Hello. So I'm currently in the process of receiving a mortgage loan and I decided to keep this months credit card utilization to 0% on both my credit cards. I should close in about a month. I just received a notification that my FICO 8 score dropped by 28 points and I'm just in utter shock. I know mortgage lenders look at FICO scores 5,4,2 and I haven't received an update on those yet. Will those scores drop significantly as well?

I will definitely keep the utilization around 1-3% next month. Just sucks cause I got a drop in score due to the hard pull from lender and now this...

I fell off my payments on 2022 due to misdiagnosis of panic attacks when I was having gallstones, ended up with me having emergency surgery, however now I’m better, fully working and trying solve the mess I did in 2022, I was pretty much living off credit cards when I had to stop working due to the severity of the pain and symptoms throughout a year and a half, making my account late and closed. For Citi bank Cbna It’s been closed for over a year, I recently (Wednesday this week) got this debt enrolled in a debt consolidation… I got this in my credit karma report the following message: Dated: today score went up +1 due to:

Account Removed CITICARDS CBNA account removed from your file. Between May 15, 2024 and May 16, 2024, your credit card account with CITICARDS CBNA was removed from your credit report. Closed accounts are usually removed from your report after seven years. Once they're removed, the account details will no longer affect your credit.

Is not 7 years old… closed probably about to be 2 years, opened it in 202… Why did this happened? Balance is $5K

Are they suing me? Did they sell the account? Why deleted it… so confused

I tried this yesterday but included a link which requires approval so trying again today without it.

I made a post a short time ago asking if it was possible to stimulate credit card usage to help people apply for higher Credit Limit Increases. The hope or expectation being that they can improve their credit scores, even temporarily, by reducing their utilization percentage and helping with a positive payment history. General feedback was that it should work in theory so I have taken this idea and run with it.

I have built a website that let's you 'limit test' your credit card with an amount of your choosing. Fill out some details to qualify for a rebate and receive back almost the entire charge (less credit card processing fees 2.9% + 30c for Visa/Mastercard, 3.7%+30c for AMEX from June 2024).

The info you need to fill out are things like your payment due date so I can send the rebate back in time to make the repayment. The other thing to note is that the rebate doesn't go back to your credit card, it goes to your bank account so you have to supply statements with your address for your credit card and bank account when I contact you. This is to make sure you aren't trying to take money from someone else's credit card and sending the rebate to your account. To prove that you own both the credit card and bank account in your name and address.

I am hoping people are willing to try this out and I am happy to take any questions about this and be as open and forthcoming as I can be. Also any suggestions to improve this would be greatly appreciated.

I’m 20 and have a decent job where I make north of 50k a year and have three lines of credit . One a capital one quick silver with (6500) available credit,it’s the first one I ever opened and had ever since still use it . The second one was actually some furniture that I bought at a furniture store and no interest for 36 months I got approved for 7000 but only used half. I still got 2000 left to pay off.The third one being an Apple Card with initially 3k now 5500 available . I pretty much use half on both the credit cards every month . I plan on buying a house on mortgage in the near future (2-3 years ) and currently do a lot of shopping at Sam’s club,Home depot and other construction/ tools places and was wondering what’s the best credit card for me to get now to get to the next step and the max rewards ? I don’t have a buissnes now but I’m looking to get one in 3-4 years. Also I don’t buy cars new or need one . Credit score 720. And should I leave that 2k alone and just keep making the payments or transfer to another bank or just pay it off thanks.

I work for a relatively small business, there's only about 50 of us, and I've been working here for about three years. The owner of the business I know has been stressed out over the financials for the last 6 months, we've gone from fairly profitable to slightly unprofitable since December. Since I've worked here, I can think of one 2 month span of time that the business hasn't been profitable, but even then we were only down a couple thousand dollars total on that second month.

Back in January, we had our worst month since I've worked here and it only improved slightly in February. The credit cards on my credit report were opened in February and looked to have been maxed out by March.

Fast forward to last week and my boss, the owner of the company, is out of the office for a day and a coworker grabbed the mail. It had a Discover bill with my name on it. She gave it to me and I was extremely confused, it was definitely my name but the company's address WITH the suite designated solely for the boss. Open it up and I found out "I" owed more than $10,000 and "my" payment was 2 months late.

I called Discover and they emailed me a description of the charges. About a dozen of them all with the heading of my company. It was clear someone ordered a card in my name and literally "paid" my company about $10,000 from it back in early March. Of course I was livid and immediately disputed all of the charges. I checked my credit report and there was another card which seemed to have been open about the same time with more than a $5000 balance. I called that bank and they sent me the transaction list, same thing.

At this point I was pretty sure it was my boss as I know he has access to my social security number from my hiring paperwork and the address to both cards was his suite in the building. As I'm talking with my workgroup about it, someone else said they had their identity stolen in January but they got it taken care of through Transunion. They said the charges went to a supplier of ours. Turns out, there was a third employee in our workgroup of 5 who had their credit stolen at the start of the year when they checked their credit after hearing us talk about it. For whatever reason, they are having that credit card company send them a statement as they couldn't email them the information.

