Originally Posted by
ISP James
what is more important than your actual score is why your score is what it is.
somebody can have a 700+ and only have had 1 credit card with a 500$ limit that they had a balance on for 3 or 4 months. sure, their score is good but most lenders wont take a chance on them because their experience is too limited.
and carrying a zero balance/paying stuff off early isnt always a good thing, you need to have a proven history of on-time payments.
Originally Posted by
ISP James
your d/t/i ratio has nothing to do with your credit score. yes, it is a factor considered in most lending practices but that is at the discretion of your creditors. it has absolutely nothing to do with your score at all.
This man speaks the truth. You want to have a good score? Maintain one credit card at about 30-40% of the balance for an extended period of time. DO NOT keep a balance on store cards because it shows you are paying high interest on discretionary items.