How are credit ratings calculated?
81582
The credit bureaus don't disclose their exact credit score calculation formulas, so it's hard to directly estimate the impact of the scenarios you laid out.  However, below is the general weighting of the factors that go into a credit score calculation:\n\n35% - An individual’s history of making credit payments on time\n\n30% - The total amount of debt being carried along with available credit\n\n15% - The age of an individual’s open credit lines (more history is better) \n\n10% - The frequency with which someone applies for new credit\n\n10% - Wild card factors such as the types of credit lines
18471
They vary but are usually higher than the first. I'd say somewhere around 10% to 12% is a good ballpark. Of course credit history has something to do with this as well.
624423
If you are shopping for major investment loans, like for homes or cars, all inquries made within a 14 day period count as 1 hard inquiry. (as long as they are all the same kind of inquiry) This rule does not apply to credit cards.\n\nBut otherwise, each hard inquiry can shave 2-50 points off of your credit score.\n\nSo when shopping for credit, you must do your homework ahead of time, and organize your efforts accordingly.\n\nTake care,\n\nI.C. Jackson
852326
To the best of my knowledge creditors only report every quarter. I get quarterly reports and I've had my score go up as much as 8 points within a three month period.
1186750
WHAT THE HECK DOES THIS HAVE TO DO WITH CREDIT
492799
Usually, I think anyway, GPA is calculated by letter grade, at least that's how it was done at my high school. For example: 90-100=A which would be 4 points. 80-89=B which would be 3 points. 70-79=C, 2 points. 60-69=D, 1 point. Anything lower=0. As far as college goes, I have yet to figure that out because you now also include how many credit hours each sourse is worth.\n\nAnyway, so after you figure out all the points you earned, you add them up and divide by the number of classes you had. And that equals your GPA.\n\nFor example:\nLEt's say you got 3 A's and 2 B's. 3 A's would be 12 points, 2 B's would be 6 points. So that's 18 points. Divide that by 5 (the # of classes) and that would equal 3.6
799898
Analyze credit \n\nlook: http://www.expert-credit-advice.com/request_analysis.htm
1080999
what dose that have to do with credit
124150
It really depends on the credit company you are using.  I use LandAmerica.  And with them, I first figure out what can be done to raise the credit score.  (They have a system that allows you to see what needs to be done to obtain a certain score)  Its just an estimate, but pretty helpful.  Once that is done, you make the changes that are needed.  (Pay off that credit card, move around balances, get a letter from a collection agency that says something was mis-reported... and so on)  Once you have your proof that your credit needs to change, you supply that to the credit company and they supply it to the different Bureau.  I think the cost from company to company is about the same.  (About $25 per Credit Bureau per line item) Once that is all sent in, it will take about 5-7 business days.  Good luck!
909911
It might be helpful for you to get educated on how the credit score is calculated. Then you can see the whole picture. See Below:
686768
This is an online simulator that lets you punch in variables to see how it will effect your FICO score.  I've found it very helpful & your score does quickly rise when you pay on time & more than the minimum balance on credit cards.\nhttp://www.providian.com/cmc/fico_simulator.htm
133622
credit scores are based on positive : low bal with a hi credit line, paying bills on time, not using all credit avail on all cards etc\nnegative: using credit line available, not paying on time, several late payments, no payments, collections, judgments\n\nI would suggest getting several credit cards and using them and paying them off as fast as you can regularly.  even use them for grocery shopping but if you dont use them wisely, then you wont pay them off...and your score wont raise again.
4551
Each class is worth x number of credit hours. \n\nAnd the GPA system is as follows\n\nA - 4 points\nB - 3 points\nC - 2 points\nD - 1 point\nF - 0 points\n\nSo, if my math class is worth 3 credit hours, and I got an A. And my English class is worth 5 credit hours, and I got a C, the calculation would go as follows:\n\n4 (for the A) * 3 (Credit Hours) = 12\n2 (for the C) * 5 (Credit Hours) = 10\n\nTake the total number (in this case 22) and divide by the total number of credit hours (8)\n\n22/8 is 2.75 which is a high C.