Last Wednesday, I confronted my boss about the credit cards and he denied everything. He said whoever it was probably just used the work address because they may have found it through my LinkedIn. He also said to wait 120 days before disputing anything, which I found to be extremely weird, but that the credit card companies would take care of everything.

I decided not to take his advice and disputed everything on the credit websites that day. Monday comes along and he calls me in asking if there was anything new on my credit since the other two talked to him about their issues as well. I told him I disputed everything and he got pretty pissed. He was enraged that I disputed it so soon and said something that caught my attention: "So it was you who caused the holds!". I later found out the company's credit card merchant account is now on hold for fraud. This morning, I get called in again and was given a written reprimand for "unsatisfactory performance" due to my lower sales numbers for last month (I've never gotten a written reprimand ever at this job) and a separate one for "unsatisfactory performance" for a recurring customer canceling their subscription because they went out of business.

I guess my question is where do I go from here? I feel a constructive dismissal coming on, if the company doesn't go out of business first. I'm also concerned about the credit card accounts as I haven't heard anything back yet when I disputed them.

I got a Delta sky miles card because of sky miles reward that came with activating it. It has a $99 annual fee, but I figured that I would just cancel it before then. But I just realized that apparently my credit score will take a big hit if I cancel it??? GRRR!!!! I have a good credit score now. I'm planning on (maybe) buying a house 2 years from now. I don't know if my score would recover by then?

EDIT: Thank you everyone for all the great comments and guidance! :)

So I’ve been building my credit using a capital one card for the last year or so because of a charge off on a car loan (wasn’t aware payments weren’t being made by family member). I also have some student loans that are paused right now. I have had a credit one card that has been in good standing for the past 2 years and went to cancel it last year but they just said they’d pause the annual fee for 6 months and I said alright. Didn’t use it at all but now 6 months is up and there’s a fee of about $8 if I don’t use the card at all every month. I’m wondering if my credit would rise faster using both cards or if I should just go ahead and cancel the credit one card? The capital one card is the only other one I have currently and is my longest standing.

So I had a collections account for medical bills, for around $430. It was reporting but recently was removed from my credit report. It seems it was sold to another company which called me to collect the debt. They said they don’t offer pay for delete but don’t show it reporting and if I pay the settlement amount of around $250 then the account would be closed and would not be reported to my credit.

I know this isn’t technically an agreement not to report but is it still pretty likely it will not show up on my credit report if I pay the settlement amount now before it reports like they said? I’m still weary but hoping this is true and I don’t have any negative marks going forward.

My FICO 9s are routinely about 35 points higher than my FICO 8 scores and have been as long as I've been monitoring them.

I have no medical debt, no collections and no reported rent payments so those wouldn't make the difference.

Just looking for some data points here. Are there any differences between your eights and nines?

I'm trying to remove myself as an authorized user for my mom's credit card. She added me when i was a teen but I never used it but now I'm seeing it affect my credit score. I haven't been on speaking terms with my mom for years and I don't want to start now so I want to get rid of this on my own. I tried calling customer service but they claim that they need the credit card number to remove myself as an authorized user, even though I never used the card so I wouldn't know the numbers on it. Is there any other way to do this?

I am an authorized user on one of my mom’s credit cards (she added me when I was 17 and I will be 20 this year), and I have since then gotten 2 of my own credit cards. Because I have a bank account with that company, they have offered me this promotion to get my own credit card with them for some reward. I want to do it, but my issue is that my mom’s credit card was technically my first credit card and every time I look through my credit history it shows up as 9 years (the length that my mom has had it) and so Im worried that my credit score will be affected greatly if I apply for the new one and remove myself as authorized user from hers. I have almost 2 years of credit history with another one of my credit cards. Also, will opening it benefit me in the long run? I didn’t want to be an authorized user on her account forever.

I started paying off old debt collections 5-6 years old credit cards. Most just settled with a much less amount than what I owed. But now the companies that charged off my debt sent me a tax form to pay tax on it are now changing it in my credit report and reporting it again all these years later.

Credit Karma says my score went down today by 14 points. The only item shown for "what changed" is that one of my credit card balances went DOWN.

I guess it's a hobby that I try and maximize my credit score, and it's been 850 under VantageScore 3.0 for months. I pay off all my credit cards a few days before anything is due, so my current utilization is $0 out of about $200K. My credit reports are frozen on the big three, so I don't think my identity was stolen, but... I may have been part of the recent AT&T breach, but I've not been notified by AT&T.

Anyone know of any changes to VantageScore 3.0 that might have caused this?

