How can I increase my credit scores?

[creditisbetter2]

I'll try not to make this post too long.  My husband and I are looking to buy a house at the end of this year.  With our scores now, we got pre-approved for FHA loan.  When the lender pulled my report, one score was 712 (efx) and the other two were 672 (xpn) and 681(tuc).  I have 4 major credit (barclays, b of a, dillards amex, cu) cards and 3 store cards (macys, kays, old navy, 4 if u count dillards again).  I have low balances on my CU card, kays, and old navy card.  My barclays card, macys card have pretty high balances and the amex is in the middle.  The only other things I have on my report are student loans and a car loan.  I have never been late on anything.  What can I do to increase my score?

[guiness56]

You have no negatives on your report.  That is a good thing.

Utilization counts toward 30% of your score.   Add up all your revolving balances and divide by the total CL.  This will give you your utilization. 

Paying down your cards will help your score a lot.

The best thing to do is have all cards except one at a 0 balance and have the one report at 9% or below.

For everything you pay down your score should go up. 

[Anonymous]

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@guiness56 wrote:

You have no negatives on your report.  That is a good thing.

Utilization counts toward 30% of your score.   Add up all your revolving balances and divide by the total CL.  This will give you your utilization. 

Paying down your cards will help your score a lot.

The best thing to do is have all cards except one at a 0 balance and have the one report at 9% or below.

For everything you pay down your score should go up. 

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+1 Perfect advice, get your util down to <9% and you should see a significant increase in scores.

Keep us updated once you get your util below 9%, I'm looking forward to hearing the results.

Best of Luck.

[creditisbetter2]

That is great advice.  Thank you.  I worked with a company to get all my negatives off.  It took me about a year and a half to get to this point and I feel better but I absolutely have to get close to 800.  Not just for the house but because i'll feel better.  My issue now is SHOES, can't seem to stop buying shoes.  I digressed, sorry.  At any rate, I think the best thing for me is to hide all my cards in my drawer so I won't be tempted to use them when I go out.  I will keep you all posted.  Looking forward to the increase.

[terren2000]

I will definately try that.  Getting my score below 9% to see the jump ill receive.