https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 15 May 2026 02:18:52 +0000 https://boards.hellobee.com/topic/credit-score#post-1716740 Mon, 23 Jun 2014 14:14:29 +0000 mrs. wagon 1716740@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: hard pulls on credit? pulling a credit report for car loans, mortgage preapprovals, credit card approvals... </p> https://boards.hellobee.com/topic/credit-score#post-1716721 Mon, 23 Jun 2014 14:09:59 +0000 sunny 1716721@https://boards.hellobee.com/ <p>@PurplePumps: There are buckets for various rates and they depend on the lender. One lender might have the same rate for 740-760 and another lender might do the same rate for 750-800. </p> https://boards.hellobee.com/topic/credit-score#post-1716380 Mon, 23 Jun 2014 12:14:27 +0000 Mrs. Jump Rope 1716380@https://boards.hellobee.com/ <p>@Cupcake: if anything, I have more debt. </p> https://boards.hellobee.com/topic/credit-score#post-1716327 Mon, 23 Jun 2014 12:00:00 +0000 Cupcake 1716327@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: debt to income? </p> https://boards.hellobee.com/topic/credit-score#post-1716311 Mon, 23 Jun 2014 11:57:46 +0000 Cupcake 1716311@https://boards.hellobee.com/ <p>Something to also keep in mind is most lenders look for comparable credit if your looking at anything unsecured. Has nothing to do with your score, but has to do with the underwriting processes of apply for a loan. Fwiw </p> https://boards.hellobee.com/topic/credit-score#post-1716131 Mon, 23 Jun 2014 10:52:12 +0000 Mrs. Jump Rope 1716131@https://boards.hellobee.com/ <p>@aegie: we each had one credit card and made one another authorized users. He's had his card since he was 16, I had mine at 19/20. We have one joint credit card that we applied for together. </p> https://boards.hellobee.com/topic/credit-score#post-1716120 Mon, 23 Jun 2014 10:49:59 +0000 aegie 1716120@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: before you converted everything to a joint account, did you have other credit cards? Or did you just make him an authorized user on yours and vice versa for him? </p> <p>@yoursilverlining: from what i know, gender isn't considered a factor in FICO scoring. </p> https://boards.hellobee.com/topic/credit-score#post-1716099 Mon, 23 Jun 2014 10:44:04 +0000 Mrs. Jump Rope 1716099@https://boards.hellobee.com/ <p>@yoursilverlining: we are insured under my husband, if that makes any difference. Before, I was on a company policy. I've never had auto insurance under my name.</p> <p>This is interesting! There doesn't seem to be a concrete reason why my score is higher. On paper, his should be the higher score! </p> https://boards.hellobee.com/topic/credit-score#post-1716071 Mon, 23 Jun 2014 10:34:58 +0000 yoursilverlining 1716071@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: I wonder if part of the FICO calculation includes gender (like auto insurance rates, for example) and women get a couple point bump over the dudes? Hmmmmm </p> https://boards.hellobee.com/topic/credit-score#post-1716061 Mon, 23 Jun 2014 10:31:57 +0000 Mrs. Jump Rope 1716061@https://boards.hellobee.com/ <p>@aegie: my auto loan definitely wasn't for more than his student loan :)</p> <p>He has had a credit card since 16 and I didn't get one until 19/20. He was on his parents account for a long time, and they have perfect credit. </p> <p>Anything we can think of points to my husband having the higher credit, yet I'm the one with a better score! :silly: </p> https://boards.hellobee.com/topic/credit-score#post-1716037 Mon, 23 Jun 2014 10:26:42 +0000 aegie 1716037@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: it could be that you've had credit longer than him. Even the ones that have been closed out may still be reflected in your credit report and those dates are still counted. Eventually they'll filter off your report, but that could be it. Also, it could also be that your auto loan was for a greater