Credit Score & Monitoring Questions

Hi everyone! I am new to here.. I paid Credit Check Monitoring w/ Free Credit Score every month for $13.95. I also paid Lexington Law for $79 every month to repair my credits. I know it is relatively expensive but they have removed 15 items from my credit since I joined. I began to check several website to check for my credit score such as Credit Karma and AnnualFreeCredit, I noticed that my credit scores are not all same. I am beginning to wonder why they are not the same and which are creditiblity? Can anyone tell me which website is accurability? I have yet purchase MyFico because I alread paid Credit Check Monitoring w/ Free Credit Score. Thank you

EarthyTx wrote:
Hi everyone! I am new to here.. I paid Credit Check Monitoring w/ Free Credit Score every month for $13.95. I also paid Lexington Law for $79 every month to repair my credits. I know it is relatively expensive but they have removed 15 items from my credit since I joined. I began to check several website to check for my credit score such as Credit Karma and AnnualFreeCredit, I noticed that my credit scores are not all same. I am beginning to wonder why they are not the same and which are creditiblity? Can anyone tell me which website is accurability? I have yet purchase MyFico because I alread paid Credit Check Monitoring w/ Free Credit Score. Thank youThere are 10's if not 100's a proprietary credit scores out there and they are all "correct" based on their own score model. Asking which is "accurate" is not the right way to look at it. What is importnat is what credit score matters to the company you are applying to. Basically there are FICO scores and Non-FICO scores, or "FAKO's" as they have come to be known. FICO reports that 90% of top lenders use FICO for credit decisions. It is clearly accepted as the industry leader. If you want to use others that's fine but they are not FICO scores and are not used by the majority of lenders. As well, your FICO score, any credit score, is based on the information in your credit report, you have 3 credit reports from the 3 main credit agencies, Equifax, Experian and TransUnion, and you will have a FICO score for each of those 3 credit reports. Your credit reports may have different info in them thus your scores may not be the same. In addition, the info in your 3 credit reports is always changing, even on a daily basis, thus your FICO credit scores are not static and will change with time, sometimes daily based on new info added to your credit reports or simply due to the passing of time (time is one of the major factors taken into account in you credit score). Feel free to view all the other credit scores but in the end they do not matter, they are not used by Lenders thus they are just a guide, a guide that can be way off (or it can be close as well, it's a toss). Not something, well, to bet the house on... Additional info:http://www.myfico.com/crediteducation/questions/different-scores-for-3-credit-bureaus.aspx

Similar Messages

Questions on ordering monthly myfico score monitoring

I'm in a similar situation with mortage scores. So yesterday I signed up with Equifax only because I needed to know my mortage score. It said I had a mortage score of 688. However my lender yesterday afterwards and he said my equifax was 658. So keep in mind the monitoring score may not be the same as your lenders. I'm in the process of closing n my credit report expired on Friday and I can't close til Monday or Tuesday. I hope this helps. I do subscribe to the credit bureaus personal credit monitoring tools that way I can update on a daily basis,call them directly to fix any problems.

I think im starting to understand this whole credit score scam lol.. Had my lender pull scores back in April, I need to raise about 40 pts across the board so i definetly dont want another hardpull my understanding is if i sign up for the $25 monthly fee to monitor my score its myfico8 score but intially i will also recieve myfico scores that my mortgage lender uses, so will my mortgage scores update monthly also if i sign up for the plan? I have done some wotk oncredit since april so i may have already raised it 40pts ive gotten two pfd collections but still have 3 old medical collection from 2011 very small amoun($300 total with same ca) i have opened a CC and use daily and pay twice a month. but i want my mortgage scores monthly. so if im only getting my mortgages scores intiatally maybe i should wait until ive done a little more repair, or how much does myfico charge if i order my mortgage scores again further down the road a month or two?

Credit Score Tanked - Feeling Hopeless

Alright, I'm 21 years old, gong on 22 very shortly, and my credit scores are 484 TU and 493 Equifax. Around October of last year my credit scores were in the mid 600s. In that time I got a new job and went a little crazy, and got into more debt than I should have. Moreover, because I wasn't budgeting my moeny I would end each month with zilch in my checking account. I was late on almost every payment I had to make. That would include my car payment, a private student loan (Discover), my federal loan (which almost went into default), a best buy credit card (which nearly charged out, but I am on my way back to paying off), and a parking ticket which went into collections. In the last month, I've been trying to get my sh*t together. I made a budget and was able to cut my unescesary expenses (I was spending around $400/month just going out to eat/drink) and save some money each motnh. I was able to get my Federal loan, on the cusp of default, back to a balance of $0 by retroactively puttign the last 7 or so months of missed payments in forebearance (god knows how I made that happen). I paid my parking ticket. Everything is basically up to date now except my Best Buy card, which is still behind but I should have paid off in a couple months time. The question is, where do I go from here? I applied for a Capital One secured card and was declined, so I'm feeling quite grim at the moment.

