eugene1946
08-18-2010, 10:33 AM
Очень часто на форуме обсуждается вопрос как поднять кредитные баллы ( credit score) Я думаю эта статья будет полезна для всех. Извините за плохой формат дел. Сделал копию с первоисточника.
- CardRatings.com
- August 17, 2010
5 Common Mistakes That Can Cripple Your Credit Score
Have you ever been surprised when your
dropped? Most likely, it's because you made
one of the five mistakes below. Most people aren't
aware of the impact some of these actions have.
And what's interesting is that it appears that the
higher your FICO score, the greater the drop when
you make a mistake.
#1: Closing an
People often decide to close a account
for one of two reasons. One, they think they have
too many cards and that closing one will increase
their score. Two, their credit limit has been
decreased and they decide the card is no longer
useful to them. But whatever your reasons are,
closing an account can lower your score.
"There's a misconception that having too much available credit lowers your score. FICO scores don't take this into
consideration. But when you close an account, it can often raise your utilization rate and that can lower your score,"
says Barry Paperno, Consumer Operations Manager for .
Your utilization rate is the ratio of your credit to your credit limits. For instance, let's say you have two
cards and one has a zero balance and one has a $1,000 balance. If each card has a $2,000 limit, your total limit
(across both cards) is $4,000. Your utilization rate is $1,000/$4,000 = .25, or 25%. Not fabulous, but not too bad.
Close the account with the zero balance and your utilization rate jumps to 50% ($1,000/$2,000). Obviously, the
amount of the impact on your score will vary according to your individual circumstances, but since the utilization rate
may account for almost 30% of your score, you're FICO score will probably take a negative hit.
#2: Maxing out your credit cards
Many consumers make the mistake of thinking that their credit limit is an invitation to spend until it's gone. Now that
you understand utilization rate, you probably now understand why maxing out your cards is a problem. Let's look at
our example from #1 again. If you max out your two cards, you'll have a $4,000 balance with a $4,000 limit. It's
doesn't take a math genius to quickly figure out that your utilization rate is now 100%.
Your FICO score will take a hit. How much? "It depends on a lot of variables, including what your FICO score was
before you maxed out your cards," says Paterno. myFICO.com recently did a comparison of how much a score
drops when one individual has a FICO score of 680 and the other individual has a FICO score of 780. Maxing out
credit cards was one the "missteps" they used in the comparison.
Results showed that the consumer with the 780 score experienced a 25-45 point drop and the score fell into the 735
-755 range. The person with the 680 score saw only a 10-30 point drop and the score fell into the 650-670 range.
#3: Making late payments
One problem with making late payments is that, depending on the terms and conditions of your card, you might
trigger the penalty APR. The other problem with a 30-day or more delinquency is that it can make your score drop
like a rock. "Someone with a 780 score could experience a drop of 100 points or more with a 30-day delinquent
payment. If your score is in the 680 range, expect to lose about 60-80 points," says Paterno. Now, if this late
payment stretches into collections, then expect a really big drop.
Print Close
FICO
score
account
credit card
myFICO.com
card balances
FOXBusiness.com - 5 Common Mistakes That Can Cripple Your Credit Score Page 1 of 2
http://www.foxbusiness.com/personal-finance/2010/08/17/common-mistakes-cripple-credi... 8/18/2010
#4: Impulsively opening accounts to save 15%
This happens every holiday season, doesn't it? Whether it's a Labor Day sale or Black Friday, you're standing in line
in your favorite department store holding a lot of merchandise, and then the cashier tempts you with a "get 15% off
if you open an account today" offer. When you open a new account, this results in a hard inquiry, which affects your
score. But that's only part of the problem.
"Typically, inquiries knock only about five points off your score. The bigger problem is opening an account with a
and putting yourself in a situation where you get behind on a payment," says Paterno. If you're on
the bubble between having good credit and excellent credit, those five points can mean a lot. And of course, if you
end up with late payments, matters deteriorate from there.
#5: Not understanding the importance of the length of credit history
This mistake often ties into the #1 mistake on this list. Sometimes when people close a card, they close one they've
had a long time. The length of your credit history makes up 15% of your FICO score. Now, FICO scores are
calculated based on the average length of time you've had your . The score considers both your current
accounts and any closed accounts still included on your credit report. Credit bureaus typically keep account
histories on your credit report for years after you close the account or pay off the loan. "If you close a card you've
had for ten years, this can eventually bring down the average length of your history," says Paterno.
Read the original article at CardRatings.com:
For FOXNews.com comments write to
; For FOX News Channel comments write to
© Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
Copyright 2010 FOX News Network, LLC. All rights reserved.
All market data delayed 20 minutes.
high interest rate
credit cards
credit
5 Common Mistakes That Can Cripple Your Credit Score
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http://www.foxbusiness.com/personal-finance/2010/08/17/common-mistakes-cripple-credi... 8/18/2010
- CardRatings.com
- August 17, 2010
5 Common Mistakes That Can Cripple Your Credit Score
Have you ever been surprised when your
dropped? Most likely, it's because you made
one of the five mistakes below. Most people aren't
aware of the impact some of these actions have.
