Comments on: Credit Score Went Down A Bit

By: Credit Report Time!!!!! | How I Save Money.net

Credit Report Time!!!!! | How I Save Money.net — Fri, 08 May 2009 12:16:35 +0000

[...] Experian in January and tried to get one today but because I have a credit freeze on my account (due to my identity being compromised in the past) I have to fill out and mail in some additional papers to get my new report from the [...]

By: Link Round-Up: October 17, 2008 | Debt Reduction Formula

Link Round-Up: October 17, 2008 | Debt Reduction Formula — Fri, 17 Oct 2008 16:05:17 +0000

[...] Credit Score Dropped – LuluGal says here credit score dropped recently because of a balance transfer. The amount of debt didn’t change; she simply put it on one zero-interest card. Credit scores sure are fickle, aren’t they? [...]

By: LuLuGal

LuLuGal — Thu, 16 Oct 2008 01:44:26 +0000

Oh Shawn

By: LuLuGal

LuLuGal — Thu, 16 Oct 2008 01:41:14 +0000

Hooray Jagular is back.

On another note…since your roommate is CASH tell him/her to come ‘pay’ me a visit.

By: Jagular

Jagular — Wed, 15 Oct 2008 22:14:31 +0000

I did the same thing a while back and mine went from 740 to 686. Not a big deal though, because I am living with CASH.

By: Striker777

Striker777 — Wed, 15 Oct 2008 03:30:43 +0000

What???? How dare you attempt to keep money from The ALL-MIGHTY-FICO and keep it for yourself! I cast yea down to the live among the 686ers!

By: Shawn Knight

Shawn Knight — Wed, 15 Oct 2008 02:30:42 +0000

Yay for my new title

30% of your FICO score is based on the amount you currently owe lenders. If that amount drops significantly (aka, you pay off all your debt), your credit score is going to drop like a rock. How do you prevent that? There is only one way… get more debt.

It really is a terribly flawed system if you think about it. The FICO score is an “I Love Debt” score. Why would you want to go into debt so you have the opportunity to go further into debt?

Debt is dumb, cash is king!

By: nobrainerdeals

nobrainerdeals — Wed, 15 Oct 2008 00:30:06 +0000

Yea, I totally agree. Thanks again.

By: LuLuGal

LuLuGal — Tue, 14 Oct 2008 22:23:03 +0000

Yes…they only give ONE score…but hey one for free is better than nothing right?

By: nobrainerdeals

nobrainerdeals — Tue, 14 Oct 2008 22:20:59 +0000

Thanks for the info. I will definitely check out CreditKarma. It looks that they offer free credit scores and I see they pay for it with their partners. Pretty cool idea.

By: LuLuGal

LuLuGal — Tue, 14 Oct 2008 11:35:55 +0000

@ NoBrainerDeals,
I am using CreditKarma to check my score. It is FREE!!!!!!!!!!!!!!

I also have a credit card that I got from Juniper that gives you a free score so I am not paying for a credit monitoring service.

I know that American Express has a service that is $14.99 per month if you have a card with them as well.

@ Shawn/Credit Hater
I am not going to rack up more debt to ‘improve’ the score. How will owing more improve my score? That messes up the utilization so it will only bring the score down buddy.

By: Shawn Knight

Shawn Knight — Tue, 14 Oct 2008 06:25:28 +0000

Rut-ro, time to accumulate more debt to improve that score lol

By: nobrainerdeals

nobrainerdeals — Tue, 14 Oct 2008 03:22:41 +0000

I am curious how much do you pay for your monthly credit monitoring service? I have been considering it but finding the pricing to be a little steep.

By: Anna

Anna — Mon, 13 Oct 2008 20:57:24 +0000

I agree, fixing a credit score takes time, but it sounds like you are doing the right thing by having an alert each time it changes.

By: John

John — Mon, 13 Oct 2008 18:37:24 +0000

I recently have had some credit problems. I liked my credit cards waaay too much. I think the best thing you can do to recover is to allow yourself enough time to straighten everything all out. Nothing happens overnight, especially fixing a credit score.