Credit Score Thread

736 Transunion 740 equifax

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i'm 24 with 7 credit cards of which i seldom use 1, and a mortgage that's under a year old.

721 as of yesterday.

709. Got dinged from an unpaid hospital bill that I didn't know about. Paid in full when the collector called.

802

How do you find out this thing?
Is it a US thing? Only ever heard of it on the net.

>>639265
How'd you establish good credit so early on?

>>639273

>Is it a US thing?

yes? By law you get one free report each year

>>639276

you pay off the entire balance each month for starters

>>639279
Or just go to creditkarma , off by 10 points is good enough to make financial decisions on , especially once youre above 700 range

>>639276
i applied for student credit cards as soon as i started college. ended up being rejected by all except for discover. i would then buy parking/gas on the credit card and pay it off in full every month. around 2011 a bunch of credit cards would offer really good incentives for new customers so i kept applying and eventually amassed a bunch of credit cards that i would stop using as soon as i met whatever requirements were needed for the incentives.

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>>639213
You don't get a credit upgrade for having more lines of credit

you get credit upgrades for never missing a payment, and the ratio of money gained (income) vs debt held.

1 credit card here and 797 score. Utilization is a C obviously but if you always buy stuff on it and pay it off in full, its an easy 800 score over time if you never miss payments. Also never missing a payment on large items like houses or cars.

>>639320
+1. I'm locked in to the low 800's because while I have perfect credit, I only have 2 cards.

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>>639320
My intention to get a new card isn't to immediately improve my credit. I'm just wanting a better card than the one I have now.


Also, thanks everyone for the replies. It's been helpful.

Is it easy to get a personal loan for $1000-2000 and then pay it off right away to build credit?

>>639495
Not only is that a bad idea, it wouldn't really help your credit much.

657 for both.

I've only been establishing credit since October. Before that I've never had a credit card or loan in my life, just paid everything with straight cash homey. But I'm getting involved in some business ventures over the next few years and having the ability to get some extra capital would be useful, so I'm trying to build up a little history.

Right now I only have one card but I applied for two more the other day, but it wasn't an instant approval so I'm somewhat concerned. Capital One did give me an Instant Approval last year on their Journey Card, and while the limit sucks, it's better than nothing.

I might apply for their Platinum card but after the first year it's $19 annual fee. I'm just not a fan of annual fees but I'm thinking I could make the cash back back on that.

>>639502
Why?

>>639495

It would probably be better to get a credit card with one of those 0% APR's for a year and then pay it off before the interest kicks in.

>>639508
A closed installment loan doesn't affect your credit score in the same way that an open installment loan or revolving line of credit does. You'd likely be paying fees for no real reason.

Surely mine is 900 because I've never missed a payment on anything.

Might go and order one now (takes weeks in canada)

>>639213
0

I just migrated to USA 3.5 months ago. 1 month in, I asked a bank for a credit card so I can begin to establish credit since it's such a big thing here and the bank said not to bother yet and wait a few months so I have 'some' history of savings which they will use to 'vouch' for me in my application. This is a few days after I wired $30,000 to the account and suggested I could wire if it would help.

Even though I'd bring wads of cash to landlords, they still insisted on doing credit checks. Even though I said it will be 0. They apparently don't think an upfront payment of the entire lease term, plus bond, is worth taking. Ditto to the car rental companies who don't even care that I could outright buy the shitty car I wanted to rent.

Happy ending - I applied online for a CC yesterday and was approved - for $800 limit. I feel like I'm 16 years old again.

>>639538

What company did you use?

>>639547
Chase

They didn't verify a single piece of information I put on the form. My income was a shocking estimate as it's still in a foreign currency, my workplace doesn't exist in USA and my place of residence is my father-in-law's house. The only thing 'real' in the application was my SSN.

Moral of the story if you have no credit and don't know how to start building it:
>Apply for a CC online
>Put down earnings as $100k
>Put down anything for place of employment
>They won't check a thing... even though in my case everything I put down was actually true and I was expecting to have to provide evidence

Shit was too easy

>>639563
Yep, but then if you default they can take you to court and show that you committed fraud.

>>639565
>Defaulting on a CC with an $800 limit
God that would be humiliating. I don't think that's even possible

>>639566
Yeah, but it's just a general statement. People who lie and say they make $100k to get a $20k limit or whatever can find themselves in deep shit.

>>639570
"4chan made me do it"

>>639213

628 at last check. This is a pretty huge step up for me due to being royally fucked over by a relative who convinced me to take out a loan in my name for him as soon as I turned 18 that he never paid back.

25 now and been working my ass off to turn it around from the 300's where it was for a while.

>>639563
There are people who do check and will know. The computer just made a decision. If you're telling the truth then go for it but lying just makes me roll my eyes and be less likely to stretch for you. If you're obviously lying about one thing I can't really trust anything you say. So don't lie to the credit analyst, it just makes my job harder.

>>639617
Like I said in my post, I was actually truthful. What I went on to point out was the fact that none of the information I entered was validated.

