Brehs with 700+ credit..

[JT-Money]

I focus on payment history and amount owed. My score has been over 800 for years but it's due to paying debt off almost immediately by making multiple payments per month.

• Payment History (35%): Whether you pay bills on time.
• Amounts Owed (30%): Total debt and credit utilization ratio.
• Length of Credit History (15%): Age of accounts and oldest/newest account.
• New Credit (10%): Number of recent inquiries and new accounts.
• Credit Mix (10%): Variety of accounts, such as credit cards and loans.

FICO scores are all different depending on the institution anyway. The score a Dealership uses will be different than your Bank etc.

FICO® Scores Versions​

Did you know you have more than one FICO® Score?​

FICO Score Types: Why Multiple Versions Matter for You | myFICO

 

[⠀X ⠀]

Find someone with good credit, and ask them to add you as an authorized user on one of their cards.

 

[JoelB]

Most CCs have high APR regardless but its the monthly/yearly fees u wanna avoid. Either way, APR shouldnt matter when it comes to credit card decisions because u are suppose to pay the full statement balance anyways making interest rates irrelevant.

If someone is in the rebuilding stage they likely wont get approved for cards with higher annual fee's. Subprime borrowers are usually stuck with Credit One/First Premier (which everyone should avoid)

Thats why i recommended he go to credit unions like Navy Fed. You can get their secured card, do the pledge loan hack and be set for almost nothing out of pocket.

Discover IT is another good starter card

paying the balance off to 0 is best for saving money, but if you want to maximize how FICO views you, utilization should be kept to single digit.

 

[KillerPups]

it doesnt take years

if u start fresh and have no credit, u can easily build it to 650+ in 3 to 6 months with secured credit cards.

A bank would give a lower rate loan on a customer who’s a 670 with years of history, large installment loans paid off and 6 credit cards than someone with a 700+ history of only being an AU...

Again, being an AU only raises your scores, not help build a healthy credit profile....Scores are temporary and dont tell much about your credit profile. I f u think creditors make decisions based off your scores, then u need to do some more research. U dont build credit by using someone else as an AU. U build it by developing a clean diverse credit profile. Also, u dont have to worry about paying interest on anything so long as u pay your statement balance in full every month. People like to blame banks for their debts, they aint the ones forcing u to spend above your means.

If you're a kid sure maybe but who here is young enough to have blemish free credit?

I'm talking to the people who have some 60 and 90 day late payments on they credit report like i had. some accounts in collections like i had.

my score was low af but as soon as I was put on my wife card who was high 7s i hit the 7s too and was able to build it up from there. And yes it does take years. Probably 6 years of on time payments in my case before i cracked 800. My brother had terrible credit as well i put him on mine and he was able to get a conventional mortgage not even a year later. .

You can say fico score dont matter if you want to buy a 700+ score open doors for brehs that was otherwise closed. I know that it was like having my entire financial record gone over with a fine tooth comb having to submit document after document only to be denied.

Once you hit the 800s they barely even ask you any questions

we could agree to disagree

 

[Stuntone]

The game is rigged. During covid I had a credit score in the 830s. No Lie. I paid off my car, motorcycle and a loan to renovate my house. My credit score dropped 100+ points immediately. I was totally debt free, no mortgage either. But my credit score was in the 600s. Crazy. You have to be in debt you have excellent credit. I purchased a SUV now my score is in mid 700s now. smh

 

[JoelB]

Those that are recommending Authorized User accounts, if you go down that road, try and apply for your own primary account with the same institution.

for example.

If your family member puts you on as an authorized user on their Chase card, you will see a score increase, but as i said several times. Lenders do not respect authorized users like ya'll think. This aint the early 2000s anymore. Once it hits manual underwriting that will not help you.

Instead do the strategy we're sharing in here and get your OWN Chase card (Chase Freedom probably) that way you can piggy back your way to your own primary tradeline which banks will respect.

At some point we're gonna hvae to change the discussion from "How do i get a 700 score" to "How do i build my credit profile to the point banks will give me six figures in funding."

The answer is not Authorized User accounts brehs

 

[desjardins]

I'm not a credit guru
But I went from like a 450 and couldn't get an apartment anywhere couldn't even open a savings account. I had to represent myself in court against collection agencies and all that (i won...in large part from templates I got off some credit forum)
to now have had 800 score for over a decade and get all kinds of loan offers

it really is as simple as paying your bills on time consistently for YEARS.

if you dealing with immediate issues like lawsuits etc. then it's the basics of never admitting to the debt, if you going wait out the 7 years then never pay towards the debt, learn the statute of limitations by STATE. I fukked up and moved states when the agencies was suing me not knowing it reset the statute of limitations on me. also search for credit forums so you can understand how to respond to collections in writing without incriminating yourself or admitting to the debt

 

[Motife43]

I think mine is 760+, last time I checked was when I bought a new whip last yr. I've had CC debt over the years but I never missed payments in the 10+ yrs since I got my first car loan and credit card. Right now, only debt I carry is student loans , two cars and a mortgage

I've mentioned in other credit and credit card threads but me and my wife put everything that can go on a credit card on our cards. Not only are our credit scores high but we get all the perks from spending. Lounges, free subscriptions, tickets, concierge, etc

My biggest tip: If you're DISCIPLINED: put all your necessities (bills, groceries, gas, phone,etc) on credit card. You gotta pay it anyways, so put it on the credit card. Pay it off before the due date and watch that score rise

 

[Black Magisterialness]

I focus on payment history and amount owed. My score has been over 800 for years but it's due to paying debt off almost immediately by making multiple payments per month.

