... Basically leaving the CC's and paying EVERYTHING else.

Fico score went up to 715 in January. Then I went back and checked my credit report and found that the hospital didn't remove my shit so I talked to them and they did. In Feb it was 728. Then in March I paid in full the debts on 3 cards. My score went DOWN to 645. I was like, WHAT THE FUCK! Aksed a guy who does lones for a living and lives and breathes this shit (for determining interest rates and risk of loans) and he basically said that when you repay back a fucked up situation that has been formant for so long (last report was a chargeoff in 1996) you basically make it a newly talked about bad debt. After 2 years I will be back above 700 if I Don't payoff the other 2 cards....!

Originally Posted by BlueWire

still strong at 807 :thumbsup

Originally Posted by Cassie

credit scores only go up to 800. how did you get an 807?

Originally Posted by nap

I know that i'm late but I didn't get a chance to respond last week.

I'm @ a 615 now and judging from this thread my score is very low.

How can I increase my score?
I have rent.
A school loan that has 1300 left on it.
Two credit cards, one of which I just paid off.
Insurance and a car payment.
Normal bills like cable modem, electricity, water, etc.
That is it as far as bills.

Should I request another credit card with a larger limit or should I just wait and let it build over time (im 23)?

Any suggestions are appreciated.

Originally Posted by shermsshack

http://myexgf.com/cs.jpg
And that's with a house and a new car in the last year. :pimp

Originally Posted by $5 submissions

Awesome score. :thumbsup

Originally Posted by Amputate Your Head

for those that don't really understand the system and how it works.... basically what I said above there.... 750+ and you're sitting pretty. Anything over 800 and people will grovel at your feet.

An example based on my score of 751:
I walked into the Dodge dealer last Saturday at 11:00 am.... not a nickel in my pocket, unshaven, kinda smelly, tank top, board shorts, and flip flops.... pointed to a brand new Ram 1500 4x4 quad cab on the showroom floor and said shine it up fellas, I want it. They took it out back, washed it, shined it, and 1.5 hours later after driving around in someting else to kill time and signing all their shit, I drove it home. Nothing down, no bargaining, no arguments. And they took $9k off the price. (they offered this... I didn't ask for it.) (repeat new vehicle customer I guess)
They let me drive away with a brand new truck (after running credit of course) with nothing more than my drivers license, my phone number, and a signature.


Now, for all of you people that have this idea in your head that "fuck credit, my bank check card is all I need".... good luck ever doing anything like that.


Oh, and just to wrap it all up in a nice neat package.... yes, the papers I signed were for financing in full. Why? Because now I have a new loan. A good sized one. And sometime within the next 3 or 4 weeks, I will pay that off in full.... driving that FICO score through the roof. :)

see how it works?
(that's only one thing.... but the concept is there. You should be doing things like this across a number of things. Pay some off fast, pay some off slow... as well as maintaining steady revolving credit... like, put your tivo bill or something on a cc... pay the bill every month. It establishes that you can pay your bills on time, every time, consistently.

is your FICO score important? Better believe it is. Make late payments on shit or god forbid, default on something, and you're fucking yourself. Nobody else.

When it comes to property... your score dictates how good of a deal you get or how fucked you are. I see alot of younger guys on here every so often saying how, they don't need credit, I'll just pay for everything with cash, or if I don't have cash then I don't need it.... etc... etc...

you guys gotta open your eyes. Stop seeing "credit" as "in debt for life".... and start seeing credit = power, leverage, & options. Because that's what it is. :2 cents:

Originally Posted by shermsshack

Thanks! I was honestly surprised. When I applied for my home loan a year ago, i was at 720. I looked a few days back and saw 819 and I almost shit myself. I think it's due to the increased car payment and the AMEX balance being paid off monthly.

Originally Posted by jonesy

sherm

you gotta get your other scores from equfax and experian and throw them in the mix

the middle score is usually what creditors go by

nice score by the way :thumbsup

Originally Posted by BCyber

Well I definately have something I need some advice on.

Several years ago I signed for a ford explorer suv with my now ex girlfriend. I had better credit or something so she just co-signed. We later broke up on no so good terms, she took the truck, never paid insurance, got drunk, drove it through some store, the store was brick and the truck was totalled. She went to jail for quite some time because she injured her friend(her friend was above 21 though which is weird and my ex wasnt). Anyways, now I have a $12,000+ collection on my report so I don't know what to do. And, the bad thing is that the truck wasn't worth anywhere near that, more like $6,000 but I was younger and had no credit and got stuck with some crazy 100% interest or whatever it was.

:helpme

Originally Posted by AmeliaG

That sounds pretty awful. You might try contacting whoever held the loan and just explaining the situation to them and seeing if you can pay them like $6k or something to settle the account.