All Questions
Tagged with fico-score credit-card
15 questions
1
vote
2
answers
191
views
Will using 0% intro APR crashes my credit score?
If I get a new credit card with $5000 credit line and 0% intro APR for the first year, and use all the credit limit at the beginning, will this drops my credit score?
If I pay back this money like $...
user109157
0
votes
3
answers
192
views
How will having two active credit accounts with different balances affect my monthly credit scores?
I heard that with the new FICO model, they want you to spend ten percent or less of your credit limit to keep your scores from dropping.
I recently applied for a second credit card, one with four ...
0
votes
2
answers
238
views
How badly is one's credit score affected if one stops paying one card but keep paying others?
I am in a very tight situation and I am wondering how the FICO score behaves if I stop paying 2 cards out of 4. How badly would it go down and how badly would it affect applying for loans at different ...
1
vote
1
answer
125
views
Affect of Credit card Utilization rate on Credit scores (for Balance Transfer)
Scenario 1:
Two Credit cards have 50% utilization rate each
Interest savings are moderate
Convenience factor - medium
Scenario 2:
One card has 90% utilization rate.
Interest savings are higher as ...
- 582
0
votes
1
answer
45
views
FICO score reporting variation
Why FICO score vary between credit companies?
I have two credit cards and each lender is proving me with a different score, there is a difference of 5 points, not that big difference, but what is the ...
- 145
1
vote
3
answers
519
views
What risk factors might a credit issuer weigh more heavily than a credit monitor?
For the past 4 months, Credit Karma has been saying my approval odds for the Amex EveryDay Card are "very good". I have applied twice for said card and been rejected both times.
My credit score is ...
- 11
1
vote
1
answer
2k
views
How to build credit score as fast as possible [duplicate]
I am looking for details on how to build and raise credit score as fast as possible. I have done some research already, but I am foggy on a few points.
Details about me and my financial situation ...
- 11
4
votes
1
answer
187
views
Long history of credit vs. many open accounts -- where's the line?
I'm not an expert on credit scores, but I have done a good bit of research on how they're impacted by different variables. I know that a long history of a line of credit is seen as a positive; however,...
- 1,371
8
votes
4
answers
4k
views
Achieving ideal credit card utilization above 0%
So everyone is aware of the general rule that you should keep credit card utilization below 30% of your credit limit. It's also a good idea to keep this utilization above 0%.
It's very easy to stay ...
- 228
5
votes
4
answers
1k
views
What is too much credit utilization on credit card?
Is credit utilization looked by card or total credit?
Say I have three credit cards with the following utilizations:
Card A
Limit: $30000
Balance: $25000
Utilization: 83%
Card B
Limit: $20000
...
- 1,408
4
votes
2
answers
2k
views
How does a FICO score start out?
Right now I have 0 credit since I've never had a credit card before, I recently applied for a credit card and got approved so I can start building my credit. I hear that 500-600 is considered very ...
- 353
1
vote
1
answer
2k
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Credit score getting lower - but I'm doing everything right?
My credit score has dropped considerably in the past year from ~700 - ~600. This is my first credit card so far, and have only used mainly debit in the past.
Thing is, I'm not sure why it's dropping....
- 230
4
votes
1
answer
847
views
Effect of debt utilization on FICO score: is it overall, or individual?
I am currently at 42% utilization in overall revolving, credit card debt between three cards. My total credit lines equal $27K. I am looking to buy a house by the end of the year and I am working hard ...
- 716
25
votes
8
answers
23k
views
Is 0% credit card utilization worse than 1-20% credit card utilization for any reason other than pure statistics?
Much of the information I stumbled accross (including a short article written by an esteemed member of this site) around the internet indicates that having a credit card utilization of 0% is a ...
- 1,573
8
votes
4
answers
347
views
Will replacing a credit card with a better one hurt my FICO score?
I have a credit card from 1st Financial Bank. I got it when I was 18 years old, and have kept up with it 100%.
After the recent US legislation on credit cards, they have started hiking various fees. ...
- 731