Comments on: The FICO® Score Breakdown http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/ Latest Credit Card News, Reviews and Information Sat, 07 Nov 2009 23:38:59 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: kevin http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-110134 kevin Wed, 17 Jun 2009 13:21:28 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-110134 hi, i have a truck loan that is 48 pmts in...without incident ( always on time) however this month i wasnt able to make the pmt until the 30 th day...past due . iknow when things are more than 30 days past due, they are reported. seeing i made it, and it was posted that day as pd, do they still report as late even though it was paid on the 30th day past due and not after??? if it does go on my credit score,.....what kind of drop is it gonna feel score/ point wise??? will i be able to recover from this, seeing im never late on any bills? thanx hi,

i have a truck loan that is 48 pmts in…without incident ( always on time) however this month i wasnt able to make the pmt until the 30 th day…past due . iknow when things are more than 30 days past due, they are reported. seeing i made it, and it was posted that day as pd, do they still report as late even though it was paid on the 30th day past due and not after??? if it does go on my credit score,…..what kind of drop is it gonna feel score/ point wise??? will i be able to recover from this, seeing im never late on any bills?

thanx

]]> By: Business Cards and Credit Ratings | Ask Mr Credit Card's Blog http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-104929 Business Cards and Credit Ratings | Ask Mr Credit Card's Blog Mon, 20 Apr 2009 15:40:34 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-104929 [...] The FICO® Score Breakdown [...] [...] The FICO® Score Breakdown [...]

]]> By: connie http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-104782 connie Sun, 19 Apr 2009 01:26:40 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-104782 I am a AMEX Green Card holder for the past 14 years and have never failed to pay the balance each month. About 16 months ago, I also became an AMEX Blue card holder with a $10,000.00 limit. I did not use this card until this past December and have a balance of about $1000.00. While I have not paid the balance off each month, the few payments I have had to make have been on time and more than the minimum. I do plan to pay if off over the next couple of months. However, I just received a letter from AMEX advising me that my $10,000.00 limit has been reduced to $1400.00. My question is this--Since lowering the limit makes it appear that I have almost maxed the card out--how does this affect my credit score (my most recent score was 738),wouldn't this have a negative affect on my credit? I am a AMEX Green Card holder for the past 14 years and have never failed to pay the balance each month. About 16 months ago, I also became an AMEX Blue card holder with a $10,000.00 limit. I did not use this card until this past December and have a balance of about $1000.00. While I have not paid the balance off each month, the few payments I have had to make have been on time and more than the minimum. I do plan to pay if off over the next couple of months. However, I just received a letter from AMEX advising me that my $10,000.00 limit has been reduced to $1400.00. My question is this–Since lowering the limit makes it appear that I have almost maxed the card out–how does this affect my credit score (my most recent score was 738),wouldn’t this have a negative affect on my credit?

]]> By: American Express and Your Credit Score | Ask Mr Credit Card's Blog http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-102926 American Express and Your Credit Score | Ask Mr Credit Card's Blog Fri, 03 Apr 2009 07:49:11 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-102926 [...] The FICO® Score Breakdown [...] [...] The FICO® Score Breakdown [...]

]]> By: April http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-100895 April Wed, 11 Mar 2009 19:06:46 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-100895 I used to have good credit but when I purchased my home my score went down some, though I was on time...recently I was having a hard time paying my home loan because my husband's business was not doing well to be able to pay the mortgage (he pays though I am the only person on the loan) so we fell behind however we recently qualified for a loan modification (which the only way we could get them to help us is to be deliquent on the mortgage) but now my credit score is in the mid 500's...all of my other credit cards are on time though they all raised the interest rate on me so my only option to go back to my original low rate is to opt out (forced to close cards) so in about a year we will be debt free with all close credit cards...however I want to start working on my credit score...will my lender reverse the deliquents on my credit now that it is added to the new loan...also will getting a secured loan/credit card now though I have good credit card history help bring up my score? I used to have good credit but when I purchased my home my score went down some, though I was on time…recently I was having a hard time paying my home loan because my husband’s business was not doing well to be able to pay the mortgage (he pays though I am the only person on the loan) so we fell behind however we recently qualified for a loan modification (which the only way we could get them to help us is to be deliquent on the mortgage) but now my credit score is in the mid 500’s…all of my other credit cards are on time though they all raised the interest rate on me so my only option to go back to my original low rate is to opt out (forced to close cards) so in about a year we will be debt free with all close credit cards…however I want to start working on my credit score…will my lender reverse the deliquents on my credit now that it is added to the new loan…also will getting a secured loan/credit card now though I have good credit card history help bring up my score?

]]> By: Mark http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-94793 Mark Mon, 12 Jan 2009 20:30:17 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-94793 I have been rebuilding my credit and recently have been approved for cards with limits much higher than the high annual rate HSBC cards that I qualified for 2 years ago. Now these cards are dragging down my score, but since they are my oldest continual tradeline shown on the big 3, I do not want to close them. Is there a good card with that someone can qualify for a $5-10k line with a FICO of 708? I have been rebuilding my credit and recently have been approved for cards with limits much higher than the high annual rate HSBC cards that I qualified for 2 years ago. Now these cards are dragging down my score, but since they are my oldest continual tradeline shown on the big 3, I do not want to close them. Is there a good card with that someone can qualify for a $5-10k line with a FICO of 708?

]]> By: Cheryl Spencer http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-91252 Cheryl Spencer Sun, 30 Nov 2008 19:31:01 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-91252 what interest rate can I expect to be charged with a FICO score of 717-720? what interest rate can I expect to be charged with a FICO score of 717-720?

]]> By: mike gusler http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-88727 mike gusler Thu, 06 Nov 2008 18:25:20 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-88727 how does the credit cards credit to balance ratios effect FICO scores how does the credit cards credit to balance ratios effect FICO scores

]]> By: Jenny http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-87173 Jenny Fri, 24 Oct 2008 14:41:27 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-87173 I have a 780 credit score, a couple years ago, when the market was good, we purchased some properties, we've had great difficulties renting them and keeping them rented , one has been empty for a full year and i cannot afford it anymore so we handed it to a company to try to get it to short-sale if that doesn't work give it back to the bank, meanwhile i wont be paying for it. i have another 5 mortgages all up to date a car lease and various cards, will not paying on this property affect my credit so bad that it will bring down my score under 675??? I have a 780 credit score, a couple years ago, when the market was good, we purchased some properties, we’ve had great difficulties renting them and keeping them rented , one has been empty for a full year and i cannot afford it anymore so we handed it to a company to try to get it to short-sale if that doesn’t work give it back to the bank, meanwhile i wont be paying for it. i have another 5 mortgages all up to date a car lease and various cards, will not paying on this property affect my credit so bad that it will bring down my score under 675???

]]> By: The Secrets of Successful Credit Management http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/comment-page-1/#comment-86613 The Secrets of Successful Credit Management Tue, 21 Oct 2008 14:15:47 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-86613 [...] 2. Keep Your Balances Low – The amount of credit you have available to borrow vs. the amount of credit you have already borrowed is known as your debt-to-credit ratio. Your debt-to-credit ratio makes up 30% of your FICO score. [...] [...] 2. Keep Your Balances Low – The amount of credit you have available to borrow vs. the amount of credit you have already borrowed is known as your debt-to-credit ratio. Your debt-to-credit ratio makes up 30% of your FICO score. [...]

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