I bounce between 835 - 850 in this rather odd wave pattern that may be as much as 13 points to a low of 1 point...Mine stays at 850. Only exception was when I had a number of large purchases on credit card in the same month. Dropped to 840. Even though paid in full by the due date, apparently when the amount charged is too high a percentage of the credit limit, you get dinged a little.
NOT with THAT machine! I have a floating deck without that I could not mow at all. I don't have a piece of level ground anywhere, full of rocks, stumps, holes you name it.
I read that just owning one of these bad MFers will make your credit score go up 100 points
That is going past me...Why would that be a ding. The balance when I get the bill is much lower than when I pay the bill on the due date.What I'm saying is it matters WHEN you pay the full amount. if you pay the full amount on the due date, you will get dinged because they will report the balance you had 20 days earlier when the statement was mailed to you.
I bounce between 835 - 850 in this rather odd wave pattern that may be as much as 13 points to a low of 1 point...
One of the drawbacks of credit reporting is that they only go back about 5 to 7 years. I think it should be a lifetime thing.
We have 3 cards that I have to remember to use once a year (we had one canceled because we never used it...lol). One's a MC issued through our CU, so it's easy to use and then pay later that day, another is Cabela's, which is easy to pay online as well. Third one is one of the big banks......I'm VERY leery of those SOB's, and use it, wait until the end of the week and then pay online as well. I then f/u a week later just to be SURE they credit my account properly (once in a while they manage to credit the "wrong" account "by accident", leaving a balance owed......).
Few years ago as the Internet became ubiquitous I cleaned up my financial life but getting down to 2 charge cards only. With luck my financial life sits almost completely in one basket, USAA. As USAA was one of the very first companies to go with automation [early 50's] they are about as knowledgable and bulletproof as any company out there when it comes to protection of your data.I'm okay w/the 7-year window. It lets someone get sideways, learn their lesson, and get back on track without being hammered the rest of their lives - and most credit issuers would LOVE the excuse. We have 3 cards that I have to remember to use once a year (we had one canceled because we never used it...lol). One's a MC issued through our CU, so it's easy to use and then pay later that day, another is Cabela's, which is easy to pay online as well. Third one is one of the big banks......I'm VERY leery of those SOB's, and use it, wait until the end of the week and then pay online as well. I then f/u a week later just to be SURE they credit my account properly (once in a while they manage to credit the "wrong" account "by accident", leaving a balance owed......).
Been told if the financial institution cancels it its a ding, if you cancel, nothing...Yeah.
I started a thread on this a few years ago.
Bank informed me they were canceling a card I had, because I never used it, and I was worrying about what it might do to my credit.
Been told if the financial institution cancels it its a ding, if you cancel, nothing...
Having a good mix of cards, installment loans helps your credit score. having one or two cards might keep you from getting to 800 territory.
Closing accts lowers your score, sorry just not true.closing accounts lowers your "average age of accounts", which lowers your score.
Keep those cars in a sock, use them a couple of times a year to keep them open. Don't worry about exposure, the cards are covered by the bank, let them worry about that. Fraud detection these days is driven by AI and stop stuff pretty quick.
Having a good mix of cards, installment loans helps your credit score. having one or two cards might keep you from getting to 800 territory.
My bet is ONLY if you got the income to support the increased credit on those stacked cards. They do look at the credit limit and your ability to pay, one stack those cards you can quickly pass your paycheck.You're talking about FICO so that may be true however some scoring methods consider "available credit" which can be boosted by additional cards
I shucked that card back in the late 70's and have never looked back...And WHATEVER you do, avoid AMEX at ALL costs.
I shucked that card back in the late 70's and have never looked back...