Can I get to 650 by the end of the year?

[Anonymous]

Hello and welcome to the forums. I've split off your post to start a new thread in General Credit Topics. All I changed was the title.

Thanks for your understanding,

~MarineVietVet, myFICO moderator

Hey,

Congratulations on your success!!!

I am in need of some advise in order to improve my credit score.  When I started monitoring it January 2015, my scores were roughly 520-550.  I was able to get my score up close to 600 in February. 

However, it took a dip when i applied for a Chase Freedom card recently.  In additon, the credit ultilization % brought my credit score down a bit.  

Now I am back to where I started.  My goal is to get my score to 650 by the end of the year.  Do you think this is realitic??

I only have 3 cards 2 from Capital One and 1 from NY & Company.  All cards have a small limit of 300 or less.

I said to myself I will no longer apply for anything at all until my credit score is over 650; I must pay all my cards on time and pay more then the minimum balance asked.

What else should or can I do??

Please help me!!!!!!!!!!!!!!!!!!

Thanks

[Anonymous]

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@Anonymous wrote:

Hello and welcome to the forums. I've split off your post to start a new thread in General Credit Topics. All I changed was the title.

Thanks for your understanding,

~MarineVietVet, myFICO moderator

Hey,

Congratulations on your success!!!

I am in need of some advise in order to improve my credit score.  When I started monitoring it January 2015, my scores were roughly 520-550.  I was able to get my score up close to 600 in February. 

However, it took a dip when i applied for a Chase Freedom card recently.  In additon, the credit ultilization % brought my credit score down a bit.  

Now I am back to where I started.  My goal is to get my score to 650 by the end of the year.  Do you think this is realitic??

I only have 3 cards 2 from Capital One and 1 from NY & Company.  All cards have a small limit of 300 or less.

I said to myself I will no longer apply for anything at all until my credit score is over 650; I must pay all my cards on time and pay more then the minimum balance asked.

What else should or can I do??

Please help me!!!!!!!!!!!!!!!!!!

Thanks

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One thing that might help you is to pay two of your cards off completely before their statement cuts so they will show 0 balance on the statement.  If you can, pay the balance of the third card off to less than 10% before the statement cuts, then pay it all in full by the due date.   That will help your utilization and your score.  But always let one card of the three report something small; not a good idea to let them all report 0 balance, even though it's a great feeling to pay your cards off.    

[takeshi74]

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@Anonymous wrote:

I said to myself I will no longer apply for anything at all until my credit score is over 650; I must pay all my cards on time and pay more then the minimum balance asked.

What else should or can I do??

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Pay attention to utilization, not minimum required.  Get your utilization down.  You can pay before report date to reduce the reported balance/utilization.

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@Anonymous wrote:

Now I am back to where I started.  My goal is to get my score to 650 by the end of the year.  Do you think this is realitic??

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We really can't tell anyone that they can get X points in Y time.  It may be possible with responsible usage and keeping utilization in check.  Why the end of the year deadline?

Have you looked into addressing whatever derogs you may or may not have?  If you have any then start working on them.  Hit the Rebuilding subforum to see what you can do about them.

[Jesse3581]

I agree with the above posts.  Get the derogs taken care of. If you have some late payments, write and ask them for some goodwill and remove it. If you owe a debt, look into "pay for delete". If your file is just short (you're new to credit), then be patient.  Hit the rebuilding forum if you need to.

[Jesse3581]

But the answer is yes.  Yes you can be at 650, hell you can be at 700 at the end of the year.  Just lay off the strippers and coke (or at the very least don't charge it), let your history build, fix all the derogs.