Good Credit Score Number

I’ve had established credit for a good number of years now, and over the years I’ve learned things I wish I had known in the beginning. To make this a question, and to be able to share it with this new younger credit generation, what are your positive credit (credit cards, savings, etc.) tips that you have found that have worked for you to keep debt down, and keep a good credit score ?? I’ll name a couple and everyone else please add on so we can help new ones to this crazy credit card game.
don’t open too many cards at once.

Watch getting those Department store credit cards, as their interest rates are generally VERY high.

Always pay more than the minimum payment.

Overall I know I have very good credit. I am 22 years old, make about $30,000/40,000 annually and I have 2 store credit cards with no balance, a Mastercard which i use frequently but pay off each month and usually only use about 300 of the $1200 limit. I also have an old Visa card which I have not used in about 3 years. I have no student loans and I was approved for a lease on a 2009 Ford Edge last May under only my name.

I just opened an American Express card because I know they are good about giving large credit limits and work internationally, as I am about to travel outside the country for the first time.

I am worried that having all of these open accounts (even with no revolving balances) will hurt my credit. Is this possible?

Whenever I use these accounts I pay them off immediately, before the bill is even due, as i hate having outstanding balances. But I am still worried about having so many cards.

You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – buildcredit.ifastnet.com

My score’s 597! (good or bad?) Ive been wanting to start my credit but i just don’t know how to. now what does my score means? is that too low or is it ok? How can i start my credit? (btw. i got my score from freecreditreport.com)

That is a really good score.

i’m looking for a number or number range pleeease

I think that if your score is lower than 600, it might be a problem. if it is lower than 525 or so, it might be really difficult.

650 and above I can’t imagine anyone questioning it.

MyFico keeps asking me if I want an updated credit score but I had already paid for the score on 6/27 giving me 30 days to view it. Do I have to pay again within that 30 days to see if my score has changed? I recently disputed some information and I’ve received letters from the credit bureaus but when I look at the reports online there doesn’t seem to be any change.

Thanks in advance!

The answer is yes. What they mean by it’s good for 30 days is your credit report and current score are available for your viewing for 30 days. To get an updated score you will have to pay again.

Good Luck with your credit!

I am 22 with an even 700 credit score. I have a car loan, and lots of student loans under my name. I have a full balances on a 3 credit cards. I do pay everything on time, but I thought 700 was fairly good. I thought having so much debt would hurt me hard?

700 is a very good score for someone 22. Keep making payments on time and your score can only get better.

I have 2 credit accounts in bad standing, and 1 credit account in a very good standing. Would my fico score improve if i added 2 more credit accounts and keep them in good standing? (that would make it 3 good ones, and 2 bad ones)

Yes. It’ll improve because you have more accounts that are good, you have a higher ratio of good accounts vs. bad accounts, and you have deeper credit history in terms of number of accounts.

I am 22 with an even 700 credit score. I have a car loan, and lots of student loans under my name. I have a full balances on a 3 credit cards. I do pay everything on time, but I thought 700 was fairly good. I thought having so much debt would hurt me hard?

It depends. If that 700 is a FICO score, its good. If it’s a Vantage score, it’s not so good.

The Equifax site gives FICO scores. You can also get FICO scores for TransUnion and Equifax at MyFico.com. Consumers can no longer get FICO scores for Experian. The TransUnion and Experian sites use Vantage (scale to 990 vs FICO’s 850). Third party monitoring services use Fakko scores.

Paying on time is the most important thing. Having a lot of debt may not really negatively impact your score. Of course, carry balances on credit cards is not good, especially if you have them maxed out. Carrying balances of more than 30% of your limit hurts your score. Pay off the balances and your FICO score gets an immediate boost.

Median FICO score is 723. Scores over 740 are considered excellent and get the best interest rates.

I currently attend college and live with my parents. My parents started to care about their credit score too late. I need credit cards to buy clothes and college materials. I don’t have credit at all since I just turned 18. My parents credit limit is too low and they can barely pay off their own credit debt. HOW CAN I ACQUIRE A CREDIT CARD WITH A GOOD INTEREST RATE AND HIGH CREDIT LIMIT WITHOUT HAVING TO USE MY PARENTS CREDIT. I have tried to acquire a credit card with their social security number but they allow low credit limit. How do I start a credit history without having to use anyone else or their credit.( I currently started working)

Try applying with American Express. Your first card will require you to pay the balance at the end of each month. I know this is not what you want, but listen to me for a minute…..Once you have done this for around six months, they will offer you a revolving credit line, that you don’t have to pay the total each month…The limit will start out low, say around $250, but every six months they will increase it if you make your payments on time, bounce no checks sent to them and pay more than minimum required payment…..This is how you begin, after a year with them, apply for a second Major credit card, not a store card….Do not be hasty, just because a company sends you a preapproval card, look at the interest rate, (don’t pay anything more the 12%. Don’t accept any card that requires you to pay a yearly fee, and watch out for hidden costs, like for late payment you get charged so much and then your interest rate goes sky high…..Stay away from these…….No one needs more than two major credit cards…….There is such a thing as too much credit and that can look really bad as well…….Often times we think we need things that we really don’t… Exam your motives before you shop……Material things will not make you happy, but some are necessary…….