Credit Score is Climbing…

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Slow but sure!

In January of 2012 it was a whopping

555!

It’s climbing.

This explains FICO:

  • How can I Rank My Score?
  • Scores are assigned a numeric value of between 300 and 850. Here is the general scale and what the scores may mean:
  • 700 and above: Excellent / Very Good Credit. You are considered a low credit risk by institutions and would generally qualify for the lowest interest rates and repayment terms.
  • 680 -699: Good Credit. You will usually be approved for loans with favorable terms.
  • 620-679: Reasonable Credit. You are a moderate credit risk, and while you won’t usually be refused credit, you will not be able to borrow at the best rates.
  • 550-619: Poor credit. You may have to shop around to find a lender willing to approve an application for you, and your loans will be quite expensive.
  • below 550: Very bad credit. You are considered a high risk customer and will have difficulty finding lenders. You will have to look seriously at some strategy of ‘credit repair’.

Maybe by the time I get out of this mess, it will be in the 700s.

I am not worried about it, I don’t need it now anyway.

It’s just kind of interesting to see it slowly but surely increase with the use of one itty bitty credit card reporting!

Kid is off to a tourney this weekend but I do hope to post about the 52 Week Challenge.  I need to try to catch up!

How you doing?

xoxoxoxox

DebtGirl

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4 thoughts on “Credit Score is Climbing…

    • https://sixtypayments.com/2014/01/19/update-2/
      Hi Patti,
      Copy and paste that link into your browser if it doesn’t work from here. It took me awhile to find the post for your but I wanted you to see it. I ended up opening a card that is really reasonable for someone in my position and it has helped!! I cancelled the Authorized User card. Long story, but my cousin got sick and it just didn’t help me at all, so I didn’t want to stress him out for nothing!
      Nice to see you!!!!
      xoxoxoxo

  1. It is a very good thing that you are working on your credit and implementing a smart financial plan. Your score will continue grow when you practice smart and responsible financial solutions. Keep up the good work, you will be glad that you did.

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