- My credit report indicates I have a delinquent account which was 30-days past due 1-3 times. However, this account which was a loan, was paid off in full in 2008. I can't see the exact date/month that my first or last 30-day late payment was. I am wondering which do they go by, is it my first 30-day late and then 7 years from that it drops off or do they go by the last time I was late for 30-days and 7 years from that? In any case, my credit report from Experian indicates my credit score to be low 700s.
- I have a car loan out right now for roughly 38k which has been paid on time every month with no late payments.
- I have a Amazon Chase card that has a limit of under $1k but above $500. Also it currently has a high utilization rate of 90%.
- I was just granted an Amazon store credit card with a credit limit of $1900.00.
- Another negative on my Experian report indicates that I have too many hard inquiries which bring it to a total of 5 for the past two years. Unfortunately, these are spread out from the beginning of 2011 up until now. I accidentally also applied for two Hawaiian Miles cards which I thought were separate but after looking at my report, I see two hard inquiries from the same exact credit company.
I bought a Honda dirtbike in 09 and took out a $1900 loan and when I did that, the guy at Honda said "holy ****! your credit is so good, you can buy a house man!"
Anyways, here are the things Experian lists that may be negatively affecting my credit score:
- High utilization -- will the added $1900.00 credit limit help to bring the total ratio down from 90% to whatever it would be with the addition of the $1900?
- Too many hard inquiries -- 5 total, 2 being from the same company
- I have a low credit limit -- We have a sub $1k Chase Visa that we personally requested a low credit limit at a time that we were rebuilding our finances
- 30-days late on a loan that was paid off in 2008
- No mortgages