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Credit Score

mookeywrenchmookeywrench Posts: 5,870
edited March 2011 in All Encompassing Trip
So paying off my car and some students loans made my score drop....aint that some shit.

Anyway, I'm trying to boost it back to an A rating (7 points shy). Should I open up a new credit card(i only have ever had one)?
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Post edited by Unknown User on

Comments

  • Go BeaversGo Beavers Posts: 8,971
    Maybe upping the limit on the card you have and paying off the balance you have currently, if you haven't already, would help. I don't know if getting an additional card would help.
  • arqarq Posts: 8,012
    mookeywrench wrote:
    So paying off my car and some students loans made my score drop....aint that some shit.

    Anyway, I'm trying to boost it back to an A rating (7 points shy). Should I open up a new credit card(i only have ever had one)?

    from what I've read, will credit remains low when you owe %30 or more the total debt, if your CC has a limit of $1000 and you owe $300 your credit score will be above 700 but is if you owe $500 your credi score will go under 700, if you have a long history of paying on time, and not increasing your debt well the score will grow surely but slowly...

    Also any new CC will lower your score for a couple of months... :crazy:

    All this is just witchcraft!
    "The good thing about science is that it's true whether or not you believe in it"
    Neil deGrasse Tyson

    Why not (V) (°,,,,°) (V) ?
  • 8181 Posts: 58,276
    credit scores are a bunch of bull shit
    81 is now off the air

    Off_Air.jpg
  • mookeywrenchmookeywrench Posts: 5,870
    Go Beavers wrote:
    Maybe upping the limit on the card you have and paying off the balance you have currently, if you haven't already, would help. I don't know if getting an additional card would help.

    I pay it off in full every month. Sounds like I should try to up my limit.
    350x700px-LL-d2f49cb4_vinyl-needle-scu-e1356666258495.jpeg
  • MayDay10MayDay10 Posts: 11,680
    same thing happened to me awhile back. I happily paid everything off, checked my score and it dipped.


    every time you apply for a cc it dips when they inquire into your history. I would up the limit unless you are in the market for a new card
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