Down the stretch to 700

[bigraydaddy65]

My FICO score has steadily improved from sub 500 in April 2008 to 677 EQ and 687 TU Jan. 2011.  I improved my score by making all my payments on time, making the minimum payments, and maybe throwing in an extra $20 on top of the payments. My utilization is still 75%, down from 100% in April 2008.

Is it possible to make the 700 club with my utilization around 70% by making all my payments on time? Or do I have to get my utilization under 50% or so to see 700?

Thanks for your replies.    RAY

[RobertEG]

No.

Just that % urilil down.

[RobertEG]

In my opinion, while % util is clearly important from month to month, moving above 700 usually requires a first look at the old derogs in your CR.

Those affect your score the most, until they finally die of their own old-age.  Getting earlier deletion of remaining derogs is something you can pursue, in addition to your current excellent focus on continued timely payments, and reduction in your current % util.

I suggest that you list each and every delinquency still appearing in your CR.

Monthly delinquencies under an OC account will remain in your CR until after 7 years from their indiv dates of delinquency.

COs and CAs will remain, should you not obtain earlier deletion, until after 7 years plus 180-days from the DOFD on the OC account.

I suggest sending GW letters to secure their earlier deletion.

[bigraydaddy65]

I've got a 90 days late in Apr. 2008. I guess it won't come of until mid/late 2015.

Anyone have any luck with a GW letter to Citicard?

I also assume you can't get a late taken off by a simple phone call to the CC "credit specialist"? 

Thanks for the replies so far.

[MarineVietVet]

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@bigraydaddy65 wrote:

I've got a 90 days late in Apr. 2008. I guess it won't come of until mid/late 2015.

Anyone have any luck with a GW letter to Citicard?

I also assume you can't get a late taken off by a simple phone call to the CC "credit specialist"? 

Thanks for the replies so far.

---

All they can do is say no. It's worth a try.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[larinoriani]

Revolving UT drives FICO's significantly. Maybe not with 70%, but with less than 30% UT, I'm pretty sure you can see the 700's even with a 90 day. Provided you don't have more baddies and continue to make all your payments.

Keep the good work, you're almost there!

[bigraydaddy65]

Thanks Robert, marinevietvet, and larinoriani forn your replies. I hope to make 700 sometime soon. I'll just keep the payments on time and try to get my util down.

Thanks again.