Re: Low FICO Score but no Debt - Where Can I Build My Credit?

Posted by LadynRed (199.91.33.254) on November 20, 2003 at 14:11:42:

In Reply to: Re: Low FICO Score but no Debt - Where Can I Build My Credit? posted by HP2025 on November 19, 2003 at 13:13:59:

E - You have 2 cards. Lets say your combined credit limits = $1000. Now, if you're carrying total balance of $250, then your utilization is at 25%. If your total balance is $500, then you're at 50% utilization. The higher you go above 25% utilization, the lower your score is going to go.

The problem I see with what you've listed is the collection and charge-offs. Even though they're paid, 'paid collection' and 'paid charge-off' are NEGATIVE ENTRIES and will drive your score down. Same with the Student loan if the delinquencies are noted on your report. Any lates you've ever had will also drop your scores.

So, even though you NOW have no debt, these old baddies are pulling your scores down.

You should try disputing the negatives, you might be able to get them off, then you'll see your scores rise.

Head over to www.creditboards.com and learn how to start. CHOD is upon us, its a great time for disputes with the credit bureaus.

CHOD= credit holiday onslaught of disputes

Follow Ups:

Post a Followup