My one credit card has a $2,000 limit, but I rarely put even $200 on it and if I do it’s because I’m traveling. They keep bumping the limit amount up, but I put a stop to that because of risk. I believe it was up to 4k at one time. By having that “credit line” and then not utilizing it, my score goes up. I’ve also paid every bill in my life on time and in full. It’s not hard when you think about it, and only gets easier as time goes on. What’s hard is trying to juggle debt and prioritizing payments for things you’ve already bought with money you don’t have. The trick is to start early in life and not mess up in the first place (too late for you, but teach your kids!). Keep doing what you’re doing, in the long run it’ll help. A 600 score sucks though, you’re pretty much born with 650 and have to willingly screw up to go any lower than that. Blunt truths…

You do realize that I was goading you, right? I knew you were bullshitting from your first post because it’s just not possible. I’m at 777 at last check. It’s pretty damn hard to go below 600. You have to seriously mess up for that to happen. Even people with no credit history probably start off around a 650 credit score. And your “friend who runs a business” does not operate that business with such a low credit score. Most businessmen have good to great credit, otherwise they’d go out of business.

December 650 Credit

First of all how is your credit? If it's 650 and above go to your local credit union ask them for a credit line of $3,500 or $4,000. A credit line has these features:

• No time limit to pay, and on $5,000 its only $100 a month,
• Also, when you make the payment they put back 50% of your payment back into your account to use, check it out.
• They don’t check on your work and they don’t ask for paystubs 99% of the time.

Depending what area you're in, you can establish credit fast. If your credit score is low, check your report at Credit Karma for a free credit check.

Other advice ask me.

Credit Scores are Funny

I have never missed a payment. I have a mortgage. I have a car loan. I have $35K cash in my savings and $145K in my 401K. I have two credit cards with zero interest until December of this year that are close to being maxed out. My credit score went from 742 Last September to 650. I am a “Sub Prime” candidate now. Total credit card debt is $12K.

It’s pretty straight forward. 3.04% 5 year rate…need to have a 650 credit score. The rest is easy.

Rental qualification requirements

I am finding every property requires credit score over 600, no evictions (ever) on record and the previous landlord must give a verbal reference and if he said he “will not rent” to that specific person is denial.

Here is summary, but similar everywhere:

Credit Requirements

1. Credit score of 650 or above is required, however if the score is under 650 (600-650), you may be approved with an increased deposit equal to two times the monthly rental amount. If your score is less than 600, the application will be denied. A bankruptcy must be three years old from the date of discharge.
2. If no credit history is established the application will be denied.
3. Any type of foreclosure within the last 5 years will result in automatic denial.
4. If the applicant(s) have no rental history and no credit history, the application will be denied.
5. If any unpaid or outstanding collection accounts are from a management company or landlord, the application will be denied.

Possible to Refinance Vehicle

After recently bumping my credit score from 570 to 650 (FAKO, all three around this) in a month from Goodwill letters/e-mails, to verification disputes and getting three of my four collections removed off my credit report. (Still working on the last one) And in the same breath getting a secured Capital One, an unsecured Capital One, and a Kay’s credit card for $2,500. Now, the only thing I want to do, before I let my account ‘garden’ (hopefully using that word right) is to refinance my vehicle. When I got my 2005 Chevy Impala, I was sitting at mid-$500s with those four collections. So, the type of lender I went through has me at 22.00% APR, payoff is $8300.00. Vehicle is only worth $6,300, yet, I know I’m upside down due to trading in a Hyundai when the clutch went out. Trading in the 2005 Chevy Impala isn’t really an option, since I just put $2k in it, replacing the entire transmission, and the vehicle has 117,000, and I’m aware some dealers don’t want to deal with vehicles after 100k miles. So, what feasible options, do I have to refinance this vehicle?

Credit score down 100 pts after co-signing

Hello all, and thanks in advance for any advice. As stated in the subject; I co-signed for my father’s new car (his credit was less than stellar and he co-signed for my first car when I was a kid, so I figured I’d help him out) and my score went down exactly 100 points. I’ve been working so hard on getting my score up, before I signed my score was at 650 now its 550. I’ve been paying down all my debt, settling where possible and making my car payments on time (I just bought a car myself), I do not have any open credit cards. So, any advice on the quickest way to get my name off of my dad’s car loan and my score back up (have him re-finance, etc.)? I knew it would go down when I did this, but didn’t think it would be knocked down that much… Thanks, again, for any tips.

Obtaining a home loan

Me and my wife would like to buy a home our current income together is about $4800 with expenses of $3500. This leaves about $1300 left over. She has a good credit score of about 650, no collections, no delinquencies, and 5 hard inquiries. Me on the other hand, I have a credit score of 595, current delinquencies, 4 collections, and 12 hard inquiries. With the current housing and financial market, do you think it will be possible to get a home loan?

