quote:

Originally posted by Tyrone:
Nope. My score's in the 900 series from all 3 credit bureaus. And I make it a rule to pay my stuff off and on time unless a compelling personal circumstance nixes it.

That's pretty good on a scale that goes up to 850.

Anyway, Shine, two questions:

What is the benefit of having such a large line of credit?

What additional benefits do you get once your credit score has crossed the say 720-750 range?

In both questions, it is more to ask whether there is a cut off level where you get little to no additional benefit or diminishing returns?

quote:

Originally posted by lil_rattler:

quote:

Originally posted by Tyrone:
Nope. My score's in the 900 series from all 3 credit bureaus. And I make it a rule to pay my stuff off and on time unless a compelling personal circumstance nixes it.

That's pretty good on a scale that goes up to 850.

Anyway, Shine, two questions:

What is the benefit of having such a large line of credit?

What additional benefits do you get once your credit score has crossed the say 720-750 range?

In both questions, it is more to ask whether there is a cut off level where you get little to no additional benefit or diminishing returns?

Well, in my situation, I had about $9000 in balances with about $25,000 of total credit lines. So that's about 36%. That was maybe a month or 2 ago. (in college, I was once at about $12,000/$13,000), which is VERY dangerous. Anyway, now I am about $9000/$56,000. The utilization now is about 16%. That is VERY good. My scores have went up because my debt to limit ratio is so low. If you have $5000/$10000, that's 50%. But $5000/$50000 is 10%. That's not as dangerous to the creditor. But I can understand the people who say that people with too much available credit may look bad to creditors because they can access that credit at any time.

quote:

Originally posted by lil_rattler:

quote:

Originally posted by Tyrone:
Nope. My score's in the 900 series from all 3 credit bureaus. And I make it a rule to pay my stuff off and on time unless a compelling personal circumstance nixes it.

That's pretty good on a scale that goes up to 850.
Anyway, Shine, two questions:

What is the benefit of having such a large line of credit?

What additional benefits do you get once your credit score has crossed the say 720-750 range?

In both questions, it is more to ask whether there is a cut off level where you get little to no additional benefit or diminishing returns?

I was thinking he was referring to an international credit rating system cause we all know the ones here go up to 850

[/QUOTE]

Well, in my situation, I had about $9000 in balances with about $25,000 of total credit lines. So that's about 36%. That was maybe a month or 2 ago. (in college, I was once at about $12,000/$13,000), which is VERY dangerous. Anyway, now I am about $9000/$56,000. The utilization now is about 16%. That is VERY good. My scores have went up because my debt to limit ratio is so low. If you have $5000/$10000, that's 50%. But $5000/$50000 is 10%. That's not as dangerous to the creditor. But I can understand the people who say that people with too much available credit may look bad to creditors because they can access that credit at any time.[/QUOTE]

Shine,

Do you have any student loan debt? because you still have to count that in your debt to equity ratio.

This message has been edited. Last edited by: gsu4life,

quote:

Originally posted by Tyrone:
Nope. My score's in the 900 series from all 3 credit bureaus. And I make it a rule to pay my stuff off and on time unless a compelling personal circumstance nixes it.

Wow you must have the James Bond Credit rating....

on the real.....Shine I went to BestBuy....came with 4K in credit....I was like whoa...need to check my scores....must be doing something right......

Thanks bro. SHINE. I will spread and share da word.

quote:

Originally posted by THE DREAMER:
Thanks bro. SHINE. I will spread and share da word.

Here's a pretty interesting thread. There are many people there who have went from having a store card to having American Express within a matter of a few months.

http://creditboards.com/forums/index.php?showtopic=214883

quote:

Originally posted by lil_rattler:

quote:

Originally posted by Tyrone:
Nope. My score's in the 900 series from all 3 credit bureaus. And I make it a rule to pay my stuff off and on time unless a compelling personal circumstance nixes it.

That's pretty good on a scale that goes up to 850.

Transunion and Equifax must be very negligent or I misread because they (Equifax) put up 922 on my very first one. Maybe that And you're right. But either way, I'm good.

quote:

Originally posted by #1FAMUAN:
I was thinking he was referring to an international credit rating system cause we all know the ones here go up to 850

Apparenty we all didn't/don't and Transunion and Equifax are/were slipping when they sent those freebies in '01. And now that think about, I'm beginning to see a lot of scams now with 900 series too.

Thankfully I learn something new everyday because just look for discrepancies.

quote:

Originally posted by Que3KAA:

Wow you must have the James Bond Credit rating....

Now that would be something big

This message has been edited. Last edited by: Tyrone,

Sallie Mae is screwing me like i'm a drunk white girl leaving a party. I was paying them mofos and they kept telling me I needed to increase my monthly payment. I'm like man WTF i'm paying TWO other loans.

#1. Who is this?
#2. Why is it considered Why Is It material?

quote:

Originally posted by Alpha72:
#1. Who is this?
#2. Why is it considered Why Is It material?

You lost me...

I'm looking through that site now. It's some good knowledge up there, had me looking through my scores to see what I need to do.