For all you smart guys what is the Highest credit rating you can get? and

[Bmaez]

I had a negative on my credit that i wanted removed is there a way to do this.

[CaliforniaTitan]

Yes, you can have a neg removed if it is erronously put there. Not, if it is 'earned' so to speak.

It is also wise to submit the request to all three credit services (Experian etc) as they do not always show the same things on the reports.


Chris

[geece1]

A standard credit score called a FICO,Fair Issac,Beacon or any of the other names runs from 300-850. This number is a "snapshot" of your credit at a particular time. It is based on a complex formula based on the information contained in your credit report.

Any "negatives" on your credit report will only be removed by the creditor and usually only because there was a mistake.

A majority of lenders use FICO scores as one method to estimate an applicant's credit risk. People with high FICO scores are likely to repay loans and credit cards more consistently than people with low FICO scores. Although FICO scores are remarkably predictive, no one can predict with certainty whether or not an applicant will repay a credit account.


This list demonstrates the delinquency rate (or credit risk) associated with selected ranges of the FICO score. In this listing, the delinquency rate is the percentage of borrowers who reach 90 days past due or worse (such as bankruptcy or account charge-off) on any credit account over a two-year period. The graph clearly illustrates the predictive power of the FICO scores, which is why lenders rely on them for credit decisions.
300-499 = 87%
500-549 = 71%
550-599 = 51%
600-649 = 31%
650-699 = 15%
700-749 = 5%
750-799 = 2%
800-850 = 1%

I know it's more than you wanted to know, but it illustrates why only the very high scores (700+) get the better rates. I could go on and on on the subject but won't.

Originally Posted by Bmaez

I had a negative on my credit that i wanted removed is there a way to do this.

[bestatchess]

Originally Posted by Bmaez

I had a negative on my credit that i wanted removed is there a way to do this.

There is a technique (that I certainly would not endorse or recommend, but that I have heard about) where an unscrupulous individual protests the negative item (this would not apply to certain types of negative items such as a bankruptcy filing) with the credit reporting agencies (even though the negative item is genuine and accurate). They in turn have to send a form to the entity placing the negative item on your credit. That entity has some period of time to respond, or else the credit reporting agency has to remove it from your credit report. I have heard that these forms frequently get lost in the shuffle and not returned.