• Payment History (35%): Whether you pay bills on time.
• Amounts Owed (30%): Total debt and credit utilization ratio.
• Length of Credit History (15%): Age of accounts and oldest/newest account.
• New Credit (10%): Number of recent inquiries and new accounts.
• Credit Mix (10%): Variety of accounts, such as credit cards and loans.

FICO scores are all different depending on the institution anyway. The score a Dealership uses will be different than your Bank etc.

FICO® Scores Versions​

Did you know you have more than one FICO® Score?​

FICO Score Types: Why Multiple Versions Matter for You | myFICO

This was a big one for me. When shyt got racked up for me because I had to suddenly move, I was make 2-3 payments a month just to bring it down. If I signed a new client or just came up on some bread, I put some on my debt. Right now I'm trying to kill this Lowes charge so I can close it. It's bullshyt debt and I don't even use the card.

 

[Black Magisterialness]

My biggest tip: If you're DISCIPLINED: put all your necessities (bills, groceries, gas, phone,etc) on credit card. You gotta pay it anyways, so put it on the credit card. Pay it off before the due date and watch that score rise

shyt also helps because 6-7 bills becomes ONE bill.

 

[Bboystyle]

If you're a kid sure maybe but who here is young enough to have blemish free credit?

I'm talking to the people who have some 60 and 90 day late payments on they credit report like i had. some accounts in collections like i had.

my score was low af but as soon as I was put on my wife card who was high 7s i hit the 7s too and was able to build it up from there. And yes it does take years. Probably 6 years of on time payments in my case before i cracked 800. My brother had terrible credit as well i put him on mine and he was able to get a conventional mortgage not even a year later. .

You can say fico score dont matter if you want to buy a 700+ score open doors for brehs that was otherwise closed. I know that it was like having my entire financial record gone over with a fine tooth comb having to submit document after document only to be denied.

Once you hit the 800s they barely even ask you any questions

we could agree to disagree

again, i rebuilt my credit back in 2023 using good will letters on payments that were late 30/60 days and pay for deletes. I paid off all those accounts as well to show good faith to increase my chances on my good will letters. Lenders will look for that even though "professionals" will tell u to not bother paying off collection debt and let it age if they dont do pay for deletes. I didnt use an AU to boost my score because thats irrelevant when it comes from lenders. the first 6 months, my scores shot up after that. Scores mean little to lenders. I dunno how more clearly i can say this. Its literally a cover for your credit profile like a book. I dunno about u but i dont buy books because of the cover, i buy them because of the content inside. That goes the same for lenders as well.

AU is not the way to go to building/fixing credit. Its a cheat code to raise your credit score (like utilization %) but does not guarantee you will get approved from lenders. You HAVE to have your own individual accounts and build history.

 

[Raw Lyrics]

My current credit score, down from 841:

Factors that affect your credit (my total credit line is 104k, only using 8% of it though):

 

[Bboystyle]

My current credit score, down from 841:

Factors that affect your credit (my total credit line is 104k, only using 8% of it though):

thats about where i am now

 

[Raw Lyrics]

thats about where i am now

My credit score was 610 on Easter Sunday of 2017. It took me a lot of discipline (especially during the pandemic when a lot of people were splurging to feel better about the situation) but I refrained from the temptation.

My goal in 2017 was to cop a crib, and got it done by late 2021.

 

[JT-Money]

This was a big one for me. When shyt got racked up for me because I had to suddenly move, I was make 2-3 payments a month just to bring it down. If I signed a new client or just came up on some bread, I put some on my debt. Right now I'm trying to kill this Lowes charge so I can close it. It's bullshyt debt and I don't even use the card.

People don't understand how quickly you get rid of debt by making more than the minimum payment. But credit card companies have consumers in a choke hold. People just can't bring themselves to pay off that balance. I can't wait to payoff my balance in full every time I charge something. The website keeps asking me are you sure this isn't a duplicate payment. I'm like STFU and take my payment!

How credit cards activate the reward center of our brains and drive spending​

How credit cards activate the reward center of our brains and drive spending | MIT Sloan

mitsloan.mit.edu

The Psychology Behind Credit Card Minimum Payments​

Credit Card Minimum Payment Requirement: What’s The Point

The psychology behind credit card minimum payments plays a significant role in how people manage debt. Take control by paying more and break the cycle!

alleviatefinancial.com

Swipe, spend and regret: The sneaky psychology of credit card spending​

Swipe, Spend And Regret: The Sneaky Psychology Of Credit Card Spending | Bankrate

Spending on cards can feel easier than paying in cash, but the financial consequences can be steep. Learn about the sneaky psychology of credit card spending.

www.bankrate.com