BudCle Posted October 21, 2004 Report Share Posted October 21, 2004 What is the best way about getting your scores to increase? Should you utilize your credit cards instead of paying them off in full every month? I have seen some talk about this but no good answers.. Thanks Link to comment Share on other sites More sharing options...
breathing_easier Posted October 21, 2004 Report Share Posted October 21, 2004 You want to be able to show you know how to handle credit, so it's okay to use your cards in moderation. When your accounts report to the CRAs at the end of the month you want them to show a utilization of under 50% of your credit limit, ideally under 30%. I pay my credit card off in full every month; however, I was making the mistake of paying it off before the due date but after the date that the OC reported to the CRAs. Therefore, even though the balance is paid in full each month and I don't incur any interest, my FICO scores took a hit because it appeared that my utilization was much higher than it actually was. The first month that I made sure to pay off the balance before the OC reported my FICO scores went up by 16 points across the board. Actually, I paid 90% before the OC reported, and the remaining 10% before the due date. I wanted to show that the account was being used, but I'm not sure if that made any difference or not with respect to my FICO scores. When you purchase your reports online with scores it will tell you what is hurting and helping your FICO and will give you suggestions as to how to improve your FICO. PrivacyGuard and myfico.com offer the same service. Link to comment Share on other sites More sharing options...
Guest jeeptravel Posted October 22, 2004 Report Share Posted October 22, 2004 www.mycreditkeeper.com gives great advice as well. Specific to your file.-JT Link to comment Share on other sites More sharing options...
Xanathos Posted October 22, 2004 Report Share Posted October 22, 2004 If you're looking for a boost in credit scores, I outlined the best way to do it "the fast way" on the 4th post of this thread:http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=20207&highlight= Link to comment Share on other sites More sharing options...
edubb007 Posted October 22, 2004 Report Share Posted October 22, 2004 www.mycreditkeeper.com gives great advice as well. Specific to your file.-JTDo you have to pay for credit keeper? I pluged in my PG info and it sent me to PG log-in! It's pretty obvious they are the same peeps but is it included with the $$$ I paid for PG? Link to comment Share on other sites More sharing options...
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