Comments on: Improving Your Credit Score- Tips to Increase Your Score http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/ Everything to do with thickening your wallet Wed, 01 Feb 2012 15:44:00 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Justine http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-18614 Justine Wed, 15 Apr 2009 17:05:57 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-18614 Hi, this is great information. i have a question though? my husband and i are working on getting a house this year, but my credit is not quit up to parr. i dont have a huge credit history and i cant qualify for a credit card because of my past.. i am just 20 points below where i need to be to get a house..how can i increase my credit in five months..i havent been late on a payment for over two years now. i was told to just be a card holder on my husbands accounts and that would help..is there anything else i can do to speed this process up? i have fixed all that i possibly can on my report..so now what? Hi, this is great information. i have a question though? my husband and i are working on getting a house this year, but my credit is not quit up to parr. i dont have a huge credit history and i cant qualify for a credit card because of my past.. i am just 20 points below where i need to be to get a house..how can i increase my credit in five months..i havent been late on a payment for over two years now. i was told to just be a card holder on my husbands accounts and that would help..is there anything else i can do to speed this process up? i have fixed all that i possibly can on my report..so now what?

]]> By: redfox http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-15258 redfox Thu, 31 Jul 2008 04:47:30 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-15258 do active savings accounts count towards your credit score?? also i just applied at scotia bank for a loc , he told me i came in at c and the ratings were a to e . so i figure im middle of the road, which would be ???? i have no idea do active savings accounts count towards your credit score??

also i just applied at scotia bank for a loc , he told me i came in at c and the ratings were a to e . so i figure im middle of the road, which would be ???? i have no idea

]]> By: Rachael http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-9091 Rachael Wed, 16 Apr 2008 18:21:34 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-9091 This sound really simple but there is real beauty in simplicity. If you cannot make payments, make sure you are never 60 days past due. Some creditors will not report you if you are under 30 days past due but they will definitely report you for 60 days over-due. This sound really simple but there is real beauty in simplicity. If you cannot make payments, make sure you are never 60 days past due. Some creditors will not report you if you are under 30 days past due but they will definitely report you for 60 days over-due.

]]> By: Elliott Russell http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-7883 Elliott Russell Mon, 10 Mar 2008 21:14:22 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-7883 Great post! I find it is a shame that people are not taught about this in school (at least i wasn't) and that the majority of people find out about this the hard way :P Great post!

I find it is a shame that people are not taught about this in school (at least i wasn’t) and that the majority of people find out about this the hard way :P

]]> By: Stephane Grenier http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-7282 Stephane Grenier Wed, 20 Feb 2008 16:32:48 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-7282 Another tip, which only works if you've already defaulted on an obligation, is to ask the collection agency for the original paperwork. If they can't find it, mainly because your obligation has probably already passed through several hands, then they can't report it (http://www.followsteph.com/2008/02/18/a-lesser-known-secret-tip-to-increase-your-credit-score/)! Another tip, which only works if you’ve already defaulted on an obligation, is to ask the collection agency for the original paperwork. If they can’t find it, mainly because your obligation has probably already passed through several hands, then they can’t report it (http://www.followsteph.com/2008/02/18/a-lesser-known-secret-tip-to-increase-your-credit-score/)!

]]> By: Melanie McLister http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-58 Melanie McLister Wed, 23 May 2007 22:47:23 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-58 Hi Money, Thicken makes some good points. In addition, it's useful to remember that lenders generally look at the 5 C's of credit to determine whether or not to lend you money. These include: character(integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy). If you're judged well on all 5 of these criteria, you are typically eligible for the best rates. Note, however, that once you achieve a good credit score (like 720) you're generally not going to get a better rate by improving to great score (like 820). Hi Money,

Thicken makes some good points. In addition, it’s useful to remember that lenders generally look at the 5 C’s of credit to determine whether or not to lend you money.

These include: character(integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy).

If you’re judged well on all 5 of these criteria, you are typically eligible for the best rates.

Note, however, that once you achieve a good credit score (like 720) you’re generally not going to get a better rate by improving to great score (like 820).

]]> By: admin http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-33 admin Mon, 14 May 2007 21:48:15 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-33 In the interest of addressing two posts in one response: 1. Briana- I would treat every account, regardless of whether it is a major credit card or minor credit card, with the same approach. Pay it off, keep a good history and keep the debt to credit ratio low. Without addressing the specifics of your situation, accounts which are active with good history are better than accounts which are not active with good history. 2. Re: Money- I would take any mortgage offer as merely an opening offer. Good credit ratings may, depending on the bank, allow you greater access to thinks like over-draft protection and other products which banks offer (especially useful for the self-employed). In the interest of addressing two posts in one response:

1. Briana- I would treat every account, regardless of whether it is a major credit card or minor credit card, with the same approach. Pay it off, keep a good history and keep the debt to credit ratio low. Without addressing the specifics of your situation, accounts which are active with good history are better than accounts which are not active with good history.

2. Re: Money- I would take any mortgage offer as merely an opening offer. Good credit ratings may, depending on the bank, allow you greater access to thinks like over-draft protection and other products which banks offer (especially useful for the self-employed).

]]> By: Re: money http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-28 Re: money Fri, 11 May 2007 23:20:49 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-28 I keep hearing that good credit rating can help you get a lower mortgage rate - how?! We have stellar credit scores and from what I could see we got quoted the same rate as everyone else. Should we have negotiated? Any other benefits to having a good credit rating? I keep hearing that good credit rating can help you get a lower mortgage rate – how?!

We have stellar credit scores and from what I could see we got quoted the same rate as everyone else. Should we have negotiated?

Any other benefits to having a good credit rating?

]]> By: briana http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-27 briana Fri, 11 May 2007 21:13:23 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-27 Any idea what the impact is to ask for a credit reduction, assuming your credit cards are paid off or nearly done? What about store credit and other consumer loans? I've got a couple of store financing accounts that are still open even though I have no plan to use them, because I'm not sure what the impact will be of closing those accounts. Any idea what the impact is to ask for a credit reduction, assuming your credit cards are paid off or nearly done? What about store credit and other consumer loans? I’ve got a couple of store financing accounts that are still open even though I have no plan to use them, because I’m not sure what the impact will be of closing those accounts.

]]> By: FinancialJungleGuy http://www.thickenmywallet.com/blog/wp/2007/05/07/improving-your-credit-score-the-specifics/comment-page-1/#comment-19 FinancialJungleGuy Tue, 08 May 2007 05:24:11 +0000 http://www.thickenmywallet.com/blog/wp/?p=30#comment-19 Hi Thicken, To be honest, I’m completely oblivious about our credit scores. My wife and I have a couple of credit cards and always pay off the balance each month. We simply go about our day-to-day lives without consciously looking to increase transaction counts, or determine the optimal number of credit cards. I’m sure every little steps count, however your tip #1 probably carries the most weight. Financial Jungle Guy Hi Thicken,

To be honest, I’m completely oblivious about our credit scores. My wife and I have a couple of credit cards and always pay off the balance each month. We simply go about our day-to-day lives without consciously looking to increase transaction counts, or determine the optimal number of credit cards. I’m sure every little steps count, however your tip #1 probably carries the most weight.

Financial Jungle Guy

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