Credit Card History is 15% of your FICO Score.
Your goal is to have 8 years of history to receive 40 points to your FICO Score.
If you get an offer to do a “transfer balance” do it, but don’t close the account you transferred from. It will lower your score.
Make sure to use your credit cards at least once every 2-6 months so the creditor does not close the account.
Experian uses something called “Collection Triggers” What this does is monitor your credit activity. Let’s say you were unemployed, and you started working again, and making payments, Experian could send this information on a daily basis to the collection agencies that sign up for their “Debt Collection Tools” Product.
These collection triggers monitor Charge-Off accounts, early delinquencies, and uncollectable post judgment accounts. Any activity on any of these triggers the collection agencies and they come after you. This is something I want you to be aware of. The Credit Reporting Agencies are not on your side.
Financial Education Services
Office: 888-977-1222
“The Credit Dispute Process is Proven and THE EDUCATION IS PRICELESS!”
Akridge, Mandy (2009) Negotiate & Settle Your Debts, CA
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