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How to Raise Fico Score

Valued Member

How to Raise Fico Score

I have heard 2 different methods. Can someone please tell me the correct thing? Im trying to raise my score for a home loan in September.

 

1. Pay off all your credit cards every month to see an increase in your credit score leaving a 0 balance.

 

and

 

2. Pay all your credit card off each month except 1 and leave 1-9% balance on that 1 card to see an increase in your score.

 

Which one is correct?

:

Starting Score: 515 Jan. 28th 2011
Current Score: 670 Today EQ
746 Today TU
Goal Score: 800

Take the FICO Fitness Challenge


Current Score: 648
Goal Score: 750

Take the FICO Fitness Challenge
Message 1 of 4
3 REPLIES
Valued Contributor

Re: How to Raise Fico Score


lalaredd wrote:

I have heard 2 different methods. Can someone please tell me the correct thing? Im trying to raise my score for a home loan in September.

 

1. Pay off all your credit cards every month to see an increase in your credit score leaving a 0 balance.

 

and

 

2. Pay all your credit card off each month except 1 and leave 1-9% balance on that 1 card to see an increase in your score. This is the correct way to increase your scores. 1% should yield you the best scores, however it may vary for you. Pay almost all of what you owe on the one card you're leaving a balance on by the due date, and just leave a small balance of like (5.00) on that card, then pay it after the statement posts. Continue this behavior every month thereafter and you will maximize your scores. Doing it this way will keep you out of debt too (Extra Bonus) Smiley Happy

 

Which one is correct?


 


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

Take the FICO Fitness Challenge


Message 2 of 4
Valued Member

Re: How to Raise Fico Score

Thank You

:

Starting Score: 515 Jan. 28th 2011
Current Score: 670 Today EQ
746 Today TU
Goal Score: 800

Take the FICO Fitness Challenge


Current Score: 648
Goal Score: 750

Take the FICO Fitness Challenge
Message 3 of 4
Valued Contributor

Re: How to Raise Fico Score


lalaredd wrote:

Thank You


You are very welcome.

 

Wishing you the Best of Luck!!


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
Goal Score: 800+ across all three

Take the FICO Fitness Challenge


Message 4 of 4