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Does anybody on here understand credit scores?

i was talking to an at&t rep earlier and thought id check my credit for cell phones, well the deposits are higher now.weve been paying on our debts.my dh works hard.were doing what we can,have any idea?

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luckygirl2000

Asked by luckygirl2000 at 5:50 PM on Jun. 21, 2011 in Money & Work

Level 16 (2,387 Credits)
Answers (6)
  • Credit scores are funny. First, run one on yourself and see if there is anything on there that doesn't belong to you. If there is, then call the company and report it. Start paying off your smaller debts. Be aware that your credit score may drop as you do that, but it's temporary. Make sure anything you have now is paid within the 30 days because otherwise you can be reported and it is slow credit. Cancel any cards that you can because your debt to income ratio can be effected.
    attap5

    Answer by attap5 at 5:53 PM on Jun. 21, 2011

  • thanks girlie, :)
    luckygirl2000

    Comment by luckygirl2000 (original poster) at 5:55 PM on Jun. 21, 2011

  • Credit is hard...you have to have credit availabe to you and use like 15% of it....make sure you keep paying things on time..if you see you cant, CALL BEFORE hand!! And keep in mind before you get discouraged, it ismuch easier and faster to DESTROY your credit than repair it...And I found out today that diferent companies use different programs to calculate your score..so just because it says Experien, your experien score could be diffrent some where else!!! :) There are actually quite a few free resources online!! GL
    sweetstkissez22

    Answer by sweetstkissez22 at 6:48 PM on Jun. 21, 2011

  • tasches

    Answer by tasches at 6:50 PM on Jun. 21, 2011

  • You can get your free once a year credit report at Experian, Transunion, and Equifax websites. These are the three credit reporting agencies. Look the report over carefully as suggested earlier and write a letter to correct any errors. You want to always pay bills regularly and do not take on more debt than reasonable
    whitepeppers

    Answer by whitepeppers at 7:04 PM on Jun. 21, 2011

  • Here's basically how it works. The more debts you have versus open, active credit lines, the lower your credit score will be.
    Example: Let's say you have 10 occurences of medical collections. If you have zero outgoing credit lines, you will have a very low score.
    If, however, you have 2 open, paid on time credit lines (credit card, loan of some type), that will balance out the collections.
    Fawn80

    Answer by Fawn80 at 3:58 PM on Jun. 22, 2011

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