First off, take a little time. Some of those things you have done, probably have not yet shown up on your reports yet. Let everything shake out. Work within the budget you have set up. It sounds like it is working, so let it allow you to build some savings up. I know thefeeling of wanting to get going, NOW! But takeyour time, you are 22, many of us have had to build or rebuild far later in life, there is an end, and you will get there. Work on writing good will letters to the negatives on the reports. Use these forums, get a couple of secured cards (try cap1 again in a few months) if whoever youbank with has a secured card they would also be a solid choice. You are 22 and taking control, well ahead of the curve just stick with it.

How will helping my parents affect my credit score?

Hi credit experts! First of all, thank you for taking the time to read my post. It means a lot. Here is my situation: My father is retiring at the end of August and my parents are planning to move up closer to me (about three hours away from where they're currently located). They already sold their house, and their closing date is 8/13. We approached a realtor to start looking for a house by me, but wanted to get pre-approved first. I had recommended an FHA loan to them because of their poor credit score (on credit karma my father has 585 and 593 and my moms is 638 and 601). The mortgage broker said that wouldn't be a problem due to their high down payment ($120,000), but they would need to have income in their new location coming in before they get pre-approved for the mortgage. As I mentioned previously, my dad retires at the end of August and will be receiving social security and his pension, however that will not be coming in until at least November. My mom is going to work up until she moves, and then get a job once she gets up to her new home. Therefore, they have no "current" income to report to be approved for their mortgage (because they need to be out by the end of September and my dad's first check won't come until November and my mom needs 30 days minimum of paystubs and even if she gets a job tomorrow, she will not have enough time before they need to move out). I talked to the realtor and she put me in touch with another mortgage broker who offered us the following option: - Purchase the home under MY name (fairly good credit, score of 750), and use their $120,000 as a down payment "gifted" to me. Then, when they move up here and my mom starts working and my dad gets his social security checks, have them re-finance the house and put it back in only their names. My question to you all is - how will this affect MY credit? Assuming they make all their payments on time (which they will). My main concern is that my fiance and I are planning on buying a home of our own within the next 2 years. I am worried this will affect my ability to get a mortgage for myself when the time comes. I would love to help out my parents, but I need to make sure it isn't going to ruin my future first. My main concern is taking care of my credit so that I'm NOT in the boat that they are in now. Any insight would be fabulous! The mortgage broker who suggested it to me said it won't affect my credit at all, but I want to get a couple other opinions before I committ. Thank you again!

I would not do what you are proposing - or more accurately what the mortgage broker and Realtor are proposing. What is the price range your parents are planning for their next purchase? Have you found a house or are you just researching at the moment? This is July 2015. Your parents will have income as soon as they move and your Mother gets a job and your Father's SS starts coming in Nov 2015.You are really only talking about 5 or 6 months gap here. A short term rental is a terrific way to fill the gap. There are a number of ways to handle this without involving you and your credit. If the LTV is low enough with the $120k down payment, your parents can get a bank statement type loan.They can rent a place for six months or so beginning now until your Mother's job starts and your Father's SS starts and then purchase. This gives your parents ample time to settle in the area, scout for a new home and get the right place.Or, if you have found a place, consider offering the seller an installment type purchase. $X down (not the $120k, a much small amount) $Y in rent/monthly payments and a close date in Dec 2015. There are sellers that will do that, but certainly it limits the inventory.There are risks involved from a tax POV if your parents gift you the $120k this year. Talk with a CPA. It is not wise for either of you to do this large gift - it is over the allowed annual limit and there is a gift tax. Get professional tax advice from a CPA so you have the most accurate info.

Credit Score Drop & Credit Limit Increase.

