Credit....

[Feedman]

I have a Providian Credit Card. My ex-g/f signed me up for it...don't ask....

Anyway...I have used it a few times when I buy things online though paypal, makes it easier to pay on it....

One of the features it offers is telling you your credit score...

I found this interesting...


Your FICO credit Score is 724

FICO score last updated on 12/01/2004
Credit Bureau Service:TransUnion

http://www.movfast.com/forums/files/720.gif


Then it proceds to tell me why:

1. The length of time your accounts have been established is relatively short.
This factor is based on the age of the accounts on your credit bureau report (the age of the oldest account, the average age of accounts, or both). Research shows that consumers with longer credit histories have better repayment risk than those with shorter credit histories. Also, consumers who frequently open new accounts have greater repayment risk than those who don't..

[Zerocool_Designs]

nice score, maybe now you can take out that loan for that NSX :wink:

[Feedman]

nice score, maybe now you can take out that loan for that NSX :wink:


Ha ha....I like them...but never was awe inspired by them.....oh well....I was just curious how I ranked agaisn't fellow movFaster's.... 8)

[Davis Silver Sti]

nice score, maybe now you can take out that loan for that NSX :wink:


Ha ha....I like them...but never was awe inspired by them.....oh well....I was just curious how I ranked agaisn't fellow movFaster's.... 8)

Good score.
Getting a credit report is something that you should do just about every year.
You can do many things with good credit...bad credit can make life hard if you later on want to buy a house, wife, car, and beer.

[Kurt_W]

*snip and delete extraneous info*

...buy a _____, wife...

Ah Davis, you have such an eloquent way of talking about marriage ;)

[Feedman]

*snip and delete extraneous info*

[quote="Davis Silver STi":0177e]...buy a _____, wife...

Ah Davis, you have such an eloquent way of talking about marriage ;)[/quote:0177e]


QUOTE!!!!!!! 8)

[Davis Silver Sti]

*snip and delete extraneous info*

[quote="Davis Silver STi":d9659]...buy a _____, wife...

Ah Davis, you have such an eloquent way of talking about marriage ;)


QUOTE!!!!!!! 8)[/quote:d9659]

oh no..!

I was checking to see if anybody would catch that:)
don't tell jenny!

[daveb91]

Where did you get that info Adam I would like to try that and just see for $hits and giggles what mine is. I have had 4 credit cards in my life never had a charge on them for even a month besides the one I got for 0% for a year and then I made the minimum payment until the year was up then paid off the balance. Also three cars that I got a loan for and are paid off, so i guess that sounds good debit card all the way. What also can hurt you is if you have a couple Credit cards you dont use but never canceled the accounts still being opened can count against you.

[RobbieNelson]

Where did you get that info Adam I would like to try that and just see for $hits and giggles what mine is. I have had 4 credit cards in my life never had a charge on them for even a month besides the one I got for 0% for a year and then I made the minimum payment until the year was up then paid off the balance. Also three cars that I got a loan for and are paid off, so i guess that sounds good debit card all the way. What also can hurt you is if you have a couple Credit cards you dont use but never canceled the accounts still being opened can count against you.

A law was passed a few months ago.... the credit agencys have to give you one free credit report per year. There are only three credit agencys in the US(Equifax, Experian, and Trans Union. Experian was formerly known as TRW.) I'm not sure where you go to get the free one, but a little Google goes a long way. They will still try to sell you one, but by law they have to give you one. I think.....

[opens Google]

Yep.... check this out http://www.annualcreditreport.com/

[RobbieNelson]

Yep.... check this out http://www.annualcreditreport.com/

oops... spoke too soon... seems we can't get free reports untill September of this year.

[daveb91]

Wasnt aware of this new found law! 8) 8) 8) 8) 8) 8) 8) 8) 8)

[Feedman]

Yep.... check this out http://www.annualcreditreport.com/

oops... spoke too soon... seems we can't get free reports untill September of this year.


Yea.....free reports will start then. I heard about this a while back @ the vpd....

My credit card offers a look @ you report, but doesn't tell you why.....then they ask you to spend X amount of dollars to see the rest...sort of a tease..... 8)

[Feedman]

Where did you get that info Adam I would like to try that and just see for $hits and giggles what mine is. I have had 4 credit cards in my life never had a charge on them for even a month besides the one I got for 0% for a year and then I made the minimum payment until the year was up then paid off the balance. Also three cars that I got a loan for and are paid off, so i guess that sounds good debit card all the way. What also can hurt you is if you have a couple Credit cards you dont use but never canceled the accounts still being opened can count against you.


When I got my loan for my car...my neighbor/loan officer explained something to me....

Making a regular payment on a credit card each month, does waaay more for your credit than buying something and instanly paying it off....paying each month carries more weight.....there are several different rules, I don't know them all...but I was under the impression that if you bought something and paid it off that was a good thing....not always when it comes to your credit..... 8)