How can I get my FICA score up?

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Postby HappyPuppy » February 17th, 2011, 8:01 pm

How can I get my FICA score up? I never gave it any thought... and have been proud not to be in debt to anyone. I have never purchased anything big - what DH and I do buy, we have paidfor up front. House loan is in my his name as he had the house before me. I have a big fat ZERO FICA score. We have just started up a new business which is entirely in my name and we have (logically I suppose) been denied a few services at the bank due to this zero score.... I joked with the bank agent saying I guess 'I'll' have to buy our next car - to which he said that would help toward my score but I'd be penaized in interest rates due to my score. :?
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Postby iluvk9 » February 18th, 2011, 6:39 am

I don't know, other than I have an excellent score because I own a home, never late on credit cards, and have paid all my loans OFF before they were due. :|

BUT, I can offer this website: http://www.clarkhoward.com/ This guy is on TV here and he is SO FREAKING SMART about money stuff. :dance: Maybe he has your question in his archives.
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Postby Malli » February 18th, 2011, 7:49 pm

if you can borrow a bit of money, set it aside, and then turn around and pay it back, that will probably help. I assume you're referring to your credit rating...
With me, it started with a single credit card my bank gave me with a $500 limit along with a co-signed line of credit for school. After that, I was approved for a medical credit card for a Vet emergency, and then tried applying for a Mastercard.
As I understand it, as long as you pay whatever debt you have back on schedule, your positive credit rating will increase.
The entire reason we were approved for our mortgage was my positive credit rating, as my man has no real credit score.
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Postby mnp13 » February 18th, 2011, 11:41 pm

Yup, get a credit card, use it and pay it off every month. If you can't get a "major" credit card, get a gas card or a store card and start there. But don't apply everywhere, every time someone hits your credit score and denys you it hurts your score.

Talk to someone at the card, and see what they say. Do you ever get "pre-approved" card offers in the mail? Call the number on one of those and talk to someone. Oftentimes, they will approve you over the phone, or tell you that you won't qualify.
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