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Posts: 1
Registered: ‎07-03-2007
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Advice for upping credit score - I have limited options

Hello,
 
So journeying on the MyFICO 12 step program has brought me to a holding point.  My current scores are TU = 699, Experian = 685, and Equifax = 668.  I filed for bankruptcy in late 2003.  I currently do not have any balances on my credit cards, and the only general balance that is noted is for the credit card I have to use for business travel expenses (that is also paid off monthly - but shows a 2,000 - 3,000 balance each month).  Additionally, one of the 3 agencies stated that I had a current balance of $391 on a car loan that I paid off in 2005, so I recently disputed this.  Other than paying my bills on time, not over-applying for new credit, and letting my credit history age, I don't know what I can actively do to up my score.  I am looking to purchase a home early next year, and I don't know that just engaging in the acts previously listed will raise all my scores above 700 (since I've heard they take the mid-range).  Does anyone have any suggestions as to other activities, calls, letters that I could engage in to toss my score over 700?
 
Thanks!
Established Contributor
Posts: 560
Registered: ‎05-03-2007
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Re: Advice for upping credit score - I have limited options

what is the cl on the card that you charge your business expenses on?  even if pif'ng that card every month, you need to see if your ut is too high.
 
it may also help to start using your other cards occasionally, but keep them at a low ut. 
 
look that that thar' credit scoring 101 thread, or whatever it is called.
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Posts: 9,252
Registered: ‎03-19-2007
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Re: Advice for upping credit score - I have limited options

UTL is one thing-
I would like to think you are in the top of your bracket w/ people w/ a BK on your record.
 
I have never BK'ed, never repo'ed, never defaulted, no CA's  and you have scores higher than mine.
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Registered: ‎04-20-2007
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Re: Advice for upping credit score - I have limited options



Timothy wrote:
UTL is one thing-
I would like to think you are in the top of your bracket w/ people w/ a BK on your record.
I have never BK'ed, never repo'ed, never defaulted, no CA's and you have scores higher than mine.



I've seen scores in the mid 700 range with a BK.
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Posts: 6,182
Registered: ‎03-29-2007
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Re: Advice for upping credit score - I have limited options

Yep.. I have seen 750+ with a BK!!
 
 
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Posts: 2,010
Registered: ‎07-01-2007
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Re: Advice for upping credit score - I have limited options



dog wrote:
what is the cl on the card that you charge your business expenses on?  even if pif'ng that card every month, you need to see if your ut is too high.
 

I agree... what is the CL? 
 
Considering it would need to be at or over 30k for your average monthly charges to not be impacting your utilization negatively... and I'm going to make a quick guess that is not... it may benefit you to pay 2x per cycle so that your new charges billed and reported each month are under 10% of your CL.
 
I do this with my main CC.  PIF as soon as I get the statement and another payment at the closing date. 
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Regular Contributor
Posts: 179
Registered: ‎07-11-2007
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Re: Advice for upping credit score - I have limited options

You can request that the credit card company reports a current balance as well.  Sometimes the balance reported is BEFORE you pay it off so to the Bureau's you are still 2-3 grand down in revolving debt.
nea
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Posts: 7
Registered: ‎07-11-2007
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Re: Advice for upping credit score - I have limited options

yea I dont understand it either. My husband had a Bk in 2002 does have one charge off and one late card, but that is it and his score is 507. he does have many good accounts, like cc and autos and a few mortgages. i really dont understand why his score is lower than many with more baddies.
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Posts: 2,050
Registered: ‎04-17-2007
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Re: Advice for upping credit score - I have limited options

If you are not applying for a mortgage until early next year, it doesn't matter how much of your CLs you use in July, August, Sept, etc. (provided you pay on time, of course).  You don't get any points for low "historical" utilization -- it only counts at the time your score is pulled. 
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Established Member
Posts: 10
Registered: ‎05-20-2007
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Re: Advice for upping credit score - I have limited options

If you are not applying for a mortgage until early next year, it doesn't matter how much of your CLs you use in July, August, Sept, etc. (provided you pay on time, of course).  You don't get any points for low "historical" utilization -- it only counts at the time your score is pulled. 
 
 
   I would have to respectfully disagree........without going into my personal finances I can say without a doubt that holding down your balances over the long haul will have a positive effect on your score..abet not substanial but an impact just the same.......example :  I carried 5 % balances on my cards for 10 months and my score rocketed and not only that my card company tripled my CL and lowered and fixed my APR to a very low rate.  I then proceeded to use 90% of my card balances and my score plummeted....I then paid my cards off down to 15% UT and low and behold a small increase in score not close to what it was before.  Also when appling for a morgage most loanees will physically look into your CR.....keep UT's low for optimal scores
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