improved score with blue-acorn.com?

Actually, FICO likes a mix of credit types. You need revolving credit, but you also need installment loans and store cards to maximize your score.

 

If you are looking for quick improvements on your credit score, a site like blue-acorn will benefit you. My experience has been that you can do something like this in tandem with other long-term options. Yes, get your debts settled; yes, pay on time; yes, negotiate away those larger charged-off debts if possible; yes, pay off small loans first and then tackle the larger ones. But, all of those things take a lot of time -- a luxury that many people don't have in this economy. Many people go to sites like this (and even small businesses trying to stay the course when their large banks have pulled the financial rug out from under them) for triage -- trying to get that score up a little bit at a time on a monthly basis while waiting for the long-term plan to come to pass. Sites like this have little to no credit check (i.e., no credit inquiry often times), no interest, and who cares about whatever merchandise your buying - point is that your credit bureau is reporting that someone has extended credit to you; you have a credit line; and you are making payments timely. Plus, there is no danger of my biggest fear -- opening up that credit card statement and my interest rate jumping to 30%. And, after looking at the site and the fees, I believe these fees are more reasonable than many other sites out there.

 

Spam attempt #2 from the original poster get's a "C". Blue-acorn is a dumb ideal and will hurt fico more than help it in the long run. Get a secured card, a secured loan from a credit union, a crown jewelers account or something similar.

 

Yes and the products your buying are marked up 50 to 200% so wheres the savings,when your trying to swim that 600 dollar blu ray is not worth that 30 point increase.However to each his own and if it works for you so be it.Read the small print and seek advice both pro and con than decide,don't rush into it.

 

I doubt anyone who has scores low enough to consider a dumb move like using this blue-acorn crap is in a position where a mix of credit will benefit them. They can't even get credit. That really only helps folks with a high score get it a little higher. Your attempted correction to my post is in poor judgement related to the context.

 

No, you made the comment that FICO doesn't care much about installment tradelines. You've said that elsewhere. It's not true, and needs to be corrected.

Nothing was said about whether it helps those with good or poor credit.

Posting broad statements like that and then trying to tap-dance later isn't helping the posters here.

 

Hey everyone lets keep this civil no need to get personal.

 

No tap dancing needed. You don't need a mortgage or an auto loan to have a good fico score. You do need at least one, preferrably more, revolving lines to have a good fico score. If you have a good score and want to make it better then work on your mix.
I will say it again, FICO doesn't care much about installment tradelines. The fact that they aren't included in utilzation calculations should be proof of that. If it isn't, increase your credit card balances to 95% and see what your fico does.......now reduce it to 5% and see what your fico does. Do the same for an installment account and nothing happens to your fico. The End.

 

Yes - no need to get personal. But, I am entertained by the grading system. I guess Yuck is the only one getting an "A" on this topic and deservingly so (given her supposed theory that the one with the most revolving accounts wins the FICO prize). Interesting perspective; sounds fun.

 

The letter grade was based solely on the attempt at being another poster rather than atlantaguy.
I mean come on.........atlantaguy and caligal, you can do better than that. Mix up the user names a little bit, they are way to similar, as is the text in your posts,a couple of the sentences give it away, and the fact that it was the first post made by each of you. I could go on. Now that I think about it I'm going to have to change the grade to a "D". Blue-acorn is a dumb ideal because you have made the reward a sub-prime personal finance account that fico doesn't like. If you made the reward a revolving account so it will help with utilization and you report it to all three bureaus I wouldn't be so critical. Instead of calling it blue-acorn you could call it the platinum-acorn card. chuckles

 

Atlantaguy, I mean Caligal......... How does your post make having a subprime personal finance account on your credit report a good thing? I'm lost. 10% of fico is 55 points, what is your point? Please school me.
"It's impossible to say exactly how important any single factor is in determining your score."
That means if you have a 400 score with nothing but defaulted credit lines and a bankruptcy on your credit report a stupid personal finance account you paid blue-acorn to get may improve your score by 30 points. Becoming an AU on your spouses card may incrrease it 100 points and cost you nothing, a secured card may net you 100 points or 10 points depending on what is on your report. I still don't see your point.

You said you were curious about blue-acorn because your cousin said it improved her score by 30 points. It looks like you are more interested in promoting this sucky product for personal gain. Your next user name should be Texasdude or Arizonachick, that would be funny.

 

Guys it's time to put this puppy to a rest it's really getting personal,no need for this,if your having problems take it to the admin.

 

I always wonder how people think they know so much about how certain things impact or don't impact your score. It's a proprietary algorithm that no one but the folks at Fair Isaac really understand, and I suspect only a few of them know.

 

Then what's the point of any of these posts? I'd say some folks are in more of a position to know than others.


I'm sure fico loves seeing American General on your account. A personal finance loan using your couch and TV as collateral. What could be worse you ask? How about a tradeline like blue-acorn for folks that can't even get approved for American General.
Does this even report to all three bureaus? I'm sure you don't have to ask your imaginary cousin to find out caligal, I mean atlantaguy.

 

whatever. moving on - and hopefully to another message board or thread that none of you will be on. We can all read what FICO's about; thought I had some experience to add to the mix. There are other message boards out there that don't criticize you for having a different idea than they. Later. Oh, and my cat's name is caligal, for what it is worth (which is probably nothing - just like this discussion has been).

 

Yeah, it seems to be working really well for you. Carry on.

It's funny how your website advertises that you will receive a revolving line of credit yet in the T&C is states this:

Your account with the Website will be sold to a consumer finance company within approximately Sixty (60) days of the date of your purchase. While payments are due on your account within this Sixty (60) days, your account will not be reported to any credit bureau until the completion of the sale of your account to the consumer finance company.