so i win
lol…
People in their late teens and early 20s tend to have thin credit files. You could be 21 with 3 deferred student loans and 3 authorized user credit cards and score in the mid 700s. You still havent paid shit in your life and really have no credit.
671, im 21 and just got my first credit card 6 months ago. I also just got about $3k in student loans.
<–that would be this guy! although i havent been stupid enough be sucked into the credit card companies. i have a $750 limit card and i actually do use it for emergencies only.
Last time i checked it was 750 and that was about 1 and a half years ago.
Werd!
The best way to get a higher score with credit utilization would be to use that card once a month so it shows revolving credit. And then pay if off each month, so you don’t get hit with interest. Just charge gas, lunch groceries or something once a month, and then use the cash you would have paid, to pay off your CC. This would help raise your FICO score.
thats what i usually try to do. i put major purchases on it, then pay it off right away. and by major, i mean >$500
also if you go to HD or lowes with your dad pay for the stuff with your CC and have dad give you the cash
good idea lol. but i can think of enough things to use my credit card for. i dont ever go to lowes with him anyways, i send him while i do all the work. its better that way :whip:
I just had mine ran when I took out my third loan last week… im 722.
Ill take that for a 20 year old.
When I opened my mortgage it took about 6 months before my credit score was affected. My score went down about 50pts after that 6 months, now 1.5 years later it is back up to 771
690, house, car (2nd in my name), student loans, and 27 years old… with a few dings in the past. good nuf’ fo now. lights and cable are still on, fuk it.
I can’t look now at school, but I doubt mines great if I even have one. Only being 19 FTL
So who’s got the oldest account?
12 years 5 months here. Credit card I opened early in my college days. It’s changed companies 3 times now because of mergers and acquisitions but the account has never been closed.
somehow I have one thats 27 years old. I’m 23. My dad’s name is Joe too. Bank error in your favor, collect higher credit? :gotme:
Missed it. but I know mine is ~730
I think mine is 18 yrs… can’t remember. Last pull (last qtr) was a 799 (Exp IIRC). I pull the rotation on a quarterly basis and once a year pull all 3 simultaneously.
There are still gradients above 750 (referring to an earlier post) esp. these days with the credit crunch.
I think mine is about 14yrs and the last time i checked it was about ~770
Wow, want a great example of how credit scores can hurt you?
They have a little calculator under the “how lenders see you” section. I put in 48 month used car loan in Buffalo, NY and this is what it spit out:
Score APR
You 720-850 6.000%
690-719 7.925%
660-689 9.000%
620-659 11.331%
590-619 15.022%
500-589 15.973%
Those are the average rates people with those scores are getting. They ramp up pretty fast.
And a 30 year fixed mortgage:
Score APR
You 760-850 5.738%
700-759 5.959%
680-699 6.135%
660-679 6.348%
640-659 6.776%
620-639 7.320%
600-619 9.501%
580-599 10.179%
550-579 10.447%
500-549 10.498%