A couple months ago the banks upped the interest rates and lowered the credit lines to just above my balance. When I would go to apply for any kind of loan, (and my score was 690 just a few months ago) they would just say that my debt-to-income ratio was too high. My in-laws have been foreclosed AND evicted in the last 2 years and they just rented a nice place. He got a new, much higher-paying job. More detail: I make 55000 and have 2 kids. My wife is in nursing school. In a year, when she is working, we could easily handle the debt load. The problem is handling it till then. She is taking out the maximum subsidized loan and we can’t get a private loan…

Found the solar lease

Unsecured credit line to 100k. They say the minimum credit score is 650. Launching Nov. 30 to every broker I can find

It doesn’t always help to pay your credit card…

bills off every month. 🙁 In December I had a credit score of 760 (mid score). I had a card that never got used (Sleep Number), and so they closed my acct. I had another card that I rarely used, so they reduced my credit. It was at $2500, and they reduced it to $1500. :O Only my high balance still showed that I used $2500 (as I maxed it out one month, but paid it off the same month). By the looks of it, it looks like I went over my $1500 limit. So here is where it starts to go downhill. Walmart saw that FICO score go down, and they in turn decreased my credit, all the while still reporting my high balance, of my original amount. Again, looking like I over extended my credit. So B of A reduced my credit. Same song, same dance. Then Walmart again. Now WM again. This last WM one actually makes no sense to me… Anyway my Fico score is at 650 now. All of this while paying my bills on time every month. 🙁

Credit opinions

I finally got my credit score in the low 700s. I have several cards, some I dont use, have always paid way more than the minimum payments. Back in August I cancelled my Verizon bundle account, returned my equipment and even got a bill that said -80.00, which would be a credit for the unreturned equipment. Since then, they have charged me for services that I havent used and since I couldnt be connected to anyone who would help me with this I have sent a copy of my bills and a formal complaint to the Attorney Generals Office. I am waiting to hear back from them but in the meantime I am now in collections from Verizon for $128.00. My credit score has dropped to around 650, just from this one item, and I am getting letters saying my credit limits have been dropped. Should I pay the collections and seek a refund when the A.G.’s office gets back with me or should I wait this out? Also, Walmart dropped my limit, I owe them nothing and don't plan on using it, should I just close them? I heard it may adversly affect your score if you close up accounts? Amex lowered me also. I owed $1,500. I paid $500 in January and just paid another $200. in Feb. How could they think I am a risk?

You don’t know jack about CREDIT

You can get a 800 fico score after 6 months and one credit card but in the lending industry this is known as a “soft” 800. You only have one card, short history and a limited amount of credit. They don’t know what your true nature is yet. If someone with a 650 Fico, 6 cards, 10 years of history, $70k in limits applies for a mortgage, he will get better rates than the person with that 6 months of history and 800 score. In fact, the 800 fico may be DENIED.

I’ll clarify this for you to make it simplier

Jack has a Fico score of 800 but he only has one credit card and his credit history is only 7 months long. He gets denied for the mortgage. Jane has a Fico score of 650, 5 credit cards, had 2 loans in her lifetime, and her credit history is 7 years old. She gets approved. The Fico score isn’t the say all end all of loan applications. Fico scores are formulas that banks consider but they also dig deep into your credit history.

Foreclosure

So I might be going into foreclosure soon. I have a couple of questions: How hard is it going to be to rent a place now? I have never rented before, but I know they run a credit check. What kind of score are they looking for? So my current employer checks credit annually, am I going to get fired next time the run it? If my current score is 650, how low will it go once the foreclosure is on my record?

Your credit score matters

But only in terms of the interest rate, assuming you’re already over 650. But most ppl don’t understand that a 1% difference in the rate can translate to several hundred dollars … even a thousand or more per year on a $200k home. Example: $200k at 5.5% for 30 years is a payment of $1,135. But take that rate to 6.5% and the payment jumps to $1,264. So over the course of 30 years, that 1% will cost an extra $46,000. Work on getting your score over 750. That’s a magical number.

Mortgage question

Is it still possible to get a low down payment mortgage these days? Back in 2006, I purchased a home with no money down. I fixed it up and when I was done, I ended up moving in with my boyfriend and rented my house out. Now I’m moving out and would like to buy another home and keep my other one as a rental. When I got my first mortgage, I had zero savings, zero 401k, zero down payment, 10k credit card debt and a 650 credit score. Since that time I’ve accumulated $5k in savings, $15k in my 401k, paid off all credit card debt, and my credit score is over 700. I don’t know if that matters to a lender though, I feel like all they’ll look at is my lack of down payment?

