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About LinkBacksI have two mortgages, 1 car loan, 2 credit cards. Never missed a payment. I don't have any liens, or collections, and I only have a 659 credit score (Fico).
To be honest I thought with my history I would be in the mid 700's. 659 is a bit disappointing. The lady told me that the only thing she sees that might be affecting my score is that I purchased a vehicle about 8 months ago and that I don't maintain my credit card debt below 50 percent of what I can charge on them. Your thoughts as to what I can do to improve?
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Green Member
- Join Date
- Oct 2011
- Location
- el centri
- Posts
- 3
659 credit score but I've never missed a payment in my life
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Centurion Member
- Join Date
- Dec 2010
- Location
- Florida
- Posts
- 209
Your utilization is a ratio of DEBT:CREDIT.
Get your utilization down. You can do this by either paying down your balances (reducing the left side of the equation) or by opening new accounts (increasing the right side of the equation). You might qualify for a new card with a 0% introductory offer, so if you're carrying a balance you could get a year or so reprieve on interest. Citi and Discover each have transfer offers at the moment, but they may require a 3% fee. It's still better than 15%+ for a year.Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan
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Green Member
- Join Date
- Nov 2011
- Location
- Jacksonville
- Posts
- 11
Yes, take your utilization rate down. Optimum for a high score is 1% to 15%.
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