Help pls

Discussion in 'Credit Talk' started by CAS2, Sep 10, 2003.

  1. CAS2

    CAS2 Well-Known Member

    I pulled credit reports immediately after BK discharge in June. (score=569) How often should I check report and scores from now on?

    I'm curious about my scores b/c I've since consolidated my student loans and got a Orchard Bank CC paying off almost as soon as I use it for anything. I'm hoping for a boost!

    Please advise!
  2. moneyelf

    moneyelf Well-Known Member

    I have always read that it is better to establish a payment history than paying a bill off, in full, every month (though I understand why you'd want to, of course). Maybe pay it over 3 to 6 months and try paying at least a dollar more than the minumum payment per month. That, I hear rumors, will help your credit.

    Many people check their own report quarterly or twice a year. Check it before you apply for any credit/loans so you do not get any surprises. Limit others pulling your report which potential other lenders can see (car dealerships, I have been told, do not look as bad/affect your score as much as other 'hard' pulls like banks, mortgage co's or credit card banks etc. Maybe somone knows more about this?).

    Pulling your own credit through the Big 3 does not hurt you.

    Some things I have learned and others I am still learning - as you can clearly see from my posts- so check back to see what this boards veterans have to say, too.
  3. SoParkDiva

    SoParkDiva Well-Known Member


    Here's a good thread for you to read. The OP (original poster) thought that he could make just minimum payments and all would be well with the world. Until his creditor jacked his APR to 23% because he continued to spend and his balance crept closer to his limit.

    Just making the minimum payment is okay - if your balance remains constant at below 50% utilization. The system is designed to make us lose at every turn. Lawyers are paid to thwart our efforts and put dollars in the coffers of the credit card co's. We pay on time by making minmum payments - and the lawyers find a way to ding us for that.
  4. moneyelf

    moneyelf Well-Known Member

    Thanks for directing me towards clarification. I swear I am amazed at how much new info I can learn everyday :)

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