Wow that's good that you are getting your credit rating back up. I need to get my credit rating so then I can see what is going on with my credit.

time and education is the best formula in repairing credit. stay away from the quick credit fix scams out there because that's what they are scams and the credit repair agencies out their claiming to get you results by paying them, save your money because you can do the same thing practically for little or nothing at all.

Do it right now as we speak! Go to myfico for a more true check, am I right gardyman? And then select who you are going to use to monitor it.

I need to work on my credit again. I need to get it back up to the mid 600's at least. Honestly I have no idea what my credit score is right now. I should go and get my credit score checked.

Sounds like a perfect E=mc2 to me...lol

Time=Success

Time + Positive Payment History + Low Utilization=Success with FICO Score

Nice formula no?

I just started keeping a real close eye on my FICO score. My TU is 723. Equifax is 765, Experian is 743. Whn I got my very first credit report in August of last year it was 698. The down side is that when I got my first credit report, I had two late payments (that was my fault) that were 30 days late. It is amazing what time can do.

I have one collection from '05 that is paid off but it's still keeping my score down

This answered what you was talking about in your first paragraph. Two things happen with a paid derog, pif looks good when you are tyring to apply for something like apts or other credit/loans, but, your overall cr will still hold the 30, 60, 90, lates on there for 7 yrs and that will hold down your scores. Once it removes, you will see a better impact on your scores.

I had a pif car loan as of 2005, I had some unforsceen incidents that had me to get the 30. 60 day lates on my cr, which basically came from dropping my insurance and the bank added it to my car payment without me knowing it. I accepted the consequences because I did not think that the bank will find out, but as I was making regular payments to my car, they were taking over $300 and applying it to their insurance and putting the rest to car payments. This went on for over 5 months before they sent a "Ding Dong, you are behind in payments and here is why" letter.

I had to play catch-up which caused me to get hit with the lates, but gues what? FICO 08 dropped it in Jan or Feb this year and it was suppose to be there for 7 yrs and only stayed there for 4 yrs. They took the entire account away. I did not get mad because I can always tell the new bank to call "Fireside Bank" to verify I had an account with them. Hummmm, I think I will use the other banks that financed my previous cars, I had no baddies there...lmao!

It is all about time. Which tries the patience for though of us that have none. But I know with revolving debt, when it's paid off you get huge jumps. When our debt was FINALLY reported as being paid off dh score went up over 50 points, while mine went up 20 or 30, can't remember which.

I have one collection from '05 that is paid off but it's still keeping my score down.

Speaking of scores, I use to be under the mindset that when I read about people with BKs who have higher scores than me I think I must have done something especially bad and they must have done right before BK. But recently I read a post from someone on another forum who had judgments, liens, a BK, charge offs, 30, 60 and a handful of 120 day lates... the whole nine yards, all recent history. You name the derog this person had it. And yet their score was in the high 600s and they were recently approved for a 17k credit line from a CU!!! WTF??? I have about 6 30 days lates from the 02-05 time period, and a collection for $200, and I'm struggling with my scores in the low to middle 600s.

I can only assume that they're putting A LOT of weight on my high uti and my lack of credit history.

Here is another good thread for you Lyd!

Quoted From Lyd]

Thanks Meya! I really appreciate it. You seem to know quite a bit about all of the ins and outs on most cc and CLI. Good for you! My goal is to be in the 700 club within the next 3-6 months.[/COLOR

You are so welcome! Well I have learned from everyone in here or should I say we all learn from each other. Don't worry you will be in the 700 club within no time, just keep doing what you are doing and you will be the ONE!...lol

Here are some great links for you on this question. But I wuould like to say that, no one knows how the fico scoring system adds or takes away scores. They have their own way of doing things. I think it is a good idea for you to read about the new fico scoring system. This link was origanlly given by another member here on 2/10/2008 and it still works.

1. New Fico 08 scoring system
http://online.wsj.com/art...email.html

2. If you have any questions about this link, reply to it at this link. Please make sure that you click "Post Reply" when you want to respond or ask questions.
[URL]http://www.financeglobe.c..._id=100225[/URL]

Hope this helps!

I'm new to this forum and have been working on rebuilding my credit for 2 years now and have deleted 46 (yes 46) negative items!!! I've got about 4 left on Equifax, 7 on Experian and 6 on TU. I think my credit score is just over 600. I have about 12 major credit cards and several department store but can't get anything else b/c I'm riding my credit limits. I'm planning on paying off 50-70% on every card tonight. Does anyone know how many points that can increase my score and how long it takes to show up? Thanks so much for your help!!!
Lyd

Not only scores but the entire credit report. It is free and FG have add a resource link for that. I would hope that you are checking your also, it is very important not to let anyone destroy your good credit rating. Jill have you checked your true fico scores? You can get them from myfico.com if you have not checked them. Here is the link for your friend to go to in order to get all 3 cr's for free.

1. All three free cr's
https://www.financeglobe.com/SocialNet/resources/annualcreditreport

2. This is for you Jill
http://www.myfico.com/

Hi

Thanks for your replies. I think I have a high credit score because I have loads of high credit limits and hardly ever use my cards except for holidays. Mainly I came on here because a close friend has got themselves into bad debt and I want to know what to advise them. I guess you are saying they should first check their credit score.

Bye for now
Jill