This morning I had 7 points drop from my credit score. This past month I decided to pay off a 10 year student loan early thinking it would help my credit score. I know it has helped my financial situation but has given my credit score a hit. I am thinking I got the hit because I closed the account out which significantly lowered my AAOA. I have a auto loan that I am currently paying off and the loan ends in about 2 years. Ive been going back and forth about paying off this also, but since I got the hit I just decided not to and just wait the 2 years. In my report I have 1 missed payment waiting to fall off next month, and after that I am pretty set. I have been also itching for another credit card. At the moment I only have one card which is my Barclaycard. What are your thoughts on opening up another one? I know it'll drop my score but I am thinking that I need to replace my loan with something beneficial such as another credit card. I am just not sure if that is a good thing. This morning I checked my Barclaycard statement and realized that they increased my credit limit. I started off with $1000 and they gave me a credit limit of $3500. So my question is how will this affect my credit score? I am on the road of rebuilding my credit. I started this road in the low 500's and within a few months I was able to get my score up to the low 700's with the help of this forum and advice. I would hate to see myself go backwards again. Any advice would be great.

hazeboo wrote:
This morning I had 7 points drop from my credit score. This past month I decided to pay off a 10 year student loan early thinking it would help my credit score. I know it has helped my financial situation but has given my credit score a hit. I am thinking I got the hit because I closed the account out which significantly lowered my AAOA. I have a auto loan that I am currently paying off and the loan ends in about 2 years. Ive been going back and forth about paying off this also, but since I got the hit I just decided not to and just wait the 2 years. In my report I have 1 missed payment waiting to fall off next month, and after that I am pretty set. I have been also itching for another credit card. At the moment I only have one card which is my Barclaycard. What are your thoughts on opening up another one? I know it'll drop my score but I am thinking that I need to replace my loan with something beneficial such as another credit card. I am just not sure if that is a good thing. This morning I checked my Barclaycard statement and realized that they increased my credit limit. I started off with $1000 and they gave me a credit limit of $3500. So my question is how will this affect my credit score? I am on the road of rebuilding my credit. I started this road in the low 500's and within a few months I was able to get my score up to the low 700's with the help of this forum and advice. I would hate to see myself go backwards again. Any advice would be great. Your AAOA doesnt get affected, it will still count towards your AAOA for 10 yrs from the time of closing.The credit line increase will not hurt your credit scores. If youre going to apply for another CC, i would wait until your CR repoets $0 balance/account closeed/paid as agreed. If you're score went down for paying the school loan off, it should go back up soon...doesnt make sense. When i got my two auto increases with Barclay, they HP me...maybe it changed but i would check and make sure they didnt do that. If they did, i would dispute that you didnt give them permission for auto HP increase. Worked with my wife. Anyonre?

BT Mobile - Problem with Erroneous Credit Score an...

I have been a BT Customer for 35 years and have always paid my bills on time. I have a monthly direct debit for my landline and Broadband and have just added BT Mobile to my account. I have to say that I should have paid more attention when setting up BT Mobile online as it did flag through the process that there would be a cap of £50 spend outside the monthly plan and that roaming would be turned off. On receipt of the confirmation email on 2nd April this limit to my account was restated and was put down to my credit score. I called BT on the 2nd and was told that this was not a problem and the limits could be changed once the service had started. The service commenced on 8th April and on entering MYBT I am able to increase the monthly cap to £100 (not that i want or need to). However, the real issue I have is that I cannot activate Mobile Roaming. My account is flagged (Sorry, but you can’t use your phone abroad at the moment. You need to be a BT Mobile customer for six months first and have paid all your bills on time).
I rang BT on 10th April to find out what the problem is and was told that it was my credit score and there was nothing that could be done to change what had been done. I was told that I would need to find out for myself what adverse information was held by Equifax who BT use. After paying £14.95 to Equifax for a full report and credit score I found that my credit score is 527 which is deemed to be excellent against the UK average score of 380, and there is absolutely no adverse information whatsoever which is of no surprise to me. So what on earth are BT looking at. I have tried in vein to get somebody in BT to check my file as there must be an error. I suspect that when I applied on line the process is automated and the system has made a mistake. Rather than investigate my case I am just being told nothing can be done to let me use my phone whilst abroad. After several hours on the phone to various people over a few days I have come up against a brick wall.
Is there anyway a moderator could help me please. If I had known that I would encounter this I would not have signed up for BT Mobile and Ported my number which I would be loathe to loose.

it may well be nothing to do with your credit score, but more to do with bt internals
ie: I purchased a new second hand car last year (December), my bank who i have been with for over 10 years, have a current loan with (that ends this year) and have had previous loan with, never been overdrawn, wages paid in each month and bills paid on time said I could not have a loan and if they did offer one it would be at a very high interest rate (i am still waiting to fine out from them why), even though I got a loan through another company at a very good deal, I upgraded my 3 accounts with EE from T-Mobile in December and January which all required a new credit check went through without issues (and they offered me another line on my contract on Sunday, saying that my credit rating is perfect) . My credit rating from experian when I checked (because of my bank) was Green and in Excellent condition.
The only thing I know was 11 years ago I got in financial debt (the bank purchased the debt from another company, but I paid everything off by scrimping and scraping for a number of years) - it may be that they are still using against me, but every other company has said they find nothing wrong with my rating, but what I have heard is that they reset ratings every month, so you may be fine to get something on the 1st of the month, but if applied on the 2nd they would refuse it.

