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Good or Bad: How am I affecting my scores?


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Last June, I consolidated student loans (6 loans into 1) thinking I was doing the right thing...score dropped as I had history on the 6 separate ones (all listed as installments) and now one installment with less history. Was this a mistake? Did it to get the payment under control.

Sears store card...established in 1998...limit $5,000, bal owed less than $500. Sears converted me to a Mastercard, and raised my limit to $6,000. Will this be shown by CRA's as a NEW tradeline, with no history?

Lots of small store cards and CC's, with low limits with 0 balances. Should I consider closing them out, or at least some of them? Or should these be left open as they have long histories of OT payments?

I have good payment history...should I do anything?

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Have you pulled your scores on MyFico.com?

On the student loan consolidation, one new loan is worse than 6 established loans. However, if all were current, then the ding to your score should have been minimal.

The Sears/MC conversion should retain the '98 open date.

1 card with a $2000 limit is better than 2 cards with a $1000 limit each--even if the balance carried is $0

My Newbie Primer, although you seem like you're ahead of the curve.


Couple of threads on credit scores.





MyFico.com has a FICO Score Simulator you can use to determine ways to raise your score. You can use if you sign up for a free 30 day trial of ScoreWatch.

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I've been monitoring my credit for several months now. Have been reading a while, but just not posting! =) My name is Joan and you will be seeing me around a lot! I have learned so much from this board!

Trying to get over 700...was at 691 when I consolidated...all was current. I lost 40 points in that consolidation ARG! But this was in June, and it's climbed back up to 677 already. These were all considered independently in my report...each with different lengths of payment history because they were taken at different times. Only 2 were over 2 years old...which hurt, I think more than the older ones.

I have a WAMU/Providian card which gives me scores monthly. I know they aren't true scores but it is something to work with. When I saw the sudden drop, I signed up for TrueCredit. Now I am watching everything...almost obsessive over it. I've got to slow down!

I haven't done away with the "little" cards as they are older than dirt, and shows long time credit history. (some as far back as 1992), charge on them occasionally, then pay them back off so they won't go "inactive". I will, on occasion, request a balance increase, justt trying to get them over $1000. Sometimes they grant it, oftentimes, they don't. They don't seem as eager to raise your limit if you don't have them maxed out.

Thanks for the response!


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