http://news.mortgagecalculator.org/keep-an-eye-on-your-credit-score/ Helping You Buy Your Home Thu, 04 Feb 2010 15:31:01 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://news.mortgagecalculator.org/keep-an-eye-on-your-credit-score/comment-page-1/#comment-2389 Bill Tue, 27 Oct 2009 20:08:50 +0000 http://news.mortgagecalculator.org/?p=165#comment-2389 I cannot believe the number of errors and misguided pieces of advice overwhelming this article! In all my years of helping people to boost their credit scores, this article is the most obvious offender of perpetuating disinformation regarding the credit reporting and scoring world. I wonder if Adam even bothered to research his recommendations. All you need to do is go to MyFICO.com’s Education Center to see that closing unused credit cards actually has a very serious potential of killing your credit score; particularly if you have other outstanding credit card debt, or the unused account is an old one. Combining your debts into one card CAN hurt you as the one card being over a 50% limit to balance ration will have a direct impact on your overall score. By the way, it’s called “utilization ratio”, not rate. What an AWFUL article! I cannot believe the number of errors and misguided pieces of advice overwhelming this article! In all my years of helping people to boost their credit scores, this article is the most obvious offender of perpetuating disinformation regarding the credit reporting and scoring world. I wonder if Adam even bothered to research his recommendations. All you need to do is go to MyFICO.com’s Education Center to see that closing unused credit cards actually has a very serious potential of killing your credit score; particularly if you have other outstanding credit card debt, or the unused account is an old one. Combining your debts into one card CAN hurt you as the one card being over a 50% limit to balance ration will have a direct impact on your overall score. By the way, it’s called “utilization ratio”, not rate. What an AWFUL article!

]]>