Hi I got a credit report and and it said that I am 66% of my credit used and this drops my credit score. But this isn't true. Ok I bought a 15k truck and paid it off and then I bought a car for 11k so credit is saying that I had a 15k limit thats not true I could go and buy a 50k truck and the credit union would let me how do i get that adjusted?
If you're referring to your credit utilization ratio, what you should really be concerned about is revolving credit (i.e. credit cards), not auto loans.
Thank You I have 2 cards one for 1300 and balance 1100 and then one for 500 380 balance. My scores is a 590 I do have some late payments on creadit cards in the past but every other account I have, has never been late. I have 34 accounts that have been paid off or paying off with no late payments at all is the a normal thing to have such a low score
Yes, your credit utilization ratio on your current credit cards is killing your scores. Pay down your balances to under 10% and you should see a significant increase in your FICO scores. As the late pays get older and eventually fall off your credit reports, that should provide a boost as well.
