credit score

[WAM]

What is order of priorities to raise credit score?

1.  Total balance posted as $0 before closing date.
2.  Total balance posted as under 30% before closing date.
3.  ??

Does it help to pay down total balance to 50% of credit limit?
How close to credit limit do they consider "maxing out" credit cards? (where it will hurt the credit score)

The priorities for raising credit scores will differ based on what you currently have on your credit report.
If you have nothing derogatory (missed payment, collections, judgments etc.) on your credit report and you're not interested in adding any more credit or credit cards and you have a card reporting at over 50% of it's credit line (I believe maxing out is 90%+), my guess is that getting it below 30% will have the quickest impact on your score. But getting it to 0 (or $1-$2 if it's the only card reporting a balance) should help even more.
But if any of the CB ppl say otherwise, listen to them.

[davidrotts63]

The priorities for raising credit scores will differ based on what you currently have on your credit report.
If you have nothing derogatory (missed payment, collections, judgments etc.) on your credit report and you're not interested in adding any more credit or credit cards and you have a card reporting at over 50% of it's credit line (I believe maxing out is 90%+), my guess is that getting it below 30% will have the quickest impact on your score. But getting it to 0 (or $1-$2 if it's the only card reporting a balance) should help even more.
But if any of the CB ppl say otherwise, listen to them.

The accepted numbers for utilization is to try to get cards under.
100%
90%
50%
These are the key numbers to bring accounts under.

[maylei]

If I have a good credit score and I put my brother in law who doesn't have a good credit score as an authorized user on one of my cards will that boost his score ? And will it have any affect on my score?

[mochjas]

If I have a good credit score and I put my brother in law who doesn't have a good credit score as an authorized user on one of my cards will that boost his score ? And will it have any affect on my score?

1-it depends why he doesn't have a good score and which card you add him to. 2- no

[maylei]

1-it depends why he doesn't have a good score and which card you add him to. 2- no

He doesn't have good credit Bec he has un paid balance that. He is paying off slowly and I have the CSR CFU and basically every type of amex personal card which card would be the best to add him to?

[mochjas]

He doesn't have good credit Bec he has un paid balance that. He is paying off slowly and I have the CSR CFU and basically every type of amex personal card which card would be the best to add him to?

is the unpaid balance past due or current?

[maylei]

is the unpaid balance past due or current?

Its current it's on a credit card bill he gets interest charge every month on the bill but he is paying it off slowly

[mochjas]

Its current it's on a credit card bill he gets interest charge every month on the bill but he is paying it off slowly

its ok to owe money as long as it is less than 33 percent of that credit line.

See here for discussion on which CCs it is best to add him as an AU but again I don't know how much it will help as I do not have the full details.
http://forums.dansdeals.com/index.php?topic=266.4380

[davidrotts63]

its ok to owe money as long as it is less than 33 percent of that credit line.

See here for discussion on which CCs it is best to add him as an AU but again I don't know how much it will help as I do not have the full details.
http://forums.dansdeals.com/index.php?topic=266.4380

It's OK to owe money.
The lower it is, the better it'll be, under 30% is considered a decent number.
As where to be added, most companies are YMMV, aside from Amex which never backdates now, I've had success with Discover, some people reported luck with CITI, and I know many who've have it with Capital One.

[mochjas]

It's OK to owe money.
The lower it is, the better it'll be, under 30% is considered a decent number.
As where to be added, most companies are YMMV, aside from Amex which never backdates now, I've had success with Discover, some people reported luck with CITI, and I know many who've have it with Capital One.

thank you for repeating what I said

[davidrotts63]

thank you for repeating what I said

There were some key differences.
A. 30% isn't a "yay" or "nay" as you implied.
B. It's OK to owe money regardless.
C. I gave some DPs on adding AUs.

But there was a reason I quoted you, as I clarified you.

[ChaimMoskowitz]

Where are all you getting these percentage numbers to stay under?

[davidrotts63]

Where are all you getting these percentage numbers to stay under?

The 30% is most widely accepted. And AFAIK least creditable.
The numbers I'm seeing reported are, 100%, 90%, 50%, 10%.
There are some numbers in between, but AFAIR these are the main ones.

[ChaimMoskowitz]

The 30% is most widely accepted. And AFAIK least creditable.
The numbers I'm seeing reported are, 100%, 90%, 50%, 10%.
There are some numbers in between, but AFAIR these are the main ones.

Seeing where? You don’t think the numbers are credit report dependent?

[davidrotts63]

Seeing where? You don’t think the numbers are credit report dependent?

Seeing online, CB.... What do you mean, "credit report dependent"?

[ChaimMoskowitz]

What do you mean, "credit report dependent"?

That does numbers will be different for everyone.

[davidrotts63]

That does numbers will be different for everyone.

To an extent. If 100% indicates one thing, and 50% another, it'll indicate it to everyone. How much it's effects anything, that is dependent on the rest if the report.

[New Yorker]

What does this mean:

Key Factor(s) Affecting Your FICO® Score:
Number of bank/national revolving accounts with balances
FICO® Scores consider the number of credit card accounts with balances that a person has in their credit report, including balance amounts that appear from the most recent account statements—even if that balance was paid off. Your FICO® Score was impacted because of the number of credit card accounts with balances that you have.

I don't have a large balance on any card, but credit score dropped significantly.

[davidrotts63]

What does this mean:

Key Factor(s) Affecting Your FICO Score:
Number of bank/national revolving accounts with balances
FICO Scores consider the number of credit card accounts with balances that a person has in their credit report, including balance amounts that appear from the most recent account statements—even if that balance was paid off. Your FICO Score was impacted because of the number of credit card accounts with balances that you have.

I don't have a large balance on any card, but credit score dropped significantly.

You didn't increase utilization at all?

[New Yorker]

You didn't increase utilization at all?

No, actually lowered