Credit Score in the 400's and I'm feeling awful :(

I went from a 700 credit score to now 490 and I'm not sure how or where to begin towards repairing my credit. I separated from my husband 2 years ago because our relationship was becoming extremely dysfunctional and I didn't want to expose my 2 year old son to the disaster we were going through at that time. When I moved out I was only working part time as a school teacher and unfortunately had to let some of my obligations go unpaid which has ultimately affected my credit for the worse. Now 2 years later, I'm divorced though teaching full time and need to get my credit repaired, the thing is I'm not sure where to begin. I have almost 7 charge offs and 4 collection accounts and at this point I'm feeling lost and hopeless. I've considered using a credit repair agency but not clear how beneficial they really are? Please any advice, encouragement or help would be greatly appreciated. Thanks.

waitingforamiracle wrote:
I went from a 700 credit score to now 490 and I'm not sure how or where to begin towards repairing my credit. I separated from my husband 2 years ago because our relationship was becoming extremely disfunctional and I didn't want to expose my 2 year old son to the disaster we were going through at that time. When I moved out I was only working part time as a school teacher and unfortunately had to let some of my obligations go unpaid which has ultimately affected my credit for the worse. Now 2 years later, I'm divorced though teaching full time and need to get my credit repaired, the thing is I'm not sure where to begin. I have almost 7 charge offs and 4 collection accounts and at this point I'm feeling lost and hopeless. I've considered using a credit repair agency but not clear how beneficial they really are? Please any advice, encouragement or help would be greatly appreciatedc. Thanks. First step is to get your reports, which you apparently have done. Second step is to "triage" the damage. Separate them into groups - Charged off accounts that have not gone to collections, Collections that are updating each month, and collections that are dormant (not updated in a year or more).The first group does the most scoring damage, and has potential to worsen - they can spawn more collection accounts, and judgements. The second group does the maximum damage that collection accounts can do, and the third group does the least amount of damage. Try to work out repayment plans/settlement agreements with the first group - the priority is to get them settled and reporting a $0 balance. That will result in better score right off, because those balances will not be used in your UTI portion of FICO scores. The second group items you want to approach each one ONLY if you have the ability to pay in full should they turn very agressive in you negotiations. You want to try to negotiate a PFD if at all possible. While you are doing all of this you also want to work on establishing new credit. You may have to open a couple of secured credit cards to begin with if you have no current credit accounts at all. I would suggest beginning with Capital One and OpenSky if you need to go that route. Avoid predator lenders like First Premier and Credit One. Do you have any current credit accounts at all?

What's the highest credit score you've seen?

A lot of people here say a 850 score is perfect, but i've seen scores that were even higher. I work in the car dealership industry and i see credit scores day in and day out. I don't rememeber the exact score since this was before i joined myFICO but it was somewhere in the 870 range.

slipper wrote:
A lot of people here say a 850 score is perfect, but i've seen scores that were even higher. I work in the car dealership industry and i see credit scores day in and day out. I don't rememeber the exact score since this was before i joined myFICO but it was somewhere in the 870 range. That's because auto dealers typically used the auto enhanced version of Fico which goes up to 900. On the regular Fico 08 score, 850 is perfect and you won't see a score higher than that.. There are many versions of Fico and some have different ranges: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-versions-and-variations/td-p/1197617

I just found out my credit score dropped because Verizon One bill put me through collections for my final bill that I never received and after almost two hours on the phone transferred back and forth they still could not confirm if I owe money or not.

