Credit score/report?
Find a Conversation
| Tue, 03-21-2006 - 11:33am |
I have never posted on this board before but I have a few questions. I posted the same message on the debt questions board also. I am 22 years old and graduated from college last May. I recently acquired my credit report and score from the 3 companies. It is the first time I ever looked at my credit report. I knew that in the past I had no credit at all because my father had to co-sign for my car loan in 2002. With paying off some student loans, car loan, and a few credit cards I figured I had to have credit by now, and decided to get my free reports. My reports look good except I have 2 “Potentially Negative Items” in my Experian and Trans Union reports. One store card that I was past due 30 days once, and another Chase cards that was past due 30 days once. This does not show up on my EQUIFAX report at all. I have 15 other accounts in good standing. I also received my credit score and it was 741. The report said it was considered “Fair” credit and I was in the 52% range. But then the summary stated that I may have a hard time getting credit and I may have high interest rates. SO I guess my main questions are is this a good, bad, or OK credit score, and also is the 2 accounts that were past due once going to have a really negative effect? Thanks
Jacky

741 is not a bad score. I think that 750 and up gets the best interest rates. Do you think the 2 "Potentially Negative" items are accurate? If not, I think you can call the companies and ask them to investigate. One potential way to increase your credit score is to become an "authorized user" on your parent's credit card (if and only if they have great credit history). I added my husband as an authorized user to a credit card I have had for more than 10 years, and it very quickly increased his credit score. Just keep making on time payments, and I think your score will probably raise above 750 soon.
I am by no means the expert on this, so I hope that others will also answer your post with their opinions.
Good luck!
Welcome to the board Jacky!
Becky
CL of 4th, 5th & 6th grade Scoliosis