Well I just checked my credit score, and its ...

[Pitman]

only 701!!!!!!!!!! my face is like at the moment. I was expecting my score to be in atleast in 800s. Apparently I missed 3 payments on my student loan which must be incorrect because I'm always on top of my loan. In the 3 years I've been paying off my loan I probably missed on payment due to a mistake on the banks part. And it shows one payment missed with one of the paid credit cards, which is closed but I was told that can affect the credit score as well.

Its sad to say, but I'm really scratching my head on my why my score is so "low", but best believe tuesday morning, I'll be on phone with many creditors to acquire the answer.

[maat55]

If your only three years into your SL, your score could be lower due to short time period.

[mrpaseo]

That's true, last time I looked all my FICO scores were right at 800, with PERFECT credit I was concerned about why it was not higher. As it turns out, they consider having perfect credit for 10 years is not long enough to give a higher rating.

I found that odd.
Ray

[banditfist]

I checked mine a year ago; 790. I sold my townhome in 2006 and have rented ever since. I have no other loans. Paid cash for my car. Pay my credit card off every month. I have well over six-figures in liquid investments.

I am 100% sure that my credit score has gone DOWN in the last year.

When the real estate market starts to go up (2-3 years at a minimum), I will probably have to take out a car loan to start building my credit back up. Absolutely pisses me off that I will essentially pay the banks interest to get my credit score back up. Ridiculous! But, I have to remember that a credit score is a rating on how you pay money back, not how good a saver/investor/money manager that you are.

[MaxPowers]

I have a similar problem. not a thread jack
My score is 609. Cosigned on my ex's car loan that she missed payments and then voluntarily surrendered it to the bank. She also went over the limit on an old navy card in my name.
I am about to get a secured personal loan for 5k @ 4.5% to help me build it back up sence I have no other loans. Other than her loan that I am not going to pay for her. Is this a good move to make? Can this help?
I also hear that if your name is on someone else's credit card, it will show up on your credit report and you will essentially get credit for when they pay off their credit score. If this is true, my dad said he would put me on his card to help my score.

[kork13]

yes, having and paying a secured loan will help your score, so long as you're regular with it. If looking to raise your score, I'd just stay on top of (or get and then stay on top of) your credit card(s). That way, as long as you pay in full every month, you continue to show credit worthiness without having to pay interest.

One thing to point out, though.... Do you need your credit built up in any sort of a hurry like this, through getting the secured loan? Unless you're looking to buy a car or a home or something similar within the next year or 2 that you'll need a good credit for, it may not be necessary to use the secured loan. If you just want to repair your credit slowly (but for no immediate purpose), you can do that just as easily with responsible use of credit cards.

As for the thing with your father, I think Fair Isaac (or the credit agencies, or somebody) recently changed their system to prevent this... Don't know for sure, but I don't think this works anymore...