After 2 hours transferred back and forth between billing, one bill, home and wireless no one could prove that I owed money. Wireless said I owed nothing and home said I had a credit for cancelling a couple days before the billing cycle but owed for wireless. After a three-way called between Home and Wireless and Wireless insisting I do not owe anything, the Home representative disconnected herself, the wireless rep promised me a call back the next day to get the other department online and to get everything resolved. No one called me back next day and the day after. Knowing this could go in circles and don't want to do anything bad to my credit, I paid the settlement amount to the collection agencies. Now I saw that my credit score got ding for an amount that Verizon couldn't prove that I owed. I should not have paid it at all. If someone from Verizon reads this message, please get back to me and get this resolved. After more than 15 years with this company, this is making me so frustrated. I liked Verizon services but at this point I am going to start looking for someone with better billing.

I called customer service, spoke to Verizon Wireless Representative but they cannot pull anything on my record. So after two transfers I asked to speak to financial services. Spoke to Ronnie Ext 5100. Representative was very rude, not listening, kept on insisting that since I paid the collection agency I cannot dispute. Said should not have paid the collection agency. Rep was over talking, not listing to me explaining my frustration of being on the phone for hours in November between Verizon OneBill, Home and Wireless and got nothing resolved, and that's why I paid. Said there's nothing she can do except to put a note to Credit Bureau that the account is paid in full. I asked to talk to a supervisor or a manager and she said no one can do anything else. I insisted and she asked me to leave a phone number to call back. After all the calls and speaking to many reps, this is the worst. Now I am back to square one waiting for someone to call me back. And my credit score is still one hundred points lower thanks to Verizon!!!

What was your credit score when you did the shopping cart trick?

Hey everyone! I have removed all but two charge-offs and am paying monthly payments on one of those(Springleaf). My credit score is still terrible....a whopping 505....but, by removing 4 charge-offs it brought it up 36 points. It was 469. Gotta start somewhere. Lol. I have been reading about the shopping cart trick and wanted to ask y'all what was your credit score at when you succeeded? I have two judgments that I will file a Motion to Vacate this fall when I have them paid in full. Thank you very much. :-)

Tietza wrote:
Hey, SandiBeach22! I looked at your siggy and I am only seeing.... TOTAL CREDIT LINES: $166,750.00
EQ FICO: 744 (6/2015) I see a little plant which I think means that you are in the 'garden'? Which three did you try and your score is excellent at 744. Mine is barely over 500. Heck, I can't stay in the garden! Just started gettin the SCT to work! Have to many cc's. Maybe 18/19? Got Overstock recently with a 16k limit! I try to check out as a guest. It seems to work better for me. Got the Sportsman Visa the same way. No hp's at all and around 28,250.00 in cl's. Worth a shot or two. Keep trying. It took me about 2 months to get Overstock to work. VS should give you a card. Probably a few more too. Scores not excellent. Not until it's over 800.

Transunion & Equifax Credit Scores Dropped more than 20 pts!!!

I check my husbands credit score once a week (Credit Karma updates weekly). His scores have been between 525 and 540 on both with Transunion being the highest. For the past 2 weeks they have gone down! Equifax is now 499 and Transunion is 468!!
There's nothing new that I can see, does anyone know the reason this can happen?? He has a few collections, nothing new was added. The collection agencies report monthly. PRA only reported to Transunion for June!
Thanks

CK is basically worthless when it comes to gaining an 'accurate' overall snapshot of your credit profile and score. It always shows that one of my new auto loans has been deleted from the report, yet all of my credit reports (including CK report) show it is still there.My TU FICO8 is 757, no baddies at all, and yet CK shows my score to be 617 (no baddies, everything exactly as the TU site and MyFico reports). Also, I almost didn't apply for a LOWEs card because it showed that I had a poor chance of being approved. I did it anyway and have a $10K SL. It's great for notifications, I get them almost immediately and it's great to review and if anything seems inaccurate, you can pull the actual report, but other wise, Ck is for entertainment, IMHO

Year long attempt to fix my credit score because of

This has been over a year long issue as of now. I was looking at my combined credit score back in June of 2013 and noticed a 60 point drop on all 3 scores - Equifax, Experian and Trans Union based on an account in collections from Verizon from $529.00. I was never notified by any collection agencies by phone calls or letters or by Verizon wireless. I disputed this with all three credit card companies and wrote a formal letter to Verizon. The amount and item has been fixed on two of them, but the Equifax score still shows a delinquent charge from Verizon Wireless on 2/1/2010 for $529.00. The amount was for an opened account in 2010 but did not show up on my credit report until June 2013. Seems very unusual. They assured me that it was reported correctly and that I need to contact Verizon to get this resolved. I have had no success in doing so. Does anyone else have a similar experience? Verizon, please fix this...