28878
It's a complex algorithm that is kept private by the 3 major credit reporting agencies. But generally speaking, the biggest factors are:\n\n- paying bills on time (positive points)\n- the size of your accounts, the larger ones like mortgages are good, the smaller ones like Target are bad \n- how frequently creditors look into your report (negative points)\n- whether or not you have any judgements or bankruptcies (negative points)\n- keeping your balances below half of the limit (positive points)\n- the frequency of using your cards (if you don't use your credit cards over a long period of time, your score goes down)\n- last, but not least: you need to have at least a few accounts open, but not too many\n\nHope that helps.
416835
A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their bills. Fair, Isaac began its pioneering work with credit scoring in the late 1950s and, since then, scoring has become widely accepted by lenders as a reliable means of credit evaluation. A credit score attempts to condense a borrowers credit history into a single number. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this to be acceptable.\n\ni hope this will help
676735
An average credit score is around 640 - 670.  The top of the scale is 850.  Anything over 700 is good.  Anything over 750 is exceptional.  Anything approaching or over 800 is outstanding.
859271
I have always had good credit, but together me and my husband spent 18 months cleaning up his credit from a 540 score to well over 700 (which is great btw). This was about 4-5 years ago. I only say that to let you know I know what I am talking about. For starters the actual mathematical formula used to determine your credit score is a secret. Which sucks. However, there are guidelines that are very helpful such as :\n•Payment history (35%) – the most important category. Have you made all payments on time and for how long. How many unpaid debts you have that have resulted in alternative action (e.g. bankruptcy, tax liens, collection lawsuits, etc). \n•Amounts owed (30%) – how many lines of credit you have and how much you owe compared with how much you can borrow. \n•Length of credit history (15%) – how long you have had your accounts. \n•New credit (10%) – how many new lines of credit you have. \n•Types of credits used (10%) – do you have a balance of revolving (credit cards) and installment (loans) credit lines. \n\nIf I were do this is what I would do. Get rid of the store cards (close them). Closing them doesn't hurt your credit....what hurts you credit it the fact that you are lowering your overall amount of credit extended to you, and if your balances equal more than 30% of total credit available, you get a ding. But as soon as your balances fall below 30% you get a jump in your score. So KEEP your card for 6500, and keep your balance under 30%, or get it there asap. Then never use more than 30% of your total limit on the card. Personally, I would keep the card, pay it off, and never use it again ata all but keep it open. You want to keep it open because the lenghth of time of open revolving accounts(credit cards) is a plus to your credit score. I have this one credit card that I have had since college. they keep raising the limit hoping I'll go nuts. The limit is now 11 grand. My balanace is ZERO. There fore, i have 11k of credit extended to me, but a zero balance (like i said under 30% is good), and I've had this credit card for about 8 years, so that looks "responsible" on the fico score, and is a plus to your score.\n\nIt's tricky to get used to how it all works, but I spent the time doing it and we went from BARELY being able to buy a house 4 years ago and filling out mountains of paperwork, to have great credit and filling out a one page document, and handing over a down payment to buy our second house.\n\nAnyway, store credit cards are trash! They ALWAYS have high interest rates, and they are only good for the stores they are listed for. You aren't going to be having any clothing emergencies, and if your closet burned down (literally), and you did have a clothing emergency then you could reasonably use your visa.\n\nHaving said all this, can I make a suggestion?\n\nTotal Money Makeover by Dave Ramsey. Go to the bookstore and buy it. You will thank yourself.\n\n\n***********OH YEAH! Don't ask to have you credit limit lowered on the visa (like some others have said on here)! That in itself won't lower your credit rating, but you will have less credit to use to stay under the 30%, and anytime you go over 30% that DOES give you a ding! Remember, credit limit hikes are good for you IF you stay under 30% and don't lose your mind and go nuts a Macy's!