And what's interesting is that it appears that the
higher your FICO score, the greater the drop when
you make a mistake.
#1: Closing an
People often decide to close a account
for one of two reasons. One, they think they have
too many cards and that closing one will increase
their score. Two, their credit limit has been
decreased and they decide the card is no longer
useful to them. But whatever your reasons are,
closing an account can lower your score.
"There's a misconception that having too much available credit lowers your score. FICO scores don't take this into
consideration. But when you close an account, it can often raise your utilization rate and that can lower your score,"
says Barry Paperno, Consumer Operations Manager for .
Your utilization rate is the ratio of your credit to your credit limits. For instance, let's say you have two
cards and one has a zero balance and one has a $1,000 balance. If each card has a $2,000 limit, your total limit
(across both cards) is $4,000. Your utilization rate is $1,000/$4,000 = .25, or 25%. Not fabulous, but not too bad.
Close the account with the zero balance and your utilization rate jumps to 50% ($1,000/$2,000). Obviously, the
amount of the impact on your score will vary according to your individual circumstances, but since the utilization rate
may account for almost 30% of your score, you're FICO score will probably take a negative hit.
#2: Maxing out your credit cards
Many consumers make the mistake of thinking that their credit limit is an invitation to spend until it's gone. Now that
you understand utilization rate, you probably now understand why maxing out your cards is a problem. Let's look at
our example from #1 again. If you max out your two cards, you'll have a $4,000 balance with a $4,000 limit. It's
doesn't take a math genius to quickly figure out that your utilization rate is now 100%.
Your FICO score will take a hit. How much? "It depends on a lot of variables, including what your FICO score was
before you maxed out your cards," says Paterno. myFICO.com recently did a comparison of how much a score
drops when one individual has a FICO score of 680 and the other individual has a FICO score of 780. Maxing out
credit cards was one the "missteps" they used in the comparison.
Results showed that the consumer with the 780 score experienced a 25-45 point drop and the score fell into the 735
-755 range. The person with the 680 score saw only a 10-30 point drop and the score fell into the 650-670 range.
#3: Making late payments
One problem with making late payments is that, depending on the terms and conditions of your card, you might
trigger the penalty APR. The other problem with a 30-day or more delinquency is that it can make your score drop
like a rock. "Someone with a 780 score could experience a drop of 100 points or more with a 30-day delinquent
payment. If your score is in the 680 range, expect to lose about 60-80 points," says Paterno. Now, if this late
payment stretches into collections, then expect a really big drop.
Print Close
FICO
score
account
credit card
myFICO.com
card balances
FOXBusiness.com - 5 Common Mistakes That Can Cripple Your Credit Score Page 1 of 2
http://www.foxbusiness.com/personal-finance/2010/08/17/common-mistakes-cripple-credi... 8/18/2010
#4: Impulsively opening accounts to save 15%
This happens every holiday season, doesn't it? Whether it's a Labor Day sale or Black Friday, you're standing in line
in your favorite department store holding a lot of merchandise, and then the cashier tempts you with a "get 15% off
if you open an account today" offer. When you open a new account, this results in a hard inquiry, which affects your
score. But that's only part of the problem.
"Typically, inquiries knock only about five points off your score. The bigger problem is opening an account with a
and putting yourself in a situation where you get behind on a payment," says Paterno. If you're on
the bubble between having good credit and excellent credit, those five points can mean a lot. And of course, if you
end up with late payments, matters deteriorate from there.
#5: Not understanding the importance of the length of credit history
This mistake often ties into the #1 mistake on this list. Sometimes when people close a card, they close one they've
had a long time. The length of your credit history makes up 15% of your FICO score. Now, FICO scores are
calculated based on the average length of time you've had your . The score considers both your current
accounts and any closed accounts still included on your credit report. Credit bureaus typically keep account
histories on your credit report for years after you close the account or pay off the loan. "If you close a card you've
had for ten years, this can eventually bring down the average length of your history," says Paterno.
Read the original article at CardRatings.com:
For FOXNews.com comments write to
; For FOX News Channel comments write to
© Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
Copyright 2010 FOX News Network, LLC. All rights reserved.
All market data delayed 20 minutes.
high interest rate
credit cards
credit
5 Common Mistakes That Can Cripple Your Credit Score
SEARCH GO
Click here for FOX News RSS Feeds
Advertise on FOX News Channel, FOXNews.com and FOX News Radio
Jobs at FOX News Channel.
Terms of use. Privacy Statement.
[email protected]
[email protected]
FOXBusiness.com - 5 Common Mistakes That Can Cripple Your Credit Score Page 2 of 2
http://www.foxbusiness.com/personal-finance/2010/08/17/common-mistakes-cripple-credi... 8/18/2010