EPIC - The Fair Credit Reporting Act (FCRA) and the Privacy of Your Credit Report
Read the above. Get copies of the other credit bureaus that have given accurate updates and or letters stating it was corrected.
Get a consumer lawyer and sue the erroneous credit bureau for the maximum amount allowed by law. Or go out and get denied for a large credit item (car or home or boat) after being denied you can sue for three times the amount.
You can also take Verizon wireless to court (small claims) for the amount in dispute and another $3000.00 for violating the FDCPA
Read the law.
Add in court costs and postage costs and any costs associated with getting Verizon to remove it permently from your credit file(s)
Good Luck

My credit Score is 2 - 0 negs - 0 transactions - 0 bankruptcies

10 years ago, I had a student loan in default, and a debt with the IRS.I paid these off in 2011. I don't borrow money, have no debt, no cc's, no bankrupcies. I just ran my credit score for the first time ever. euiqifax = 2 transunion = 2 experian = 698They all show 0 debt, 0 transactions, 0 negatives, 0 banrupcies (this is all basically true, except paying off old debts) None of the reports have information about my IRS debt or the student loan. However, only Experian has a relatively current addresss listed, whereas the other two agencies have 10+ year old address' listed. I sent all three agencies a letter to undate my address, and remove a public record ($600 from 2006). Is there anything I can do to improve my score? or is my domancy with inaccurate addresses starting me at a 2 with 2 agencies? I need a loan for the first time in 20 years. Thanks

First you need to open up three lines of credit to maximize your scores. Ideally two and then the third one later on. You have to begin some where. Even though you may not use the credit cards atleast it will give you the score boost you need. Good Luck

A student trying to optimize their credit score

Hello, I am a 26 year old student with a credit score of 700 that hasn't really been increasing (or decreasing) over the past year. The only form of credit I currently have is a discover it credit card. I will soon be taking out about $10k in direct subsidized student loans as well. Besides that, I have a checking account with chase and discover. I don't have an income, but will be living off of student loans and grants for the next couple of years, and would prefer to be building credit with a CC during that time rather than paying by debit card. Currently, on my discover card, I keep my utilization below 10% but above 0%, and make sure to pay on time. I don't really know what else I can do besides that, and I would like to raise my score, at least to the 750 range. I can't take out home or auto loans because I don't have an income (and don't need either home nor auto). The only other things I can think of doing are opening another CC or taking out a small personal loan and paying it back vigilantly. Does anybody have some advice on where I can go from here? I would really appreciate it. Thank you!

I agree with Axe. If you can let us know when you opened your Discover card, that would be helpful for us to know in order to give you advice. Axe gave you some other good advice. Acquiring two more credit cards in the next year is a good idea too, as Gdale said. With three CCs and the occasional installment loan (you will be starting a student loan soon) you can achieve VERY high scores. That's all I had for a long time and my scores climbed into the 820s. You gave us an essential piece of information which is that you are NOT trying to prepare to buy a house (or even a car) for a while. Those purchases sound very low on your own emotional radar too -- at least for the next 4-5 years. Following up on that, can you tell us what you think your own credit-related goals are? Here are two different goals as an example, but you might have others: (1) I'd love to get my scores higher so that I can get more and more credit cards. My goals is to eventually have ten (or more) credit cards, with a number of them being really prestigious rewards cards of different kinds -- the kind you need high scores to get. (2) I'd love to get my scores higher since down the road I will eventually want to buy a house. Credit cards are great but I don't need more than a few. Getting more CC's is fine but only as a tactic if it helps me achieve the goal of raising my score. These are two very common goals people will often have here. As I said, you might have other goals, such as "I want 10 prestige cards and to buy a house in the next 12 months." (Arguably an unrealistic goal, but it helps to know if that IS your goal.) The reason to get clear about your goals is that the advice you get should differ depending on which goal you have. Final note: your 700 score is a good one. Great job, great place to be starting. With that starting place and your attention to careful credit maintenance, you should have a bright future ahead of you. Can you confirm for us that the 700 score you have is a true FICO score? I assume that it is the free score you are getting through your Discover card?

What effect does closed credit card accounts w/ a balance I'm paying off have on my credit score.

I've closed three credit card accounts and I'm paying off the balance on them What effect does that have on my credit score?

Don't think it will take a hit right now. It stays on your report for 10 years after you close it. Even though you pay it off, removing the cards will raise your available credit, leading to a higher UTIL %. But UTIL % is overrated. Long as its below 30%, should be fine.

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