Chula Vista

Found this out recently regarding revolving credit (credit cards other than American Express). Credit agencies give you a nice bump if your revolving debt is less than 30% of your credit limit.

I have two Visa cards with a total credit limit of $21,500. After selling the house I paid them both down quite a bit. I currently owe $4,547 on them which is 21% of my credit limit.

My Fico score went up almost 40 points just by getting below 30%!

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“The fact that we live at the bottom of a deep gravity well,
on the surface of a gas covered planet going around a nuclear fireball 90 million miles away
and think this to be normal is obviously some indication of how skewed our perspective tends to be.”

Trollheart

Sorry man, but if I hadn't seen it was you who started this thread I would have thought "SPAM!" right away....

A better way to improve your credit score:

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Trollheart: Signature-free since April 2018

Frownland

If you have a lot of debts and aren't sure about how to pay them down fast: https://www.daveramsey.com/blog/get-...-snowball-plan

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Studies show that when a given norm is changed in the face of the unchanging, the remaining contradictions will parallel the truth.

The Batlord

I think Fight Club had this covered.

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OccultHawk

You don’t you just pay them off completely?

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Behold the Writing of THE LEGEND:

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Chula Vista

Actually it's better to have some debt and pay it off monthly, on time. Weird but true. Never being late on a payment is a huge factor in your credit rating.

__________________

“The fact that we live at the bottom of a deep gravity well,
on the surface of a gas covered planet going around a nuclear fireball 90 million miles away
and think this to be normal is obviously some indication of how skewed our perspective tends to be.”

The Batlord

Not weird that capitalism rewards you for being subservient.

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Frownland

You should already have a pretty lengthy history of that with your mortgage payments and previous payments. Paying them down but keeping them open so that you have a few credit lines open will accomplish the same thing and similarly decrease your DTI.

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Studies show that when a given norm is changed in the face of the unchanging, the remaining contradictions will parallel the truth.

Chula Vista

You sign up for a card and agree to the terms. They let you spend money you don't have. You just have to pay them back on time. Pretty simple actually.

Stop using big words. It doesn't suit you.

__________________

“The fact that we live at the bottom of a deep gravity well,
on the surface of a gas covered planet going around a nuclear fireball 90 million miles away
and think this to be normal is obviously some indication of how skewed our perspective tends to be.”

OccultHawk

At this point why pay interest on money that should be earning interest?

__________________

2016 2017 2018 2019 2020

Member of the Year & Journal of the Year Champion

Behold the Writing of THE LEGEND:

https://www.musicbanter.com/members-...p-lighter.html