672 credit score, what would be a good card to improve it?

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sdfd504
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672 credit score, what would be a good card to improve it?

Postby sdfd504 » Mon Jul 01, 2013 1:50 am

Ok so I am a full time student with a 30k income. I just checked my FICO score using their free site and it shows a 672 credit score. I have had my Citi Forward card ($1500 limit) since 11/2013 and always pay it off monthly. I want to increase my credit score as much as possible and wonder how I need to go about doing so?


MemberSince99
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Postby MemberSince99 » Mon Jul 01, 2013 6:46 pm

You've had your Citi card since 4 months in the future? Gotta be a typo there somewhere.

Anyway I would say Discover. Chase Freedom is another good choice, if you've really had it since 11/2012.

sdfd504
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Postby sdfd504 » Mon Jul 01, 2013 6:47 pm

Whoops yes I meant from 11/2012.

Kripler68
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Postby Kripler68 » Mon Jul 01, 2013 9:24 pm

Hey sdfd504,what,s next weeks lottery numbers? lol

takeshi
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Postby takeshi » Tue Jul 02, 2013 3:27 pm

It's not just a matter of "Which card?" but the usual suspects: utilization, payment history, AAoA, derogs, etc.

sdfd504 wrote:I have had my Citi Forward card ($1500 limit) since 11/2013 and always pay it off monthly.

If 0 utilization is reporting that isn't helping you. You want minimal utilization but not 0.

Is that the only card you have? Do you have any other accounts as well (loans, etc)?

Daniel
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Postby Daniel » Wed Jul 03, 2013 11:03 am

takeshi wrote:It's not just a matter of "Which card?" but the usual suspects: utilization, payment history, AAoA, derogs, etc.


If 0 utilization is reporting that isn't helping you. You want minimal utilization but not 0.

Is that the only card you have? Do you have any other accounts as well (loans, etc)?


Just a note regarding utilization, Utilization is based on the statement balance of the account(s) in question. So, receiving a statement with $500 on it and paying in full on or before the due date does indeed show utilization on ones credit report. The catch is, make sure the balance hits your statement as it is possible to pay one's balance down to 0 prior to the statement date, which in most cases I am familiar with shows 0 utilization (but not inactive).

flan
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Postby flan » Wed Jul 03, 2013 5:41 pm

Daniel wrote:Just a note regarding utilization, Utilization is based on the statement balance of the account(s) in question. So, receiving a statement with $500 on it and paying in full on or before the due date does indeed show utilization on ones credit report. The catch is, make sure the balance hits your statement as it is possible to pay one's balance down to 0 prior to the statement date, which in most cases I am familiar with shows 0 utilization (but not inactive).


There's no "active/inactive" flag in the file format most lenders use to report to credit bureaus. It's essentially impossible for an outsider to tell if you're using an account or not, if it always reports a zero balance.

Also, utilization is based on the *reported* balance, not necessarily the statement balance. Most large lenders report the statement balance, but some lenders report based on a fixed date. Quite a few will do mid-cycle reporting if something has happened to warrant that (change of address or name are most common. Some will do it if you ask.).



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