dolly blaine
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your credit score is excelent. Following 5 not to miss things for a good credit score
1. Use the credit card only when absolutely essential. Pay your regular expenses by cash or a debit card. This will help you budget and not go overboard with credit card debt.
2. Follow repayment schedules like religion. Don't miss out and invite late payment fees, increased APR rates and blocked reward programs.
3. Don't stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest. read more from: http://www.credit-card-gallery.com/article/264,5_not_to_miss_things_for_a_good_credit_score |
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magnolia
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At your age, that's excellent. Keep up the good work. |
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Crazy cat lady >^ ^<
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yes that's good now the key point..NEVER let ANYONE talk you into co-signing anything NO matter how much that person claims they love you or how good of Friends you are never never.. what takes a life time to build only takes 30 days to ruin trust me. |
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joyceeleann
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yes it is.. you can not go any higher than 850.. |
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CREDIT ANALYST
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Congratulations - I am happy for you. Most people don't have a credit score of 711 at the age of 19. A score of 711 is considered very good and you shouldn't have any problem being approved for a loan (even with no documentation).
However, I think you should be more concerned about retaining or even improving on the score. Please continue to pay your bills on time and resist the temptation of acquiring more credit cards. I am sure credit card companies must have been calling and even writing you to consider their pre-approval letters. Please ignore those letters (and if you choose to add one more credit card), ensure that your balance is below 30%. This is because a higher debt ratio would hurt your score - and I am sure you don't want that to happen to you - neither do I.
Best wishes!
Derrick |
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tilishabingo
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That is very good, now find out what is your other two scores on your other two credit reports. If you have a job, you could get a credit card from American Express, thats just how good your score is. |
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thumper
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i wished mine was that good the national average is 650 so your above average.. hang on to it and guard it cause it can fall fast .. second because your young you don't have a history so it may be still hard to get credit for some things . car no problem credit cards no problem . house. problem yes but it not so much you as it is the times watch the news lot of credit lender problems.. |
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Juliet
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I want your credit score!! Congrats!! Yes 711 is a good number keep it that way dont EVER get carried away with you credit card you will regret it!!! Make sure that you keep in mind that whatever you charge isnt really paid for until you pay it off!!! Hope my I answered your question and once again Congrats!! |
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Cindy
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You have a great score right now, but you don't want to charge more than 50% of the available blance on your credit cards and you do not want more than 3 credit cards. Keep those balances below 50%. |
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John
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That is not only good but excellent. you can get some good credit cards with low apr and some reward programs and then buy the necessary things with this card and pay the bills on time. You can also try some reward cards they are good. All these will make your credit good.
To know more you can visit
http://www.creditcardbiz.blogspot.com |
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SPIFIMAN1
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Yes as far as score alone goes, it's very good.
Now for the rest of the story.
Credit scores are based on the following;
1. Payment history 35%
2. Time in bureau 15%
3. Types of credit 10%
4. New credit 10%
5. Debt to credit ratio 30%
As you can see 1,2&5 are the most inportant as far as score goes. But you need more then that, you need a great profile to go with that great score.
This is done by having 3 credit card accounts (revolving) with less then 30% balances and 2 cars, homes, boats, furniture or personal accounts (installment) all with good long pay history's.
You are well on your way as far as the revolving accounts are concerned. Keep up the good work and you can start on your installment accounts.
Soon you will have both a great score and profile. This will allow you to get just about any loan you will need in the future at the best rates. |
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