frugal1

IN a rational word, one would think so, but who can figure how they make these calculations? I sure don't have a clue on it.

In May, your Credit Simulator said that my score would go up ten points if I lowered my credit card debt by $1,000. Since that time, I have lowered my overall debt by over $4,000.00 and lowered my credit card debt by over $3,000.

My credit card utilization is less than 1%. My open credit card debt, which I pay off in full every month, is now only a miniscule $20, for which I receive a grade of "C." Now, my overall credit score has declined from an "A" to a "B."

I'm not blaming creditkarma, they're just doing their job, but it would be nice if I could figure what I might be able to do to raise my score.

In addition, since there are three different credit card reporting agencies (Trans-Union, Experian, and Equifax), by alternating your request throughout the year, you can receive a new credit card report from a different agency every four months, without paying anything. However, unlike CreditKarma, the three agencies will not provide your credit score without a fee.

It has been my experience that some changes require a few weeks to post. One good thing about Credit Karma (among many), is that you can check daily, if you so desire.

It wouldn't hurt to ask them about it, but if they allow you to re-open the account you will have to live with the higher APR.

I had previously complained about the fact that my credit card company (Citi) showed my debt under "credit card utilization," but they didn't report any limit on that card; that made my credit card utilization abnormally high. I posted this information before and the moderator, who is always very helpful, replied back, stating that you were attempting to address that issue.

It appears that the issue has been addressed; unfortunately, it actually makes my situation worse, rather than better. You can see below how I am negatively affected.

Old system:
credit card debt:$492 credit card util.: 2% letter grade: A

New system:
credit card debt: $0 credit card util.: 0% letter grade: C

I know your intention was to reflect a more accurate picture of someone's true credit score but, in my case, the result has backfired. Any suggestions as to what can be done to resolve this dilemma will be greatly appreciated. Thanks, as always.

You can get the answer to that question by using the credit simulator and plugging in the appropriate numbers.

Do not close your retail cc accounts as that will negatively affect your average length of credit. As for whether you should take advantage of the Citi card offer, it depends on what the rate would be after the temporary offer expires.

It will probably take months to notice any difference, but if you pay all of your bills on time and don't do anything to damage your credit any further, it will eventually improve.

Gravity :)

My credit card utilization is shown as 2% in the "overview," but the graph below it shows 7%. Also, my total debt shows 74K for the pie chart, but the related graph indicate a debt of 76K. Why are the figures in the "overview" and the "pie chart" closer to the correct figure than the graphs? Is it because the graphs are updated at a later date? Thank you for the valuable service you provide.

jodyg1975 wrote: "This is the only time I will say lie..." and "it isnt (sic) that are lieing..." IMHO, for you to advise someone that they should challenge information they already know is correct is deception, no matter what you call it.

I do not think your advice should be followed by someone wanting to improve his/her credit score. There are more honorable ways of raising credit scores that do not include deception and outright lying. But that's just my opinion.

There are three free credit card reports you can receive once a year: Experian, Equifax, and Trans-Union. If you stagger your request for them you can receive a new credit card report every four months. Credit Karma's report can be updated daily, if you so choose.

Thanks for the info. I would stop using it, but I don't want to give up that 1% rebate.

Thank you very much, CK Moderator, for your help on this. Also, please thank everyone at Credit Karma for helping us consumers. We are all indebted to CK, and unlike credit card debt, this is a good thing.

Because Citicard only shows my balance, and not my credit card limit, in their monthly report to to the credit reporting agencies, my credit score is negatively skewed in these areas:

credit card limit: off by 50%
open credit card utilization: off by 83%

When I complained to Citicard about this, they said they would not change their policy. I wonder how many points my score would rise with proper reporting of both card balance and card limit.

I really appreciate the service that Credit Karma provides. It is a great resource to consumers.

Years ago, I was in a similar situation as yours, though the numbers (debt and income) were much lower. For what it's worth, I paid the minimum payment on all of the debt, except the debt with the highest interest rate. I paid that debt as much as I could each month until it was paid off. Then I focused on the next highest rate, and so on. Just a thought.

I just recently discovered that Citicard reports my balance, but they do not show my $7200 credit limit. Due to their negliglence my credit card utilization appears artificially high. I complained to Citicard about it, but they say their policy is to not report the limit on the type of card I have, just the balance. I complained to cust/serv on the phone, and in an e-mail, both with no results. They say they will not change their policy. Luckily, I pay off the balance in full each month. To thwart their policy, I'll now start paying that balance a day or two prior to the statement closing date, so it'll show a zero balance. Take that, Citi!

I'll start paying cash when the merchants offer 1-2% rebates for cash. Until that happens, I'll use the credit card :)

My total credit limit is $30,300 but Karma only reports $23,100. The only OPEN credit card debt that IS reported* is on a $7,200 credit line that is NOT reported. What can I do to get the additional credit line included in my total?

(*I also have $4,700 debt at 2.99% fixed rate on a closed acct.)

My mortgage debt has not been reduced on my profile ever since I refinanced last year, even though the payments come directly out of my checking account and are always on time. Ck Moderator, is there anything I can do to get the problem rectified? Thanks.

Far be it from me to dispute what the "CK Moderator" writes, but my report shows an 53 total accounts, with only 4 open, and I received an "A" under number of accounts. Evidently, they did not judge my 49 closed accounts as a negative.

make your mom pay for it.

Once your score reaches 750 or above, the only value of a higher score is to stroke your ego.