My Fico

Discussion in 'Credit Talk' started by Erica, Jul 15, 2001.

  1. Erica

    Erica Well-Known Member

    Ok, I don't know what the hell is going on, but my FICO keeps dropping. In March, I checked my score and found it to be 583. That is when I decided to join Junum and obtain a credit card of some sort. I joined junum and opened a secured mastercard and a store charge in April. At the end of April, my score dropped to 561. That is understandable, 2 new inquiries and 2 new accounts opened. But after 2 deletions, my score as of today is:536. I don't understand what the problem is. But that is a drop of almost 50 points in 5 months. I thought as your accounts age, your score is supposed to go up?

    Whatever. I think that FICO is just like standardized tests. They are not an accurate compilation of who you are or what you know.
     
  2. creditwork

    creditwork Well-Known Member

    Totally agree, FICO is useless. I have excellent credit. I have built it through patience and discipline. Exercise your credit to make it grow and to lower your costs.

    www,creditsense.com
     
  3. Erica

    Erica Well-Known Member

    How can I possibly do that with a $200 credit line secured mastercard and a $300 credit line store charge? And what exactly is exercising your credit?
     
  4. creditwork

    creditwork Well-Known Member

    You can't use CreditWorks, as the minimum membership is $1000, but you can still exercise your credit. Exercising means using your credit strictly with the intention of creating a good payment history. Borrow close to your line, making sure not to exceed your limit, then make large payment, but make sure you carry a balance for at least a couple of months. Once the account is paid off, let it idle for a month or two and repeat. I have consistantly gotten higher limits and lower rates with this method.

    www.creditsense.com
     
  5. Erica

    Erica Well-Known Member

    Does this method work with a store charge?

    And just to let you know, I can afford the $1000, just choose not to.
     
  6. creditwork

    creditwork Well-Known Member

    It works with any credit, but the idea is not too spend credit, so a store card kind of defeats the purpose. I was not insinuating you could not afford a $1000. My statement was based on your post of 2 cards with a limit of $500. It is not a matter of affording $1000, you are entitled to not take advantage of a return better than a money market account. Most people would shy away from uncertainty. But common sense, in our case "credit sense" will tell you than if your credit is costing you less than 18% or your money is earning less than 19.47% APR, CreditWorks will improve your return.

    www.creditsense.com
     
  7. Erica

    Erica Well-Known Member

    Thanks for your help, I appreciate it! See you guys in 2 weeks!
     
  8. creditwork

    creditwork Well-Known Member

    Re: CreditSense

    Thanks for posting all the links. It can be considered too good to be true. It has been true since May 1996. We do continue to offer our program to all, except for residents of the state of Pennsylvania. We have never solicited anyone that did not want additional information about our program. The reason I say that is because on the cease and desist letter it claims we did a solicitation. This is not true, it is also false that we are selling securities, our program works strictly on a loan basis. We included, lend money to CreditWorks. CreditWorks trades these funds on a daily basis and makes payments on time to all the participant in the program.

    www.creditsense.com
     
  9. Cindy

    Cindy Well-Known Member

    Re: CreditSense

    I am impressed over FIVE years paying out 19.47% is fantastic I hope you can keep it up (at least another ELEVEN MONTHS PLEASE!) as I am preparing to paypal a mininum membership of at least $1000 to get starting on........

    "Exercise your credit to make it grow and to lower your costs."
     
  10. Cindy

    Cindy Well-Known Member

    Re: CreditSense

    oops meant at least another THIRTEEN MONTHS!
     
  11. creditwork

    creditwork Well-Known Member

    Re: CreditSense

    Cindy, we will be around a lot longer than 13 months. If you do join, we think you will join over and over and please keep the rest of this board abreast of your experience.

    www.creditsense.com
     
  12. SCHOLR

    SCHOLR Well-Known Member

    Re: CreditSense

    HOW CAN THIS BE POSSIBLE??

    ALMOST 20% RETURN?

    I HAVE PLENTY OF CREDIT, BUT COULD ONLY FLOAT

    THE MONEY @ ABOUT 4.50% GUARANTEED FDIC

    RETURN, TOO MUCH INVOLVED FOR A SMALL

    RETURN.

    MY STOCKS ARE RUNNING ABOUT 15 - 20% BUT

    IT'S A ROLLER COASTER RIDE THAT I WOULD NOT

    INVEST MORE THAN I COULD LOSE.
     
  13. creditwork

    creditwork Well-Known Member

    Re: CreditSense

    I agree stocks are a roller coaster, but if the funds are available and one watches certain stocks and uses their price momentum you can make a lot more than 20%. Take a look at the chart of some of the stocks we are currently trading. We are trading very often. On average, we are doing over 100 trades a week this year. There are also benefits to us trading in CreditWorks, that are not available to individuals.

    www.creditsense.com
     
  14. Cindy

    Cindy Well-Known Member

    Re: CreditSense

    sorry for the slow response...computer problems anyway Thank you for the quick replies and I certainly will...

    "keep the rest of this board abreast of your experience."
     

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