The 'analyst' confirmed that I am being sent a CC

Knowing how easy it is, I can see how exposing a SSN can totally fuck up someones life as that's probably the only thing validated by a computer.

>>639524
>Surely mine is 900
/biz/ never fails to disappoint

>fyi, max credit score is 850

>>639631
We're lending based on the credit report more than anything. Just because you make a million dollars a year doesn't guarantee you will pay your credit card off. I see lots of doctors and Lawyers with shit credit. And the credit report shows a lot more info we go by to be sure you're you than a social.

Also we all have access to a secure database that can cross reference your info. We take it as pretty serious business.

775 fico, accessed free from my cc company & experian

590 credit score. Just bought a car the other day too, 15% interest is no bueno. Good thing I can pay it off in a few months.

>>640482
>590 credit score
i am the niggest

>>640505
>i am
i r

>>640505

or I could just lie and say I have a 780 credit score just to posture like the rest of the people in the thread. I have no problem admitting that I was pretty reckless with my finances when I turned 18.

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Come at me.

>>640482
>>640520
>I was pretty reckless
>financing a car
You still are.

>>640656
>Financing
I will pay it off in 3 months anon.

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I'm about $1000 in credit debt to 2 different banks and thanks to my income tax return, I have now the money to pay them off. My credit is shit because I was a fucking idiot when I signed up for credit and didn't know how they worked or how to properly use them. Now that I can pay these off, I should pay them off as soon as possible, right? I just want to make sure to do things right because I don't want my credit to be any more shit than it is.

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Really surprised with this. I figured it would be in the toilet considering all the cell phone bills I never paid.

>>640663
Then you should have just waited and paid cash. Odds are good that you got screwed somewhere in the deal.

>>640666
>didn't know how they worked
So basically, you didn't understand the fact that when purchasing stuff with a credit card, you had to eventually pay it back? I don't understand how people over 10 year of age actually fuck this up.

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>>640684

Lol m8 I work at the dealership I bought it from.

>>639319
>eventually amassed a bunch of credit cards that i would stop using
Did you cancel them at that point, keep using them (just putting a small purchase on them each month), or just hold onto them and not use them at all?

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Ironic.

>>640693
If that isn't just the cutest fucking thing I've ever seen.

>>640656
Log off Dave Ramsey

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I need more LOCs as I only have 8. Any good CCs out there I should look at? I have Amex Skymiles, Discover, Citi, and a Capital One, all at least 1% cash back (except amex).

>>640766
I can browse sites about Cambodian finger-painting if I want to.

This is all from Credit Karma, correct? Also do they tell you what's actually on your credit report or do I have to go somewhere else to find out what's on my report?

>>641380
>do they tell you what's actually on your credit report
You get actual credit reports (Transunion and Equifax).

I was pretty skeptical about Credit Karma due all the old scam sites out there, but if you read the reviews it seems to be 100% legit. I got two credit scores and two full credit reports and I never had to give any credit card or payment information whatsoever. The most damaging thing they ask for is your social, but that's understandable under the circumstances.

>>639596
I almost had this happen to me, but it was a car loan co-signed with my uncle, how much was your loan?

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>3 cards, never a balance
>1 mortgage
>never a late payment
>never a car payment
>credit score meaningless to me except for mortgage borrowing ability

Protip: Don't pay interest on anything besides an appreciating asset.

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>>640545
a contender appears
>>642362

>>641380
You can get a free copy from one of each of the bureau's a year from a website called annual credit report.

It's not a bad idea to check because there are plenty of bullshit medical or insurance or whatever collection accounts that will get posted on there that will hurt your score some amount. You can dispute and make them go away or just figure out what they are.

>>642366
annualcreditreport.com

>>640679
Thats pretty much the toilet dude.

I dont understand why they even rank it this way. 600 is shit tier upper 600 is ok 7 is excellent 8 is outstanding. They dont need the first 500 points

>>642374

You'd be surprised, low 600's is not that bad. I am not saying it's good, but I have seen MUCH, MUCH worse when I worked at a car dealership. The toliet is much lower, I have seen people in the 300's before.

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Not the highest scores on here, but not too bad considering I'm only 24 and have $0 debt and a total combined limit of $19,500.

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FICO Credit Score (via Discover): 764

I have two credit cards and an auto loan.

>>641380
Yes and that's the only thing they it is good for, credit score is not a fico.
If you want a free fico score get a walmart or discover card, I also heard CITI will get that as well but I don't know if that has gone in yet.

>>642409
Yeah, my Citi (DoubleCash) started featuring it recently.

>>642362
>>642409
I had my credit pulled last month for another mortgage (cash out of a paid-off rental property) and CreditKarma.com was within 10 points of the actual scores.

>>641615
I'm trying to get back into credit karma but they said my fucking account was deactivated.

>>642366
>>642373
Yeah, I've heard of that. Been there before too. Need to go there again. Thanks for the reminder.