What am I doing wrong??

For just about anything you want to get off your chest about credit cards.
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SWADE23
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What am I doing wrong??

Postby SWADE23 » Tue Jun 26, 2012 8:40 am

Morning all,

Long story short... I had old credit debt that I paid off the end of last summer... My credit score then was in the 590's
Since then I sent paid letters to the credit bureaus stating everything was paid off
11/11 My mom put me on as an authorized user on her oldest card
Recently, (april 2012) I applied and have been using the good ol Mastercard with the 500 dollar limit. Also got myself a 300 dollar secured Visa from my local Credit Union...
I have been using these properly, leaving a small balance on the MC and paying off the secured card. Granted its only been 2 payments...
I was even thinking of taking out 2 secured loans for 1000-2000 dollars just to try and get the score up...

I checked Credit Karma for the 1st time today and to my surprise my score is 593!
I gotta be doing something wrong... I thought at the very least paying off my old debts would have got me to at least 600... Even if its 5 points off, I still havent gotten anywhere...
Although, Credit Karma states that my utilization is 31% adding my moms total credit line in with my 2 small cards... Is that bad??

If anyone has any ideas or help Id really appreciate it... Im really trying to do this the right way (this time) lol


DavidNY
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Postby DavidNY » Tue Jun 26, 2012 9:15 am

Go to annualcreditreport.com and get your credit reports. Check them for accuracy.

SWADE23
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Postby SWADE23 » Wed Jun 27, 2012 8:02 am

will do... thanks

SWADE23
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Postby SWADE23 » Wed Jun 27, 2012 9:16 am

ok I checked with Freecreditreport.com and paid for all 3 reports and scores... As per DavidNY thanks

Experian - 656 / Equifax - 605 / TransUnion - 629

not good but its better than last summer... There are some accounts that Equifax does not have that the other 2 do... I gotta figure out how to get them all to match...

What else could I do to improve my scores??? Or is it just a time thing?

MemberSince99
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Postby MemberSince99 » Wed Jun 27, 2012 10:38 am

I'm thinking those are not FICO scores. FICO scores are all that really matter. They may be very different from the FAKO scores you purchased. The EX score has to be a FAKO because you the consumer cannot purchase their FICO score.

To show you how different these can be, my CK score was recently 713 for TU while my TU FICO was 778. This is not uncommon.

You will want to be certain you are looking at FICO scores that might explain some of this.

Also you have small limit cards which won't give you huge scores either but over time responsible use should get you bigger limits/better cards and your score will rise. If you are looking for a magic bullet way to jack your score up there are very few legitimate legal ways to do this.Time and responsible use go a long way.

DavidNY
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Postby DavidNY » Wed Jun 27, 2012 10:40 am

For future reference, freecreditreport.com is a ripoff. Annualcreditreport.com is free.

SWADE23
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Postby SWADE23 » Wed Jun 27, 2012 10:47 am

@ DavidNY

I made an error.... I went to Annualcreditreport not Freecreditreport... Sorry, got confused... I was typing and doing 2 things at once...
Annualcredit took me to Experian and since I had already received a free report earlier this year I had to pay for it this time around...

In reference to FICO and FAKO your saying I should also check Myfico.com for my score there as well ??

MemberSince99
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Postby MemberSince99 » Wed Jun 27, 2012 1:45 pm

SWADE23 wrote:@ DavidNY

I made an error.... I went to Annualcreditreport not Freecreditreport... Sorry, got confused... I was typing and doing 2 things at once...
Annualcredit took me to Experian and since I had already received a free report earlier this year I had to pay for it this time around...

In reference to FICO and FAKO your saying I should also check Myfico.com for my score there as well ??


Yes that is pretty much the only source for FICO scores - a few credit unions and the Walmart Discover give you access to them, but otherwise you need to go to that site to get them.

SWADE23
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Postby SWADE23 » Wed Jun 27, 2012 2:16 pm

Ok cool thanks for the info 99... ill do that next

And thanks David for all your input...

SWADE23
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Postby SWADE23 » Wed Jun 27, 2012 2:40 pm

Myfico.com score - 625

I guess its just a waiting game now... I'd like to be at 700 by end of year...



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