credit score

michie1January 21, 2005

I just pulled my credit report yesterday & got a plus score, which I believe is my credit score. Is that the same thing as a FICO score?

My plus score is a 730 & I do have 2 things to correct on it which I'm not sure if that affects or will help raise the score, but other than that, is there any other way to raise your score? The rating is good but I want to strive for excellent. Also I have a bancruptcy on it from 10 yrs ago still listed - isn't that supposed to be off after 7 yrs?


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The listing showing the bankruptcy can remain on your credit report for 10 years (or in some cases longer, given when it was actually final and reported, etc.), but my understanding is that it no longer goes into computing the actual score after 7 years.

Raising your credit score is primarily a matter of opening a reasonable number of accounts and pay them faithfully. Excessive credit inquiries (caused by applying for too much credit) lower your score, as do too few credit inquiries. The credit bureaus don't release the specific formula they use to factor all of these things in an come up with a score, because if they did people could "game" the system and pump up their score to an artificially high level.

But a score of 730 is a good score, so it sounds like you're doing something right. If you keep doing as you're doing now, your score should probably continue to increase if you avoid making any payments late.

    Bookmark   January 22, 2005 at 2:45PM
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