credit score

[Jacobos]

Paid everything on time

[Jacobos]

Had a high balance?

Ye had a 4500 $ bal on a 6k credit line

[DMYD]

Ye had a 4500 $ bal on a 6k credit line

Got your answer, not good to have more then 30% of usage

[Jacobos]

Got your answer, not good to have more then 30% of usage

But is that reason for such a big drop??

[David Smith]

But is that reason for such a big drop??

2 inquiries + 2 new accounts + a card with 75% utilization can easily do that.

[newdealseeker]

I just checked my credit report.
Is it good or not that it also lists all the accounts where I'm authorized user/spouse's card?

[David Smith]

I just checked my credit report.
Is it good or not that it also lists all the accounts where I'm authorized user/spouse's card?

Depends on your profile and your spouses. If you want to know if it's normal, it certainly is.

[Jacobos]

2 inquiries + 2 new accounts + a card with 75% utilization can easily do that.
[/quote
How long should it take to get back to normal??

[D93]

Got your answer, not good to have more then 30% of usage

"30%" - where you get that number from?

[newdealseeker]

Depends on your profile and your spouses. If you want to know if it's normal, it certainly is.

Both profiles are very similar. Though if one account by each of us is slightly messed up, say carried a larger than usual balance one month as opposed to paying before statement closes, does it affect the score negatively twice on a mortgage check where both of our reports are checked? Or if it's there it's there regardless even if only by one of us?

[WAM]

How long should it take to get back to normal??

Sometimes the month after it's paid off, sometimes longer, it was discussed above by Mendelssohn

[rysher]

"30%" - where you get that number from?

a few pages back

[Mendelssohn]

30% doesn't mean anything.  The major utilization tiers are 90 (considered maxed out), 70, 50, 30 and 10.

Between $1 to 10% varies greatly based on profile.

[David Smith]

30% doesn't mean anything.  The major utilization tiers are 90 (considered maxed out), 70, 50, 30 and 10.

Between $1 to 10% varies greatly based on profile.

Is there really a significant difference to any profile between different amounts <1%?

[Mendelssohn]

Is there really a significant difference to any profile between different amounts <1%?

The people that gain the most from the $2 trick are those with clean reports, thin files and young files.

The thicker your file and more history you have, the less you gain.

[ya]

do they pull your lexis nexus report when you apply for a mortgage?

[Sport]

What score is considered "superior credit" in regards to auto loans ?

[PillanSmye]

What score is considered "superior credit" in regards to auto loans ?

DCU uses FICO 04, but with a 690 I believe they'll give you  their best rates.

Other companies are going to require 720, 740 and up for tier 1 terms.

[Sport]

DCU uses FICO 04, but with a 690 I believe they'll give you  their best rates.

Other companies are going to require 720, 740 and up for tier 1 terms.

Thanks, was looking at DCU. I should be fine then.

[PillanSmye]

Thanks, was looking at DCU. I should be fine then.

DCU is EQ FICO 04.  So the whole $2 trick is extremely important.  I mean, if have an 800, maybe not.  But FICO 04 is extremely sensitive to utilization/number of cards with balances.