Credit Reports By Experian
2010
My Experian credit report says my score is negatively affected by not having any major credit cards.?
My score is 721 and I want to keep it up there and get it over 730 so I can finance at 0% for a car in April 09. My credit report says that not owning a major credit card negatively affects my score but a new inquiry and new line of credit can also. I’m researching American Express in the meantime and I’m trying to weigh out if I should get the card and take the temp hit of the inquiry and new line of credit or should I just hold off till later and hope that not owning a major credit card isn’t hurting me that much. Help quick I’m filling out the app as I wait for a response.
This is an interesting question. I’m not an expert here, so you might want to consult with your banker on the best ways to up that score. But here are some of my ideas. You might check with your bank see if getting a visa or master card with them might help, but I think it is better to keep the line of credit low.. It could be attached to your checking account, so the money you spend with it, comes from your account, rings up like a credit card, but actually works like a debit card. I think if you have credit cards with high limits, it can also negatively affect your score. I think I would pay off any small bills I had also, so it shows up with fewer creditors.
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