Hello all, I am 22 years old, and in the past 3 years I have had SS fraud. I could not prove this since it was a family member--yuk I know--but I got everything paid off.
Right now my score is 604. I have two credit cards with only $500 limits, since I got these when I was in highschool. One card has a balance of $120 and the other of $300. I know I need to pay these down to about 10% of the limit if not lower because of the card limit being so low. The only other debt I really have besides the normal utility bills, and two car payments, is my Dell computer account. The limit is $2000, and I just recently bought a laptop and accessories for school, so it is close to the limit at $1700. So I have a total of only $2,120 in account debts. My cars are two years old, but have never been late. Since I paid the last of the Fraud stuff off, my score went from 500 to 604 in one quarter.
What is the smart thing to do to increase my score a decent amount again in the next 6 months?
I know I shouldn't pay everything off because they can not judge you if you have nothing to judge. Get everything to 10% and just keep it that way? I know I am young, but I am also a police officer looking to buy a house in my town, in the next year and a half. But I don't even want to try unless I have at least a 700 credit score.
Any ideas???