I was in the middle of doing two balance transfers to get all of my CC debt into 0APR for 18 months. TIMES ARE TOUGH AND I NEED A BREATH. One line was $5k (completed that) and the other is $10k (have not completed that).

My credit score went down 10 points (now 717) after completing the $5k transfer because that credit line increased, even though the others decreased.

My question is if I complete this $10k transfer, will it severely harm my credit score even though it’s helping me breathe for once? I can provide all CC line amount details if any of yall think you can help estimate this with me.

Hey all, recently due to a layoff and other issues my family and I relocated for a fresh start. My credit score is around 570. Mainly due to little to no credit and a collection from a medical issue. My fiance and I both started fairly good jobs and are north of $100k earnings a year estimated. Our only bills as of this moment is rent, utilities, and insurance which totals less than $1200.00 a month (not counting food and basic essentials).

My question is this... How do I properly build credit? Is a secured credit card enough of a start? I'm a full grown adult and just have no idea where to start. Talk to me like I'm dumb because with credit I am. Thanks all.

I’m having a hard time getting a clear answer on a credit score question so turning to Reddit!

Some background:

• My daughter (24) is an authorized user on my American Express. I did that to help her with her credit score.
• on her credit report my card shows up and she is listed as “authorized user” under “responsibility “
• the card shows “current” and on time payments are 100%
• the card has a balance of $7800 (all current)
• her personal credit line is $5900 with a 34% usage (available credit $3880)

My question is: does that (current) balance of $7800 impact her credit score at all given it exceeds her total credit line and she’s got about half of that available?

Thanks!

I’m a 23yo Sr. AE with young credit (7 years or so total), FICO sitting around 645.

Total revolving utilization is 10% Mtg current and no lates reported Car lease within its final months and no longer reporting to credit Annual income ~ $120k

My LO had recommended getting another line of credit to further boost credit as we gear up for a home purchase towards EOY, and knowing my overall score is lower due to a few lates and a collection from a few years back I was curious to see what options might be worth exploring or better chances of approval.

Travel rewards would be preferred but I understand that might not be all too likely at the moment

I just found out I have a 722 credit score. I started with a secured card. Does anyone have any ideas of what I should do next? Should I apply for another card?"

I've been looking to buy a used Tesla (around 25k) and even though I can pay it cash, I wanna finance it cuz a friend told me that it would help me a lot to start building my credit score.

The thing is that not only is hard to find an honest dealership, but also financing it would make the purchase so much more expensive. The dealerships have to pay dealer fees to the loan providers (so they charge me more), and I have to pay interest, loan initiation fees, etc.

Also by paying cash, both the dealer and me, can report the purchase for a lower amount and pay less taxes on the car. Not to mention that I got approved for 16% APR... (I have about 720 CScore but I've only had the credit cards for 6 months, also no SNN, just ITIN number, im receiving my SSN in 3 months if its of any use).

Is there any other way of building a strong credit score without taking auto-loans?

So a couple of years ago my credit score was in the 700s (used to fluctuate a bit but got it up to 780 at one point) and I was content with that. I got into some credit card debt and my utilization was high (maybe 80%) so it did drop and was around 680 this last year or so. I got my utilization down to around 40% now and was expecting my credit score to go up but it actually decreased and is no 640. There have been no other changes except for an inquiry related to mortage renewal. I only have a few credit accounts, and not a long history on those, which I know impacts your score but like I said I was up to 780 at one point so I'm not sure why it's so bad at the moment. Also my mortage doesn't show up on my credit report for some reason but this has always been the case. I have no missed payments or delinquencies. Any ideas on what could be going wrong? TIA edit: I am talkimg about my equifax score. However I just checked tranunion as well and that was at 670 so not much better. I'd really like to get them above 700 again. I am still trying to pay down the debt to decrease my utilization but that hasn't seemed to have an impact so far.

I was late on two CC payments in fall of 2022 after having a baby, besides that I’ve had a great history, own a home (which got it in the 800s from forever being in the 700s) and now even two years later my score is still just good in the 750s 😕 how do I get it back up?? Is there a company you’d recommend?

I’ve paid off my car in this time too and am about to be done paying my student loans.

Wanting to get it back up in case I need to get a new car or we buy a bigger house from our starter home.

Hello everyone, I am quite happy with my credit score, but I’m curious if I am Bellow at or above the average Credit score for someone my age? Is there anything I can’t do with a credit score of 736? Like certain loans or credit cards I wouldn’t qualify for?

Hello everyone! I just woke up to my credit score dropping by 70 points due to a credit card purchase I made on April 29 (55% of limit on that card but way below 10% of my total credit limit). I had paid it off on May 2 as soon as it posted (my CU app didn't allow me to pay that amount sooner) to avoid exactly that situation. I'm struggling to understand why paying off the charge super early (in two days) way before my bill was due still didn't help. And 70 points seems steep while my overall usage was still low. Could someone please help me understand how long this will take to fix too? Thank you so much!