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Crazygolfer
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0.10 Dollars($)
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Post subject: Vantage score |
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I have three max credit cards on my account. How many points does this deduct from my score, or how many points will I Get once I pay them off?
My report states, "The average loan amount across open, recently reported real estate accounts, such as mortgage, is to low. Having low loan amounts has a negative impact on your credit score." What does this mean and how does it effect my credit score? How many points is this worth? Is this due to income to debt ratio?
My report states, "Your report shows that the time since your oldest credit account or loan opened was to short. having credit accounts or loans open for a longer period of time has a positive impact on your credit score." How many points is this worth?
I make $90,000 per year, I pay $1603.00 per month in debt, mortgage, credit cards, insurance, motorcycle and boat loans, I have apprx $609.00 in utility bills per month. I was late on one payment in 2002. I have never been late on another payment. My credit score is 642. My risk Grade is D, My credit ranking ranks higher than only 26.89% percent of all Americans. I find this unbelieveable. Could you shed some light on why my credit is so bad? I am retired from the Military and have moved all over the world several times between 1980 and 2002, does this effect my score? What can I do to bring my score up to the highest level? I am working to go debt free and have paid and am paying loans off early, is this hurting me? Your help and advice will be appreciated.
Mike Elmore |
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jerry
Moderator
Joined: 17 Oct 2005
Posts: 1778
Location: MICHIGAN
266.03 Dollars($)
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Post subject: |
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Hi Crazygolfer,
Paying off the debts to become debt free is really a good idea. It will not hurt your credit rather it will give a positive boost to your credit score. But I guess it will take some time to improve your credit score. You will have to patient and wait for a few months. There are various steps which you can take in order to improve your credit. Check out the following link to know more about improving your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks,
Jerry |
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Frugal Spender
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0.10 Dollars($)
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Post subject: Vantage Score |
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Just obtained my Vantage score for the 1st time today because I pulled my credit report and noticed that some credit card companies either closed my accounts or reduced my credit availability...without my knowledge. I still have WAY more available credit than I could, or would, ever use. I always had a pretty good FICO score, but this score was even better and I'm not sure why...whether it's because of the new scoring system or the reduced credit availability.
However, 98% of my debt is in my mortgage, never late on any payments, long payment history, satisfied several house loans in full, only have 1/50 of my available revolving credit used - this month's CC balance (always pay CC balances in full each month), no car loans, etc.
Vantage score: 945 out of 990 - A - Super Prime - better than 96.96% of consumers
Considering the economy, I'm happy. But maybe all these defaults are making me look better. I'm not happy about that. |
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Antonio
Guest
0.10 Dollars($)
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Post subject: Fixing the Problem |
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| My score is very low, due to student loans. I had my accounts in deferrment due to me being in school. But their system never added me correctly, and they're telling me now that they can not fix the problem because their system only response to the creditor and not a live person. What do I do? |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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Post subject: |
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Hi Antonio!
Welcome to forums!
In my opinion, you should contact an attorney and let him deal with the credit bureau. He will negotiate both with your creditor as well as the credit bureau.
Sussane |
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