amount than his student loan. </p> https://boards.hellobee.com/topic/credit-score#post-1715626 Mon, 23 Jun 2014 07:52:08 +0000 MrsTiz 1715626@https://boards.hellobee.com/ <p>@PurplePumps: I don't think so.. my parents have outrageously high credit scores while DH and I have mid/upper 700's. My dad just bought a new car about 2 months before DH and I did and we got the same interest rate as him. :) </p> https://boards.hellobee.com/topic/credit-score#post-1715539 Mon, 23 Jun 2014 06:16:35 +0000 looch 1715539@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: This is why I kind of dislike credit scores! All the reporting agencies keep their "formula" proprietary, so you'll never be able to figure it out, which is completely ridiculous if you are trying to educate people about credit!</p> <p>My husband and I have only had joint finances in the US for a year, and his credit score is about the same as mine, so, to say I am a skeptic is an understatement! </p> https://boards.hellobee.com/topic/credit-score#post-1715352 Sun, 22 Jun 2014 21:17:11 +0000 dc yoga bee 1715352@https://boards.hellobee.com/ <p>@PurplePumps: I personally have no idea. I handle the legal stuff, and DH is an accountant/auditor and handles the number crunching ;) The lender told us as long as you have a 640, you will get approved, and as long as you have a 700 you will get a good rate. We ended up signing another lease since we didn't find anything in the area we want to be in, so we won't be home searching again until next spring! </p> https://boards.hellobee.com/topic/credit-score#post-1715349 Sun, 22 Jun 2014 21:14:10 +0000 PurplePumps 1715349@https://boards.hellobee.com/ <p>@dc yoga bee: Interesting, I've never heard of that. I don't see the need to get to 800 either though. Would someone with a 800 really get a better rate than say a 750? </p> https://boards.hellobee.com/topic/credit-score#post-1715348 Sun, 22 Jun 2014 21:09:25 +0000 lawbee11 1715348@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: Lol. Do yo happy dance! It basically means that if you don't make your car payments your car can be repossessed, but if he doesn't make his student loan payments they can't repossess his degree. </p> https://boards.hellobee.com/topic/credit-score#post-1715345 Sun, 22 Jun 2014 21:07:14 +0000 MamaMoose 1715345@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: it's not an exact science so there may not be a "real" reason if the numbers are very similar. And it might flip flop over time. My husband and I have also had joint finances for a loooong time. The last time we bought a car he was a few points higher than me, just this week we were pre approved for our mortgage and I was a few points higher than him. </p> https://boards.hellobee.com/topic/credit-score#post-1715340 Sun, 22 Jun 2014 21:02:28 +0000 Mrs. Jump Rope 1715340@https://boards.hellobee.com/ <p>@lawbee11: I have no idea what that means but I love telling him my score is higher :silly: it's only by a handful of points but enough to make me do a happy dance. </p> https://boards.hellobee.com/topic/credit-score#post-1715339 Sun, 22 Jun 2014 20:59:11 +0000 lawbee11 1715339@https://boards.hellobee.com/ <p>@Mrs. Jump Rope: Hmm that's odd. A car loan is secured credit and a student loan is unsecured, so maybe that's the reason. </p> https://boards.hellobee.com/topic/credit-score#post-1715334 Sun, 22 Jun 2014 20:53:55 +0000 Mrs. Jump Rope 1715334@https://boards.hellobee.com/ <p>@lawbee11: I have not. </p> https://boards.hellobee.com/topic/credit-score#post-1715332 Sun, 22 Jun 2014 20:52:14 +0000 lawbee11 1715332@https://boards.hellobee.com/ <p>@Kimberlybee: :grin: We just had a financial advisor come talk to everyone at our office and he gave us lots of helpful info (including all this about credit scores). </p> <p>@Mrs. Jump Rope: Have you had a credit card longer than he has? </p> https://boards.hellobee.com/topic/credit-score#post-1715328 