Credit Cards and Credit Score

I have decent credit but I want to increase my score. I have: $350 secured card $650 secured card and $7,000 unsecured card I keep pretty low balances and I ALWAYS pay my cards off in full each month. I figure the $350 and the $650 aren’t doing much for my credit anymore since I got the $7,000 unsecured. My question is, would another card improve my score over the next few months? Should I get a gas card or something like that? It would increase my total available credit and lower my utilization rate, right? If not, what do you recommend?

Your credit score probably dropped.

Just saying when peoples score drops, banks get all exited about people spending money. Also means you are more willing to do a balance xfer. Just saying, I have been in the business and that is usually how it works. If you get a Capital One offer it us usually when your score is below 650.

Fastest way to increase credit score

My current credit scores are around 650, 659, 679. I have about $40,000 in combined car loans, college loans, personal loans, and credit card debt. I am currently working on paying down my debt and hope to be debt free in 3 years. What is the fastest way to increase my credit score.

Strategy to improve credit score

I got a “friendly” letter from my credit union telling me about my “great new rate” on my VISA. They upped it 6 points to 17.9%. I thought surely this is an error and called them. They informed me they’ve changed their VISA program so rates are determined solely by credit score. I was surprised to find out my score when pulled was 613. I believe when I refinanced my car loan with them last summer it was around 650. As she explained it to me, I have a long credit history (good), zero late payments (good) but my available credit is probably what is getting me. Last winter in Maine was tough and I had to use credit to heat my home among other things. I carry about $7500 on 2 credit cards and have about $1000 available between the two cards. At this point I’ve been saving money for the next heating season rather than paying down the cards faster. I have been paying only about $25-$50 more than the minimum due lately. If it is available credit that’s bringing me down, would getting a new card with 4-5k line and simply not using it be a way to bring it up by creating a bigger gap between credit available and used? Other than the 2 credit cards I’ve got a student loan @ 4k, car loan @ 7k and mortgage @ 110k. All are current and have been for at least the past 4 years. I was hoping to get a home equity loan this summer to upgrade my heating system and button up the house better. Now knowing my score, I’m afraid I won’t be able to do that. Toughts and advice much appreciated.

What is realistic min score to get business line

I am trying to figure out what the “norm” minimum FICO score is to pull a business line of credit right now in CA. Last year, my banker told me 650; now he’s saying absolute min 680. Just curious…Has anyone out there given/received a business line of credit lately for a score of 660? That is, with the financials being good besides that? If so, can you point me to a website/company? Thanks!

Your broker lying is no excuse for any decisions you make. It is up to YOU to make sure everything is correct. Yes, the broker should be doing his job honestly, but it is your own fault for assuming he would. That said, the fact that you list three scores for the three credit reporting agencies tells me that you are not looking at your FICO score. The agencies have their own system, I forget what it’s called, but unless you go to www.myfico.com and get your FICO score, you are looking at a different score, on a different scale. Your FICO score may well be 650. Go get it and check, and if it differs slightly, that could merely be due to the time since the broker pulled it. So do not assume from that alone that your broker was lying to you. And.. cancellation fees would be standard practice.

Help, my mortgage broker lied to me

She told me my husband and i fico scores are 650 therefore i have to paid 2 points. When she sent me the “CREDIT SCORE INFORMATION DISCLOSURE” i found out that our scores are as follow: For me: Experian 721 Transunion 738 Equifax 665 My husband Experian 657 Transunion 655 Equifax 691 I’m on the loan and my husband is co-borrower. I can not cancel the loan now since it will close in two weeks. I put 15% down at 6.50% 30 years fixed. She told me if i cancel the loan she will charge me $500 for the loan fees since i already gave her my credit card and i already signed and agreed with the terms and conditions. I do have the email that she sent me and told me my fico score was 650. Total of closing and points she charged me $6250

Credit score question

Hi, My credit score recently dropped 50 points from 700 to 650 in one go. Experian and Transuinion went down while Equifax is still at 700. I subscribe to a monthly credit monitoring subscription and do not see any alerts or changes in my credit reports from all 3 agencies. Does anyone have any suggestions about how to find out the cause for this fall in score? Can I actually talk to any of the credit reporting agencies about this? If anyone has suggestions, I’d totally appreciate it. Thanks much!

I saw one posting you said you can use the car to start your business and make “lots of money”. Basically, you want someone to invest in your business and count on you paying them back? How will you make money if you don’t even have money to buy a car? It takes money to make money. If you need a car for your job, buy a piece of shit. Something that will last you for a year. In that timespan you can start building your credit. After 6 months you’ll have a credit score above 650 and can purchase a car at a low interest rate. Problem solved.