My plan was to pay it off in one year so it should help my score right and not hurt it?
Getting close to buying a vehicle, advice on my plan/plans.
- Thread starter GzUp
- Start date
What's the best way to check my credit score without it affecting my credit score?
a lot of credit cards are giving you access to your fico score, so i'd check that first.
creditkarma.com is free, but it's not your fico score. i would guess it's a rough approximation.
When I checked my credit score back in October was with my bank and they did check my fico score but don't it affect your credit score to run it again?
if it's just your score then no, but if that was in conjunction with running a credit report then pulling your credit report impacts it, especially a hard pull.
I'm going to try the creditkarma and see what estimate where I'm at.
At the time I when they ran my credit I had a student loan that had increased in total because of interest and having it deferred. I have since paid it off in full, do u think it has helped my credit?
Scrap any plans on financing a car.. if you really need a ride just something used for like 5 stacks..
Or if you currently have a car and it's paid off hold onto it until you get your house
Or if you currently have a car and it's paid off hold onto it until you get your house
Just checked my credit score, trans union has me at 654 and equifax has me at 657.. equifax has a collection bill that is open that I paid off like 7 months ago. Trans union has it as paid off and closed.. what do I do?
Do I call the people I paid the bill too or equifax?
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well since transunion has it paid off, you need to find out why equifax has it open.
edit: is it open and $0 or open and the amount you paid off? open and $0 is good.
Trans union has it closed/paid with a 0 balance.. equifax has it as open and has the current owed balance.
i thought what you currently owed on it was $0 since it was paid off?
On trans union it saying it's paid off with a zero balance but equifax has it as open like I still haven't paid the bill.
GnauzBookOfRhymes
Superstar
go to the credit card forum, you're getting some mixed up info in here. as a general rule the most important figures for the bank/lender are:
1. your current income
2. debt to income ratio
Credit score is determined by a wide variety of factors
1. payment history - even if you're only charging $35 per month, paying it off and never missing a payment is crucial.
2. credit utilization, otherwise the percentage of available credit you are actually using
3. length of credit - how long have you had a credit history. are all of your credit accounts recent?
one thing to realize about credit score is that there are tradeoffs and most often, it will take time for certain things to positively affect your score. for instance, opening a new credit account will initially lower your score because of the hard inquiry and because it will show up as a new credit line (and if you have multiple new accounts within a short period of time that can have an even greater negative impact in the short term). BUT eventually it will help when you are able to show consecutive on time payments (payment history) AND because your credit utilization will go down.
with a 650 credit score, i think waiting a year is a good idea. it will also give you enough time to open another credit account. by the time you're ready to buy a home it will be a positive driver of your score. if you bank with Chase they have a free credit score monitoring function. most banks nowadays do.
1. your current income
2. debt to income ratio
Credit score is determined by a wide variety of factors
1. payment history - even if you're only charging $35 per month, paying it off and never missing a payment is crucial.
2. credit utilization, otherwise the percentage of available credit you are actually using
3. length of credit - how long have you had a credit history. are all of your credit accounts recent?
one thing to realize about credit score is that there are tradeoffs and most often, it will take time for certain things to positively affect your score. for instance, opening a new credit account will initially lower your score because of the hard inquiry and because it will show up as a new credit line (and if you have multiple new accounts within a short period of time that can have an even greater negative impact in the short term). BUT eventually it will help when you are able to show consecutive on time payments (payment history) AND because your credit utilization will go down.
with a 650 credit score, i think waiting a year is a good idea. it will also give you enough time to open another credit account. by the time you're ready to buy a home it will be a positive driver of your score. if you bank with Chase they have a free credit score monitoring function. most banks nowadays do.
what does equifax have the balance as?
1,069