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| paula0000 |
 Posted: Sun Feb 27, 2005 3:41 am Post subject: Fico Scores |
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Investing Manager
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| How do you find out what your FICO score is? ANd does anyone know what the numbers mean? |
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| raven3517 |
| Posted: Mon Mar 07, 2005 7:00 am Post subject: |
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Investing Associate
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| If you get a copy of your credit report, it should give you your FICO score. The numbers are how your credit is rated - and that number is what companies/banks/etc use to determine your credit worthiness. Anything more specific than that, I'm afraid I can't answer. Some companies provide you with a guide on how to read your credit report when you order one; that might be something to look into! |
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| alicia gist |
| Posted: Wed Mar 09, 2005 3:29 am Post subject: |
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Investing Sr. Associate
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| I read an article yesterday on MSN that was so confusing. It said you should not close your credit cards after you pay them off because that is part of your credit history. This FICO thing is so confusing. |
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| paula0000 |
| Posted: Tue Mar 29, 2005 3:36 pm Post subject: |
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Investing Manager
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| So much about the credit thing confuses me. I also heard that when you open too many credit cards it's not good for your credit score. ( Like when you're in a department store and they offer you a 10% discount on that purchase if you open a card). I've done that more times than I care to admit... |
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| junsta17 |
| Posted: Wed Jun 29, 2005 10:54 am Post subject: |
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Investing Sr. Associate
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| What is the national average credit rating? Would someone who has a lot of debt but pays on time have a better rating than someone who has little debt but is not always timely with their payments? |
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| sonicreducer |
| Posted: Wed Jun 29, 2005 1:03 pm Post subject: |
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Investing Associate
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From everything I've seen the average is somewhere in the neighboorhood of 675.
A quick google search turned this up, which shows the national average and then a breakdown on age: http://www.nationalscoreindex.com/ScoreNews.aspx
Here's something I had bookmarked from a long time ago:
http://money.cnn.com/2002/02/15/debt/q_fivethings_creditscore/
According to the weighting method thats displayed there, it looks like your best bet is to pay on time and carry as little balance as you can but have accounts with high limits, and keep them active for a long time. |
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| junsta17 |
| Posted: Fri Jul 01, 2005 9:31 am Post subject: |
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Investing Sr. Associate
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| sonicreducer wrote: | From everything I've seen the average is somewhere in the neighboorhood of 675.
A quick google search turned this up, which shows the national average and then a breakdown on age: http://www.nationalscoreindex.com/ScoreNews.aspx
Here's something I had bookmarked from a long time ago:
http://money.cnn.com/2002/02/15/debt/q_fivethings_creditscore/
According to the weighting method thats displayed there, it looks like your best bet is to pay on time and carry as little balance as you can but have accounts with high limits, and keep them active for a long time. |
Thanks that helped a lot.  |
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