79 points in 3 weeks!!!!

[Lucky7z]

FICO 7/2/07-7/25/07

eq 543 to 622 how??? all accounts look the same as b4 thats 79 points im not complaining though, so i guess its possible to get tp 700 next month!!!

[Anonymous]

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jasmine2007 wrote:

FICO 7/2/07-7/25/07

eq 543 to 622 how??? all accounts look the same as b4 thats 79 points im not complaining though, so i guess its possible to get tp 700 next month!!!

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Something else has changed... How long have you had your accounts? Did you recently pay down some CC balances? Did any INQs fall off recently? Baddies fall off?

Something else has changed, for sure. OR you're looking at two different scoring models. Did they both come from MyFICO? Or did you get them from another source?

Glad to hear your score went up! But something HAD to influence the change.

Rob

[Lucky7z]

yes i paid my cc down to 50% and my score watch went to 580, and 7/25/07 i was 622 my oldest account is 6 months old just started out, my some inq im not sure and i dont have any baddies

[Anonymous]

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jasmine2007 wrote:

yes i paid my cc down to 50% and my score watch went to 580, and 7/25/07 i was 622 my oldest account is 6 months old just started out, my some inq im not sure and i dont have any baddies

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CC Utilization has the greatest weight in the current FICO model, so when you pay them down scores are impacted in a MAJOR way. Your score watch alert may have come as a result of only one account having been paid down, and an additional alert was not sent when other CCs posted lower UTI levels.

Typically we don't see a huge increase in FICO after an acct ages to the 6 month mark... Usually at the 12 month mark. BUT your FICO should continue to grow at a healthy rate if keep paying your bills timely and keep your UTI low... I'd wager you can increase for FICO even more by paying down to the target numbers of between 1% and 9%!

Good Luck! and Congrats!

Rob

[Lucky7z]

thanx for the advice i will use it, do you think i have  a decent scores (tu-639 ) (ex-636) (eq-622) for some one just starting out?? should they be higher??

[Anonymous]

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jasmine2007 wrote:

thanx for the advice i will use it, do you think i have  a decent scores (tu-639 ) (ex-636) (eq-622) for some one just starting out?? should they be higher??

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These are great scores to start with! With no baddies and a couple of good TLs you'll be in the 700s in no time!

Keep up the good work. Keep in mind that all of your hard work can end up nulled with even the smallest of stumbles. So ALWAYS pay on time.

Rob

[Tuscani]

Congrats! Low util is crucial!

[Lucky7z]

stupid me i thought u just use the card and pay them back i didnt know keep ur balances low thank u's im learning alot now

[Anonymous]

No. Not stupid. If you're here you are inquisitive & embarking on a steep learning curve.

Good Luck!

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jasmine2007 wrote:

stupid me i thought u just use the card and pay them back i didnt know keep ur balances low thank u's im learning alot now

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[Anonymous]

I have been rebuilding my credit, mostly from derogatories reporting in my files that were not mine. 

Some things have been deleted.

Now,  I want to boost my scores fast and hard.  I read that you can increase your scores practically overnight with a credit card that is reporting a high credit limit.  In the begining the only current credit I had was a car loan for 13,000 that was paid on time every months for a  little over 3 years, bal. is about 2000.   I did not have any revolving cards so I applied for 3 in April, but they both have low credit limits.  One is 300, and the other is 450, ....... Oh ! I forgot I have a CJ card which is supposed to be a 1500 credit limit but it is only reporting $500.  All of them are reporting good, paid on time. 

Since I probably will not be approved for a good credit card with a high credit limit, it was suggested that  if you get a direct store merchandise card with a high limit the credit limit is reported to my files, and this would boost  my scores.   I found three of these type cards, 6000, 10,000 and 12,500 .  My credit card limit ratio is lower than my credit utilization.  This would increase my credit limit ratio against my credit debt.  With these type cards they report the high credit limit, and they do not do a hard pull.

With some collections reporting and my current debt it puts me about a little more than 5000 in debt with a 1250 credit limit.

With at least the 12,500 card, and on time payments it would open the door for better credit card companies to take a look at me, and offer me legitimate credit card offers with high credit limits.

I would appreciate any suggestions.