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Thread: Low credit score

  1. #11
    Senior Member JaneV2.0's Avatar
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    Haha--I got a similar assessment when I was angling for a car loan (paid off within six months), too. It was the first time I knew what my rating was; I haven't checked on it since.

  2. #12
    Senior Member dmc's Avatar
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    My wife and I haven’t had earned income for years, but we put everything on the credit cards. And pay them all off at the end of the month. We never paid credit card interest.

    We did take out a loan for the wife’s new car, at 1.9% it was a little less than we were making in our money market account. We could pay it off if we chose to.

    Her score has bounced between 835 - 845 for years. Mine for some reason is a little less, or so she tells me. But the credit cards are all in her name so that may have something to do with it.

    We have never had a problem with getting a loan if we wanted one.

  3. #13
    Senior Member dmc's Avatar
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    This is a screenshot from my wife’s credit card company.
    Attachment 2496

    Evidently she has 21 accounts and 26 years of credit. I imagine most of those accounts are store credit cards, I know she has quite a few for some reason. I carry a discover, American Express, and Visa myself.

  4. #14
    Senior Member dmc's Avatar
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    It’s kind of hard to read but it says what helps is no missed payments, and revolving utilization is low.

  5. #15
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    Quote Originally Posted by dmc View Post
    My wife and I haven’t had earned income for years, but we put everything on the credit cards. And pay them all off at the end of the month. We never paid credit card interest.

    We did take out a loan for the wife’s new car, at 1.9% it was a little less than we were making in our money market account. We could pay it off if we chose to.

    Her score has bounced between 835 - 845 for years. Mine for some reason is a little less, or so she tells me. But the credit cards are all in her name so that may have something to do with it.

    We have never had a problem with getting a loan if we wanted one.
    So our problem may be that we have only 1 credit card even though we use it heavily and pay it off every month? Interesting that if we spread those dollars over 10 cards we might have a better score? Insane.

  6. #16
    Senior Member dmc's Avatar
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    It doesn’t make any sense to me either. We have the ability to rack up a huge amount of debt over various cards, but since we don’t utilize them to their fullest she gets a higher rating.

    But mine is also in the 800+ range and I have no cards that are in my name. But I am on the 3 cards that I use. I’ve been told that it really doesn’t matter as long as your score is 750 or so. You don’t get anything extra for it being higher.

  7. #17
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    Ouch mine is under 600, i do have a foreclosure so I didn't expect great. I have been good with credit over the years so I am not worried about getting in trouble, for foreclosure was out of my control

  8. #18
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    Ours is 780. We use our cards for big purchases or vacation. Someone stole our CC number and Capital 1 knew immediately because all the purchases were small.

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