4 People Helped
Member Since: September 2015
Dont worry about that drop if you plan to pay off your credit card. It will recover back up. Credit utilization is 30% of your score so when you use too much of your availible credit your score can take a hit. Conversly if you pay your balances low you will see an increase.
Gurneyx's response was:
On your credit report it will show a mortgage that you didnt do
7 years they stay but will stop hurting you so bad after 2 years.
this happens sometimes when you try to remove a late payment or something then the account being a problem. Once you remove it is gone!
it could help if they are close to their max limit. Credit utilization is important and will have a huge impact on credit. Also getting a loan will help diversify your type of credit.
Are they negative acccounts? Even if they are negative they will not affect your score after 7 years. also removing an older account can hurt your score as well. Length of credit is important as well.
yes any negative info will be removed after 7 years
pay your cards down to below 10% utilization and it would help raise your scores.
I would pay down credit cards it will help drive your credit store up. If you pay off the loan in full it could actually make your score go down.
simple answer is risk... they want to see if you are irresponsibile and your credit report will show them. It also gives them the ability to make more money off you because they charge you more if you are higher risk.