Sun, 22 Jun 2014 20:50:37 +0000 dc yoga bee 1715328@https://boards.hellobee.com/ <p>@PurplePumps: Our lender told us to carry a rolling $15 balance. We were paying them off in full each month (only use it for groceries and bills and promptly pay). We have great credit, and pay the balances in full like you. He told us a tip is to carry $15 each month helps show you can manage debt and will get us into 800s. He was like, mind you DON'T carry $$$$$ each month and not pay it off. $15 bucks rolling each month is sufficient. </p> https://boards.hellobee.com/topic/credit-score#post-1715325 Sun, 22 Jun 2014 20:47:33 +0000 Mrs. Jump Rope 1715325@https://boards.hellobee.com/ <p>My husband and I have all joint accounts, with two exceptions. I had a small auto loan before we got married and he had a small balance on his student loan. </p> <p>My credit score is higher than his. What could account for that? </p> https://boards.hellobee.com/topic/credit-score#post-1715323 Sun, 22 Jun 2014 20:44:55 +0000 PurplePumps 1715323@https://boards.hellobee.com/ <p>I think using and paying off a credit card monthly actually helps to show payment history too. I'd never had debt of any kind to show any sort of payment history but used and paid off credit cards every month for years and my credit score was in the mid 700's when I finally checked to buy a house. </p> https://boards.hellobee.com/topic/credit-score#post-1715313 Sun, 22 Jun 2014 20:37:23 +0000 Kimberlybee 1715313@https://boards.hellobee.com/ <p>@lawbee11: You are always so quick and helpful! That's a great outline. Thanks. </p> https://boards.hellobee.com/topic/credit-score#post-1714883 Sun, 22 Jun 2014 12:34:01 +0000 sunny 1714883@https://boards.hellobee.com/ <p>Your credit score is based on the following components.<br /> [attach=2232/14/n7kzgp.314x140.ce_scorebreakdown.png]</p> <p>I found that my credit score increased once I had a mix of credit lines (e.g. adding a car loan and mortgage bumped it up significatnly). I also have really low utilization % which also contributes to a higher score (e.g. using only 5% of my total available credit). It's not super clear, but the "Amounts Owed" section is based upon utilization. </p> <p>More reading: <a href="http://www.myfico.com/crediteducation/whatsinyourscore.aspx" rel="nofollow">http://www.myfico.com/crediteducation/whatsinyourscore.aspx</a> </p> https://boards.hellobee.com/topic/credit-score#post-1714877 Sun, 22 Jun 2014 12:26:48 +0000 doodlepoodle 1714877@https://boards.hellobee.com/ <p>@autumnlove: How dare you get a new picture!? I was so confused at first! ;-) </p> <p>@lawbee11: Oh that's a great table of info! Thanks! </p> <p>@Bookish: HAHA! Maybe I'll start using the one I already have...</p> <p>I'm feeling pretty good about my score based on this info! Considering I don't really have anything other than student loans and one CC I haven't used in 3+ years! </p> https://boards.hellobee.com/topic/credit-score#post-1714875 Sun, 22 Jun 2014 12:24:45 +0000 Bookish 1714875@https://boards.hellobee.com/ <p>BAHAHA I'm so proud of you, you checked it off your list! Anything in the 700s is a good score. In your case, one of the reasons yours might not be higher is because you *don't* have debt. Sounds crazy, but they score you on your longest line of credit, and how much of said credit you are using. So in some cases, not having/using a credit card can actually ding your score!</p> <p>P.S. Don't tell R I told you to get a credit card. </p> https://boards.hellobee.com/topic/credit-score#post-1714869 Sun, 22 Jun 2014 12:20:39 +0000 lawbee11 1714869@https://boards.hellobee.com/ <p> [attach=1395/14/n7kyuf.542x287.image.jpg] [attach=1395/14/n7kyuh.567x277.image.jpg] https://boards.hellobee.com/topic/credit-score#post-1714868 Sun, 22 Jun 2014 12:20:03 +0000 matador84 1714868@https://boards.hellobee.com/ <p>700-800 is good. Length of debt-credit, a certain number of accounts open/closed. </p>