topic Re: HELP!!! How to Improve FICO From 711 to 750? in Rebuilding Your Credit

HELP!!! How to Improve FICO From 711 to 750?

improveFICO711to750 — Tue, 09 Oct 2012 19:23:28 GMT

Hi everybody, I just got my FICO from a mortgage company, which showed my scores were: 711(Equifax), 730(Experian), and 750(TransUnion). The bank refused to give me the best rate as my FICO is not as good as above 740(they picked the middle one of 3 scores). I also called some other banks, all of them need 740 to be qualify for best rates.

So I am here to ask your advice to increase my FICO to 750.

I have 7 credit cards, but mostly only use 2 of them, and paid both in full every month, so debt to credit ratio should be <10%; one mortgage account, refinance in Feb., 2011, which is also paid on time every month; 4 inquires, 01/2011, 05/2011, 05/2012, and 09/2012; the worst part is that I have a public record which was a small claim case in 01/2010 and we already satisfied the judgment.( I couldn't believe they even report those $2000 case to credit bureaus and damage my FICO!!!) That all I think could affect my FICO. I know when inquires are taken away from the report, or the time of the public records passes longer, my FICO increase a little. But what else I can do to inprove it except wait?

Any inputs will be appreciate!!

Re: HELP!!! How to Improve FICO From 711 to 750?

jadeite788 — Tue, 09 Oct 2012 19:40:30 GMT

well that small claims hurt you because it is too recent. I hate to tell you this but too much recent credit, inquiries, or even your case public records hurt your length of credit history. That might be your problem. What might help is the credit cards you have, 7 of them, so the question is maybe you need to let go of two of the card. Preferably the two most recent credit cards you have. the cards you have had longer help your length of credit. What helps my credit score is that I don't apply for credit often, along with my long length of credit history. Time is just as important on a credit report. Ultimately its your judgement call. I would just suggest wait another 2-3 months to see how your credit changes due to time. Maybe someone with more experience on these boards could chime in.

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 19:56:28 GMT

Contact the atty. for the judgement and ask nicely for them to vacate judgemnet. If its paid it shouldnt be a big deal then when it gets vacated send to all 3 bureaus and viola house

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 20:02:25 GMT

My bad not the attorney but the person with whom you had the case. Also u say that u use only two cards are they reporting a balance or 0 the reporting matters not the fact that you pay in full pay. all but one card to <9% with only one card reporting a balance

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 20:03:47 GMT

Also what are the particulars of judgement did a judgement get entered and then u paid?Or did u go to court and then found for the plaintiff and issued a judgemnet for ;'$

Re: HELP!!! How to Improve FICO From 711 to 750?

Shogun — Tue, 09 Oct 2012 20:06:22 GMT

+1 See if you can have the judgement vacated. That would let your scores rise high enough.

Re: HELP!!! How to Improve FICO From 711 to 750?

improveFICO711to750 — Tue, 09 Oct 2012 20:57:22 GMT

Thank you for your valuable inputs. It was a small claim. Both plaintiff and I went to court and judgment in favor of the plaintiff, then we paid.

Do you think the court will vacate the judgment if the plaintiff file a motion?

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 20:59:28 GMT

Absolutly if the plaintiff will go along if so I dont see any reason for the vacate of judgement not to happen go for it! what about the cc cards r u paying b4 the statement cuts

Re: HELP!!! How to Improve FICO From 711 to 750?

jadeite788 — Tue, 09 Oct 2012 21:00:07 GMT

Personally me I would go ahead and take the advice and try to vacate the judgment. You never know unless you try.

Re: HELP!!! How to Improve FICO From 711 to 750?

improveFICO711to750 — Tue, 09 Oct 2012 21:14:40 GMT

I am using 2-3 of my 7 credit cards, paid in full before or on due date. Will it rise my score if I pay in advance?

Thank you all for your advice. I'll try and let you know what happens.

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 21:47:41 GMT

You need to look at your statements it will tell u when the statement cuts. You want to pay all to 0 before thaT DATE WITH ONE CARD ONLY REPORTING LESS THEN 9% OF THAT CARD. iF U CAN DO THAT i PROMISE U YOU WILL HAVE THE ABSOLUTE HIGHEST SCORE POSSIBLE. tHEN WHEN REFLECTED IN reports all 3 do a rapid rescore with your lender he will even be surprised!! Let me know how it goes!!Statement cut IE: sept 20,2012-oct 19th 2012 then your statement cuts on the 19th ok?

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Tue, 09 Oct 2012 21:49:24 GMT

I almost forgot Are you in Contract right now??Or just looking

Re: HELP!!! How to Improve FICO From 711 to 750?

improveFICO711to750 — Tue, 09 Oct 2012 23:48:21 GMT

I didn't get you clearly. One of my CC opening/closing date is: 08/19--09/18, payment due date is 10/15, Normally, I pay on or a couple of days before due date, in this case, 10/15. Did you mean I need to pay before 09/18? Then, how can I know how much I should pay?

Yes, we are under a contract, but that is a new house that will be finished in 4-5 months. So we still have a few months to repair our FICO.

annielorie wrote:
You need to look at your statements it will tell u when the statement cuts. You want to pay all to 0 before thaT DATE WITH ONE CARD ONLY REPORTING LESS THEN 9% OF THAT CARD. iF U CAN DO THAT i PROMISE U YOU WILL HAVE THE ABSOLUTE HIGHEST SCORE POSSIBLE. tHEN WHEN REFLECTED IN reports all 3 do a rapid rescore with your lender he will even be surprised!! Let me know how it goes!!Statement cut IE: sept 20,2012-oct 19th 2012 then your statement cuts on the 19th ok?

Re: HELP!!! How to Improve FICO From 711 to 750?

Tran92 — Wed, 10 Oct 2012 08:29:30 GMT

You need to REPORT one of your CC at a utilization of 1-9% while paying in full the rest of your CC leaving a balance of 0%. So if one of your CC has a cli of lets say 1000 you should report an amount of <$90. The rest of your CC you can still use but make sure you pif before it REPORTS. Sorry for the cap locks,but I hope that helps. It should raise your credit score by constantly doing that. Also get rid of that baddie. :smileyhappy:

Re: HELP!!! How to Improve FICO From 711 to 750?

annielorie — Wed, 10 Oct 2012 13:31:06 GMT

Look at your statements it will tell you the time frame for that bill. The ending date is the statement cut date. You need to pay b4 that date to zero except for one card at 9% reporting so if you spend 40% on one card make sure you make a payment that will let the statement reflect 9% or less. One other thing to keep in mind 4-5 months is a long K time, alot of time for zombie debt collectors to surface be especioally vigilant with your credit reports I would suggest a daily monitoring service. This way if anything pops up it can be dealt with immed. if u can get that vacate on judgement that is major major baddie that will give you a significant score boost. However I would not let the mortgage broker pull your credit again get score through myfico this way u lose no more points for inquires. Just b4 u r about to close let them to a rapid rescore of your credit youll definitley get into the top tier. The reason I say to not pull credit through mortgage. broker is that the day u close u may want to get Home imp. cards and the less inq. the better. If u r still not clear on the cut date thing let us know.