Author Topic: My credit score  (Read 1910 times)

FiguringItOut

  • Pencil Stache
  • ****
  • Posts: 774
  • Location: NYC
My credit score
« on: February 28, 2015, 04:09:06 PM »
just went up.

It was 787 exactly a year ago on 8/28/14
Then it was 796 on 8/26/14
And I just checked it today on CreditKarma and it is 820 from TransUnion and 823 from Equafax.

The only thing I did between last February and now is start using my old credit cards which I haven't used in few years prior and also in December 2014 I got two of the reward credit cards as well and used those in the last two months.

Checked today to make sure I got my 100,000 miles from AAdvantage/DividendMiles and I'm all set.  Two more cards and I will be taking my kids to Europe sometime in the fall.


kpd905

  • Handlebar Stache
  • *****
  • Posts: 1828
Re: My credit score
« Reply #1 on: February 28, 2015, 04:12:31 PM »
The two new cards will increase your credit line to help lower your utilization, so that will usually help.

FiguringItOut

  • Pencil Stache
  • ****
  • Posts: 774
  • Location: NYC
Re: My credit score
« Reply #2 on: February 28, 2015, 04:25:26 PM »
The two new cards will increase your credit line to help lower your utilization, so that will usually help.

It's showing my utilization at zero.  I do pay my cards at least twice per month, but I though some balance would show up at some point.

Oh well, I'm not complaining.

kpd905

  • Handlebar Stache
  • *****
  • Posts: 1828
Re: My credit score
« Reply #3 on: February 28, 2015, 04:45:56 PM »
Utilization is often calculated when your statement posts.  If you have a zero balance when that happens, you'll show zero utilization.  If that is happening, your score isn't going to increase as much as it could.  Leave at least some balance for when the statement posts.

Otherwise, if the balance is being reported at a different time, you would benefit from stopping the twice monthly payments.
« Last Edit: February 28, 2015, 04:53:38 PM by kpd905 »

Retired To Win

  • Handlebar Stache
  • *****
  • Posts: 1494
  • Age: 72
  • Location: Virginia
  • making the most of my time and my money
    • Retired To Win
Re: My credit score
« Reply #4 on: February 28, 2015, 05:06:42 PM »
... The only thing I did between last February and now is start using my old credit cards which I haven't used in few years prior and also in December 2014 I got two of the reward credit cards as well and used those in the last two months...


I keep my (26) credit cards in a business card organizer in alphabetical order.  This allows me to rotate the cards sequentially in and out of my wallet monthly so that each gets used at least once a year (probably more).  That keeps the cards active and their credit limits in place.  Otherwise, the issuing company is likely to (a) want to charge an annual fee, (b) cancel the card, or (c) lower the card's credit limit (and that would affect my utilization adversely).