Author Topic: How to improve my credit history.  (Read 1045 times)

Online davidrotts63

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Re: How to improve my credit history.
« Reply #15 on: March 11, 2018, 11:17:01 PM »
Prepaid cell phone ? Do they have your social Security?
Yes. No. If I can have them report it, what would it report as, and would it be beneficial?
I'll tell you later

Offline Freecountry

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Re: How to improve my credit history.
« Reply #16 on: March 11, 2018, 11:19:01 PM »
I have a relatively thin file. Mostly young credit cards.
that is not what a "thin credit file " means. A thin credit file means that the credit bureau doesn't have a enough information to generate a CS.

Online davidrotts63

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Re: How to improve my credit history.
« Reply #17 on: March 11, 2018, 11:20:04 PM »
that is not what a "thin credit file " means. A thin credit file means that the credit bureau doesn't have a enough information to generate a CS.
I didn't write thin, I said relatively thin. I guess not by CB terms, just in general.
ETA: Google indicates that even with a few credit accounts can still be a thin file.
« Last Edit: March 11, 2018, 11:30:02 PM by davidrotts63 »
I'll tell you later

Online davidrotts63

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Re: How to improve my credit history.
« Reply #18 on: March 11, 2018, 11:23:53 PM »
Positive Negative?

:)
?
( @mmgfarb I deeply apologize for using the word negative 😊)
I'll tell you later

Offline Freecountry

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Re: How to improve my credit history.
« Reply #19 on: March 11, 2018, 11:33:23 PM »
I didn't write thin, I said relatively thin. I guess not by CB terms, just in general.
ETA: Google indicates that even with a few credit accounts can still be a thin file.
here's from credit karma
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.creditkarma.com/credit-cards/i/what-does-it-mean-if-i-have-a-thin-file/amp/&ved=2ahUKEwjZ5sDV7OXZAhVJON8KHTfCAt8QFjAAegQICBAB&usg=AOvVaw3h7jtgnnoJUYv2OAAMlvZL&ampcf=1

Offline Freecountry

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Re: How to improve my credit history.
« Reply #20 on: March 11, 2018, 11:38:27 PM »
I didn't write thin, I said relatively thin. I guess not by CB terms, just in general.
ETA: Google indicates that even with a few credit accounts can still be a thin file.
what I was trying to tell you was that once you have a credit file and a CS then it is the five key factors that matter. Payments on time, total accounts, utilization, inquiries and credit length. Based on that I was saying that the CB's care more about AAOA than of total and mixed accounts

Online davidrotts63

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Re: How to improve my credit history.
« Reply #21 on: March 12, 2018, 02:29:37 AM »
what I was trying to tell you was that once you have a credit file and a CS then it is the five key factors that matter. Payments on time, total accounts, utilization, inquiries and credit length. Based on that I was saying that the CB's care more about AAOA than of total and mixed accounts

All payments by me are on time.
I have a decent amount of accounts. - all revolving.
Extremely low utilization.
I have many inquiries . High- but not too high.
And quite a young AAOA.
What the CB care for is irrelevant, it's the banks who have a say, they always want a mix, more specifically some sort if installment loan.
So although at the moment a new account may reduce my AAOA(truthfully not by much), in the long run it'll give a mix, and show an installment loan. Again, I'm not looking for a CS quick fix, my score is great at the moment (EX FICO 750, including my recent dip for multiple new accounts and inquiries), and I know it'll take a dip if I take out a loan, but for my file it'll be great, and even for my score in the long run.
So with PayPal out of the question, I know have 2 questions.
1. Should I be an installment loan, or what else should it be?
2. Assuming an installment loan is the way to go, how should I go about that?
« Last Edit: March 12, 2018, 02:33:41 AM by davidrotts63 »
I'll tell you later

Offline yitrap

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Re: How to improve my credit history.
« Reply #22 on: March 12, 2018, 05:39:31 PM »
Looked into Alliant?

Offline mmgfarb

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Re: How to improve my credit history.
« Reply #23 on: March 12, 2018, 05:44:22 PM »
Looked into Alliant?
Alliant discontinued their secured loan option a few months ago.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline mmgfarb

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Re: How to improve my credit history.
« Reply #24 on: March 12, 2018, 05:45:15 PM »
All payments by me are on time.
I have a decent amount of accounts. - all revolving.
Extremely low utilization.
I have many inquiries . High- but not too high.
And quite a young AAOA.
What the CB care for is irrelevant, it's the banks who have a say, they always want a mix, more specifically some sort if installment loan.
So although at the moment a new account may reduce my AAOA(truthfully not by much), in the long run it'll give a mix, and show an installment loan. Again, I'm not looking for a CS quick fix, my score is great at the moment (EX FICO 750, including my recent dip for multiple new accounts and inquiries), and I know it'll take a dip if I take out a loan, but for my file it'll be great, and even for my score in the long run.
So with PayPal out of the question, I know have 2 questions.
1. Should I be an installment loan, or what else should it be?
2. Assuming an installment loan is the way to go, how should I go about that?
Read this: https://www.doctorofcredit.com/strengthen-credit-installment-loan-using-secured-loan-technique/
And these:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secure-technique/td-p/4506756
http://ficoforums.myfico.com/t5/General-Credit-Topics/The-Quest-for-an-SSL-alternative-to-Alliant/td-p/5162448
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy


Online davidrotts63

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Re: How to improve my credit history.
« Reply #26 on: March 13, 2018, 08:45:44 PM »
Anyone know anything about the Alliant Unsecured loan?
Or a link to a comprehensive review of how it would benefit me, and what options would be best?
@PillanSmye.....
I'll tell you later

Offline Abey

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Re: How to improve my credit history.
« Reply #27 on: March 13, 2018, 10:05:12 PM »
Anyone know anything about the Alliant Unsecured loan?
Or a link to a comprehensive review of how it would benefit me, and what options would be best?
@PillanSmye.....
Doc wrote it wouldn’t be available in 2018.
Is it still available?

Online davidrotts63

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Re: How to improve my credit history.
« Reply #28 on: March 13, 2018, 10:33:57 PM »
Doc wrote it wouldn’t be available in 2018.
Is it still available?
I'm talking about the unsecured version, if the secured one was around, I would have never started this thread
I'll tell you later

Offline PillanSmye

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Re: How to improve my credit history.
« Reply #29 on: March 17, 2018, 06:35:26 PM »
Anyone know anything about the Alliant Unsecured loan?
Or a link to a comprehensive review of how it would benefit me, and what options would be best?
@PillanSmye.....

If you can find an unsecured loan with no origination fees and no INQs that lets you pay down 98% at once and pushes the payments out 4 1/2 years go for it. 

The deal with Alliant was you'd have like $40 balance left that you were paying 5% on so it was like $2/year in interest.