topic Re: CREDIT SCORE in Community Chat

CREDIT SCORE

heart of savino — Mon, 09 Jan 2017 23:23:22 GMT

how often do you check your credit score.never knew how important it was when

my friend wanted to rent an apartment and her score was 720 and turned her down.seems like anyting you want to buy or finance a car, house etc they want that credit score first.

you better pay those credit cards on time and keep them low.you never know when you have to buy something in a heart beat.

Re: CREDIT SCORE

MyGirlsMom — Mon, 09 Jan 2017 23:26:29 GMT

Credit scores are not just determined by credit card debt alone. The ratio of income to debt, employment history, where you live and apartment dweller versus home owner.

Re: CREDIT SCORE

SilleeMee — Mon, 09 Jan 2017 23:29:38 GMT

I check mine at least every month. Sometimes more, depending on how much I've been shopping.

Re: CREDIT SCORE

glb613 — Mon, 09 Jan 2017 23:33:41 GMT

@heart of savino wrote:
how often do you check your credit score.never knew how important it was when
my friend wanted to rent an apartment and her score was 720 and turned her down.seems like anyting you want to buy or finance a car, house etc they want that credit score first.
you better pay those credit cards on time and keep them low.you never know when you have to buy something in a heart beat.

I can't believe a score of 720 isn't good enough.

Re: CREDIT SCORE

Tribesters — Mon, 09 Jan 2017 23:35:27 GMT

Mine is on my Discover card statement every month. It's currently 811. Last time I checked it said something like "although your score is excellent it could be improved by taking out a loan with regular recurring payments." So my credit score would improve if I borrowed money? Does that make any sense?

Re: CREDIT SCORE

rustee — Tue, 10 Jan 2017 08:20:50 GMT

My score is included in one of my bank card statements every month. It also includes a chart which shows what the scores have been over a 12-month period.

Re: CREDIT SCORE

Kachina624 — Mon, 09 Jan 2017 23:36:29 GMT

@glb613 That's what I was thinking... 720 seems like a decent above-average score.

Re: CREDIT SCORE

suzyQ3 — Mon, 09 Jan 2017 23:41:29 GMT

@heart of savino, does your friend know for a fact that she was turned down based on her credit score? There are many other legal reasons to reject an applicant.

Re: CREDIT SCORE

sunshine45 — Mon, 09 Jan 2017 23:41:44 GMT

@glb613 wrote:
@heart of savino wrote:
how often do you check your credit score.never knew how important it was when
my friend wanted to rent an apartment and her score was 720 and turned her down.seems like anyting you want to buy or finance a car, house etc they want that credit score first.
you better pay those credit cards on time and keep them low.you never know when you have to buy something in a heart beat.
I can't believe a score of 720 isn't good enough.

@glb613

@heart of savino

a score of 720 may not be good enough if your actual income isnt high enough. my 21 year old has a credit score of about 740......she works part time and goes to school full time. if she went to go and get an apartment by herself i am sure they would want her to have a co-signer or a roommate because of her income level.

i check my credit scores monthly and whenever i get an alert from credit karma.

Re: CREDIT SCORE

SilleeMee — Mon, 09 Jan 2017 23:41:52 GMT

@Tribesters wrote:
Mine is on my Discover card statement every month. It's currently 811. Last time I checked it said something like "although your score is excellent it could be improved by taking out a loan with regular recurring payments." So my credit score would improve if I borrowed money? Does that make any sense?

@Tribesters,

Yes, it's true. You can boost your score by taking a new loan and also by using ALL of your credit cards and not just a few.

Re: CREDIT SCORE

VaBelle35 — Mon, 09 Jan 2017 23:48:24 GMT

My credit union gives me my FICO score in their app. I get various other credit scores from different places that I do business, the sources of which and the validity of which are unclear to me.

Most organizations use the FICO score, so that's the one I pay attention to .

Re: CREDIT SCORE

fuzzball76 — Tue, 10 Jan 2017 00:15:18 GMT

Remember, there are 3 diff places that run credit. Equifax, Transunion, and another one. While u may have a high one on one, maybe the landlord ran it on another. Ihad an 800 on one and 650 on a diff one. I have rent,car payment,a good job. I have student loans too. U make payments,but that adds to debt ratio. All are paid on time. I just love it when a potential employer runs a credit report. You need the job to make money. You need money to pay bills. So u get screwed either way. I would look into WHY u were denied being in property management myself. Sounds fishy. Good Luck!

Re: CREDIT SCORE

brewhaha — Tue, 10 Jan 2017 00:20:18 GMT

Right now my creditors lead 6-0.

Re: CREDIT SCORE

Havarti — Tue, 10 Jan 2017 01:01:16 GMT

I had to laugh. We recently decided to refi the mortgage. We got a copy back from the credit check they ran for the refi. We have 850 out of 850 for a FICO score, but Equifax rated us slightly lower. In one area it said ways you could improve your rating. For ours it stated our credit cards are too old. Ha! So are we! What do they expect old people to have? We had a good laugh at how stupid these agencies can be about their precious scores.

Re: CREDIT SCORE

Pqfan — Tue, 10 Jan 2017 01:08:28 GMT

@Tribesters wrote:
Mine is on my Discover card statement every month. It's currently 811. Last time I checked it said something like "although your score is excellent it could be improved by taking out a loan with regular recurring payments." So my credit score would improve if I borrowed money? Does that make any sense?

@Tribesters They said that to me too! Mine was the highest on their chart and when I pay everything off every month they lowered it a couple of points. Grrr!

Re: CREDIT SCORE

itiswhatitis — Tue, 10 Jan 2017 01:23:30 GMT

@Tribesters wrote:
Mine is on my Discover card statement every month. It's currently 811. Last time I checked it said something like "although your score is excellent it could be improved by taking out a loan with regular recurring payments." So my credit score would improve if I borrowed money? Does that make any sense?

@Tribesters are ALL of your scores on your Discover statement? If so, that's cool.

Re: CREDIT SCORE

croemer — Tue, 10 Jan 2017 01:29:05 GMT

720 is a pretty good score, she must have some other things which count against her. My credit card also gives us our score each month...I like having that as a plus to our account.

Re: CREDIT SCORE

handygal2 — Tue, 10 Jan 2017 01:56:09 GMT

@Tribesters wrote:
Mine is on my Discover card statement every month. It's currently 811. Last time I checked it said something like "although your score is excellent it could be improved by taking out a loan with regular recurring payments." So my credit score would improve if I borrowed money? Does that make any sense?

@Tribesters: I thought the same thing: Shouldn't your credit score be higher if you don't NEED to borrow money?? That should indicate that you have your spending well under control, and you're not buying more than you can afford.

Re: CREDIT SCORE

handygal2 — Tue, 10 Jan 2017 02:26:20 GMT

@Havarti wrote:
I had to laugh. We recently decided to refi the mortgage. We got a copy back from the credit check they ran for the refi. We have 850 out of 850 for a FICO score, but Equifax rated us slightly lower. In one area it said ways you could improve your rating. For ours it stated our credit cards are too old. Ha! So are we! What do they expect old people to have? We had a good laugh at how stupid these agencies can be about their precious scores.

@Havarti: Funny, but my credit report says that credit card accounts open for a long time are a GOOD thing! Some of their criteria seem like oxymorons, lol.

Re: CREDIT SCORE

Desertdi — Tue, 10 Jan 2017 05:27:58 GMT

Unless the cc company pulls a copy of your financial statement.......they have NO IDEA of what you are worth. (I used to work in a credit function of financial accounting.)