http://www.videocreditscore.com/great-credit-score/ Tue, 24 Jan 2012 18:29:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.videocreditscore.com/great-credit-score/#comment-738 VideoCreditScore-Andy Fri, 15 May 2009 05:10:25 +0000 http://videocreditscore.com/test2/?p=61#comment-738 Don't close down cards at all. That will hurt your score. Pay more than the minimum, that will increase your score. For $ savings, pay off high rate cards first, but for your credit score, pay off the highest utilized cards first. Watch My Lessons on the subject... Lesson #6 is here on higher credit scores... http://www.videocreditscore.com/higher-credit-scores/ Don’t close down cards at all. That will hurt your score. Pay more than the minimum, that will increase your score. For $ savings, pay off high rate cards first, but for your credit score, pay off the highest utilized cards first. Watch My Lessons on the subject… Lesson #6 is here on higher credit scores… http://www.videocreditscore.com/higher-credit-scores/

]]> http://www.videocreditscore.com/great-credit-score/#comment-737 Doreen LaPorte Tue, 12 May 2009 23:40:39 +0000 http://videocreditscore.com/test2/?p=61#comment-737 My FICO Score recently went down to 683...it was in the mid 700s a few years ago. I have 5 different credit cards, of which, I pay the minimum every month. How can I increase my FICO Score? Should I close out all my credit cards once I pay them all off in full or should I close out 1 credit card a year after I've paid all the balances? Thanks! My FICO Score recently went down to 683…it was in the mid 700s a few years ago. I have 5 different credit cards, of which, I pay the minimum every month. How can I increase my FICO Score? Should I close out all my credit cards once I pay them all off in full or should I close out 1 credit card a year after I’ve paid all the balances? Thanks!

]]> http://www.videocreditscore.com/great-credit-score/#comment-716 VideoCreditScore-Andy Thu, 30 Apr 2009 02:48:09 +0000 http://videocreditscore.com/test2/?p=61#comment-716 Too many credit cards is a bad idea. But, eight is barely above average. The risk today is having 0 balances can lead to some issuers looking to close down some of these cards. This is a bigger deal if they close down a card with a really high credit limit that you've had for years. For those cards, you want to use them once every few months...not to keep your score higher directly....but to make sure these cards stay open and thus lead to a higher score. Make sense? Too many credit cards is a bad idea. But, eight is barely above average. The risk today is having 0 balances can lead to some issuers looking to close down some of these cards. This is a bigger deal if they close down a card with a really high credit limit that you’ve had for years. For those cards, you want to use them once every few months…not to keep your score higher directly….but to make sure these cards stay open and thus lead to a higher score. Make sense?

]]> http://www.videocreditscore.com/great-credit-score/#comment-715 Ronald MacRae Wed, 29 Apr 2009 15:21:32 +0000 http://videocreditscore.com/test2/?p=61#comment-715 Does having to many credit cards with 0 balances on them cause ones score to drop. I have I think 8 cards. My score is 785-835 Just curious! Does having to many credit cards with 0 balances on them cause ones score to drop. I have I think 8 cards. My score is 785-835 Just curious!

]]> http://www.videocreditscore.com/great-credit-score/#comment-308 Mortgage Delinquencies Hit ~4% in 3Q | Mortgages Unzipped Wed, 10 Dec 2008 22:03:18 +0000 http://videocreditscore.com/test2/?p=61#comment-308 [...] Look out.  To be expected delinquencies are on the rise, almost double historical rates. What does this mean?  Change and Opportunity.   Lenders are going to respond to these delinquencies with trying to balance their portfolios with a heavier weight of on time performers i.e. higher credit score people.  Meanwhile, a recession should push the delinquency rate even higher.    In contrast, the average amount of an outstanding mortgage fell 3.5% to $192,287 in the third quarter.  I’d like to think new home purchases at reduced prices are driving this figure down.  I’m wondering how many quarters it will take to see the delinquency number start to decline.  If you have sat on the sidelines and not purchased a home yet, the timing is really starting look good, especially if you have good credit. [...] [...] Look out.  To be expected delinquencies are on the rise, almost double historical rates. What does this mean?  Change and Opportunity.   Lenders are going to respond to these delinquencies with trying to balance their portfolios with a heavier weight of on time performers i.e. higher credit score people.  Meanwhile, a recession should push the delinquency rate even higher.    In contrast, the average amount of an outstanding mortgage fell 3.5% to $192,287 in the third quarter.  I’d like to think new home purchases at reduced prices are driving this figure down.  I’m wondering how many quarters it will take to see the delinquency number start to decline.  If you have sat on the sidelines and not purchased a home yet, the timing is really starting look good, especially if you have good credit. [...]

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