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9/22/2017 12:11:25 AM
Posted: 10/3/2005 8:55:54 AM EDT
[Last Edit: 10/3/2005 3:40:06 PM EDT by SP1Grrl]
Link Posted: 10/3/2005 9:03:50 AM EDT
Link Posted: 10/3/2005 9:11:42 AM EDT
As I understand it, part of your score reflects the amount of debt you have compared to the amount of credit you have available.

It's supposed to be better to have, for example, $2500 in CC debt with an available balance of $10000 than to have $2500 in CC debt with an available balance of $5000.
Link Posted: 10/3/2005 9:15:04 AM EDT
Link Posted: 10/3/2005 9:27:33 AM EDT
My, my what a lucky girl you are. Long term credit cards (you say that they have been open for decades) with high limits and NO debt on them will vastly increase your credit rating. Do not close them, keep them open as your credit rating will skyrocket.

Your percentage of debt to available credit will be extremely favorable. Do a search and you will see I'm right.

Although I am flummoxed to understand how these cards suddenly appeared on your credit report--could you enlighten me on how that occurred?
Link Posted: 10/3/2005 9:36:05 AM EDT
This is something I don't understand. If you did not sign for the cards, how can they be on your report? When some one dies, does next of kin aquire the deceased debt? How does that work?

Kris
Link Posted: 10/3/2005 9:41:01 AM EDT
[Last Edit: 10/3/2005 9:43:12 AM EDT by prk]
And yet on another thread (about paying off / closing accounts) it was claimed that closing accounts degraded your FICO score.

There are two ways of looking at credit you don't particularly need:
1. Nice to have (though in your case, Dad's might not really be available to you)
2. Risky - undisciplined use could get you in DEEP. Some creditors may take this view; not sure how the Fair Isaacs Company handles that.



My guess is that she might have gotten the association by being the executor of her father's estate.
Link Posted: 10/3/2005 3:39:33 PM EDT
Link Posted: 10/3/2005 4:11:09 PM EDT
get rid of those items. Your credit report should be a report on your credit, not your dad's, bless his soul. 1, 2, 3, 4, ....10+ years from now some jackass bill collector might hound you for back payment of unknown debts by your father.
Link Posted: 10/3/2005 4:13:01 PM EDT
You're going to want your credit report as accurate and clean as possible. Get everything cleared up that isn't supposed to be there. Doing so now will clear up a lot of headaches in the future.
Link Posted: 10/3/2005 5:17:54 PM EDT

Originally Posted By AssaultRifler:
get rid of those items. Your credit report should be a report on your credit, not your dad's, bless his soul. 1, 2, 3, 4, ....10+ years from now some jackass bill collector might hound you for back payment of unknown debts by your father.



Not to say that they won't do that anyway...........
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