How does a person get a good credit score?

[fbj]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

 

[DarkFury]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

Owing a lot of money and being able to make the payments.

 

[fbj]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

Owing a lot of money and being able to make the payments.

The minimum payments?

 

[DarkFury]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

Owing a lot of money and being able to make the payments.

The minimum payments?

Yup, they prefer those because they make more.

 

[xband]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

You can have debt but as long as you pay the monthly minimum and interest payment, the debt will not hurt your credit score and in fact raise your credit score. This is how the financial institutions trap you into servitude. Spend less money than you earn and you will never be broke.

 

[fbj]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

You can have debt but as long as you pay the monthly minimum and interest payment, the debt will not hurt your credit score and in fact raise your credit score. This is how the financial institutions trap you into servitude. Spend less money than you earn and you will never be broke.

Well I was able to get a cheap apt in a nice area which will allow me to get out debt by this time next year

 

[DarkFury]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

You can have debt but as long as you pay the monthly minimum and interest payment, the debt will not hurt your credit score and in fact raise your credit score. This is how the financial institutions trap you into servitude. Spend less money than you earn and you will never be broke.

Well I was able to get a cheap apt in a nice area which will allow me to get out debt by this time next year

As you decrease your debt your credit score will go down. And the longer you are debt free it will go down.

 

[xband]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

You can have debt but as long as you pay the monthly minimum and interest payment, the debt will not hurt your credit score and in fact raise your credit score. This is how the financial institutions trap you into servitude. Spend less money than you earn and you will never be broke.

Well I was able to get a cheap apt in a nice area which will allow me to get out debt by this time next year

You have a plan that will work. If I can't pay cash for it, I can't afford it. I have two cash back credit cards that I pay off every month in full. The two credit card companies give me on average $500 a year that is not reported as income to the IRS. While not a lot of money it is better than nothing.

 

[Kat]

As you decrease your debt your credit score will go down. And the longer you are debt free it will go down.

Isn't that amazing how that works?? They have it a$$ backwards IMO

 

[blastoff]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

Having your cable service turned off for nonpayment is a good start.

 

[iamwhatiseem]

Your credit score is basically a measure of two things...
1) Your ability and history of paying debt back.
2) Your willingness to take on debt.

A person who makes $150k a year, has no credit card debt..paid off his/her vehicle early and makes double payments on their home will actually have a lower rating than someone who makes $100k, has $5000 in CC debt and only pays minimums, gets a new car every few years and never pays early or more than payment - and never pays early on mortgage - in fact has a 2nd mortgage. But awlays-always makes payments.

The 2nd person is more desirable by creditors because they use their services more and regulary recharge their debts - thus always paying higher interests.

 

[Likkmee]

I couldn't finance a PopTart. I haven't owed any money or used credit since 1997.

 

[ZackB]

Dude, what everyone is telling you the is that you need more credit cards. Everyone needs at least 7. Run those things right up to the limit and just make the minimum payments on each one. You can get any card you want with a 700 credit score. If you run up you debt then you can probably get anything you want, even a nice house. Hell, banks will give you any mortgage rate you want.

 

[ZackB]

I couldn't finance a PopTart. I haven't owed any money or used credit since 1997.

Me too. I have a mortgage and I usually finance a car when I buy one. Otherwise I just don't use credit.

 

[ZackB]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

What will really raise your credit score are pay day loans and title pawns!

 

[jon_berzerk]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

by being responsible and paying your bills on time

 

[iamwhatiseem]

I have not had any credit cards ever since debit cards came out. I find absolutely no reason to have one/any.
As you get older - unless bad luck has befallen you, you get more financially secure and you carry a certain amount of liquid assets for emergencies and when you want something - you save for it...as well as you have learned over the years that their are better uses for your garage than storing all those "gotta have it's" you forgot about a week after you bought it.

 

[Paulie]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

You can have debt but as long as you pay the monthly minimum and interest payment, the debt will not hurt your credit score and in fact raise your credit score. This is how the financial institutions trap you into servitude. Spend less money than you earn and you will never be broke.

Well I was able to get a cheap apt in a nice area which will allow me to get out debt by this time next year

As you decrease your debt your credit score will go down. And the longer you are debt free it will go down.

That is completely untrue. There's 3 factors that go into your credit score. Your utilization rate of revolving credit, your average age of total accounts, and your payment history on those accounts. Having lower debt does not necessarily decrease your score. If you are utilizing 50% of your available revolving credit and then you pay that debt down to 10%, you will see a boost in your score.

This is why people have bad credit; they don't know jack shit about it.

 

[Paulie]

I have not had any credit cards ever since debit cards came out. I find absolutely no reason to have one/any.
As you get older - unless bad luck has befallen you, you get more financially secure and you carry a certain amount of liquid assets for emergencies and when you want something - you save for it...as well as you have learned over the years that their are better uses for your garage than storing all those "gotta have it's" you forgot about a week after you bought it.

You're letting an opportunity go to waste. You can get a cash back credit card and use it the same way you would make purchases with your debit card, but pay the balance in full before the statement rolls over, and they will actually be paying you to have their card in your wallet. The only reason to be against credit cards is because you don't trust yourself.

 

[rightwinger]

I am trying to figure out why my credit score is high when I am $3500 in debt, close to be over the limit on 2 of the credit cards. SO just can't figure how my credit score is over 700 when I still have a high balance I owe. I was recently approved for the apartment I applied for the next day.

What all determines a good credit score?

They look at the percent of available credit you are using
Negative credit reports
Number of loans you have had
Any bankruptcies