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Credit Mix

Discussion in 'Credit Talk' started by AnnMarie, Mar 17, 2001.

  1. Mar 17, 2001 #1
    AnnMarie

    AnnMarie Well-Known Member

    I think that I'm at my personal credit mix balance from what I've read here.
    I have 4 major Credit cards in my own name (AU on a fifth)
    (I will be getting rid of 1-2 of these in the very near future)
    Penney's (Joint)
    Sears (AU) new
    Chevron (Joint)
    texaco (doesn't report)
    deferred student loan (10k)
    Installment (auto) Bal 10k
    Working on getting some negative items corected through disputes.
    What I would like to know is if I should do anything else with accounts (besides paying them lol)or am I good where I'm at? Should I open any new accounts? More retail? Less? More or Less revolving?
    Going for a house at end of summer so whatever I do I need to do now.
    Thanks all~
     
  3. Mar 17, 2001 #2
    R1 Credit

    R1 Credit Guest

    AnnMarie:
    "Negative items CORRECTED through disputes." Are these errors? If not, "REMOVED" instead of "CORRECTED" is the better choice of words in your sentence.
     
  4. Mar 17, 2001 #3
    AnnMarie

    AnnMarie Well-Known Member

    Thanks for the syntax mini lesson.:)
    Some need to be corrected, some removed. When disputing I did use the more firm "REMOVE"
    But what do you think? What is your opinion on a good mix of credit and usage?
     
  5. Mar 17, 2001 #4
    AnnMarie

    AnnMarie Well-Known Member

    Chevron is my oldest account...Penneys too. Got both of them within a month or two of eachother. I just opened Sears for the interest free offers they have. I will be needing appliances soon. All are annual fee free. I can't get any BT offers, I tried :(
    So, basically you're telling me that I'm set where I'm at? You didn't mention too many accounts so I'm assuming I'm okay there since I'm keeping the retail and gas.

    Thanks!
    AnnMarie
     
  6. Mar 17, 2001 #5
    Mike

    Mike Well-Known Member

    I think having 4-5 credit cards (at least one AMEX card recommended) and 1 department store card will help your score.
     
  7. Mar 17, 2001 #6
    Christi

    Christi Well-Known Member

    R1 Credit

    He/She definitely must work for TU or Equifax. If he is only here to defend the CRA's then why is he on a "credit repair board"? Aren't we here to establish, repair and re-establish our credit? Or am I totally wrong on what this board is about. I don't even read posts that he's responding to anymore........sick of hearing his sarcasm. If his credit is so dang good, then he has no business being here in my humble opinion.

    Christi
     
  8. Mar 17, 2001 #7
    LKH

    LKH Well-Known Member

    Re: R1 Credit

    Do us all and yourself a big favor r1 - get over it. If you don't care for what some of us are doing to improve our credit, that's fine, but do you have to have a smart alec, higher than thou attitude?
     
  9. Mar 17, 2001 #8
    ShyGuy

    ShyGuy Well-Known Member

    Re: R1 Credit

    I wouldn't get rid of the department store cards -- especially if Penney is the one of the oldest. I've already heard (though I'm not a FICO expert) that having at least one or two retail cards helps your score.

    Also, there are benefits to a retail card that have nothing to do with your credit -- special sales and discounts for card holders, advance notification of sales, etc. But for me, a store card's best advantage is it makes returns easier. I don't know how many times I had to return something where I lost the receipt. Boy, it's so much easier if I put it on a store card.

    If you pay off your cards every month, you don't really care that the APR on store cards is high. Like all other cards, they have their advantages if used wisely.
     

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