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Need 20 points in 15 days.

Member

Need 20 points in 15 days.

Is it possible to have a score increase in 15 days? I need to close on this home loan and need this score increase. Last week Thursday, I was offered a 100 credit line increase for one of my credit cards which will bring the limit to $400. All my balances on the cards are at $0, I have no lates and I think I have all of the deletions I can get off of my credit. What else can I do??
Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Need 20 points in 15 days.


wrriedone wrote:
Is it possible to have a score increase in 15 days? I need to close on this home loan and need this score increase. Last week Thursday, I was offered a 100 credit line increase for one of my credit cards which will bring the limit to $400. All my balances on the cards are at $0, I have no lates and I think I have all of the deletions I can get off of my credit. What else can I do??

Adding a CLI won't help your scores any while balances are at $0. Your utilization will still be at 0%. Plus it doesn't matter if you are at 0%, 5%, 20%, or whatever with CLs totalling $1000 vs. 0%, 5%, 20%, or whatever with CLs over $100,000. It's how you use them that counts.

 

Are they all showing $0 on your CRs, or rather are they all showing $0 when your lender pulled your last scores? If so, you might actually benefit by letting one CC report a balance of $1 to 9% of the CL. Oddly enough, some have seen dings by having all $0 balances. Likely isn't worth 20 though.

 

When figuring CC util, you have to include ALL CCs open or all CCs reporting a bal. Any charged-off CC can still factor in, as will most LOCs and HELOCs.

 

 

 


 

Message 2 of 7
Frequent Contributor

Re: Need 20 points in 15 days.


fesable wrote:
Is it possible to have a score increase in 15 days? I need to close on this home loan and need this score increase. Last week Thursday, I was offered a 100 credit line increase for one of my credit cards which will bring the limit to $400. All my balances on the cards are at $0, I have no lates and I think I have all of the deletions I can get off of my credit. What else can I do??

I is not really fesable to think that you could increase your score this easily that's just not how it works or everyone would do it!


Starting Score: EQ FICO 777
Current Score: EQ FICO 803
Goal Score: EQ FICO 810


Take the FICO Fitness Challenge

Message 3 of 7
Valued Contributor

Re: Need 20 points in 15 days.


BigDaddy18 wrote:

fesable wrote:
Is it possible to have a score increase in 15 days? I need to close on this home loan and need this score increase. Last week Thursday, I was offered a 100 credit line increase for one of my credit cards which will bring the limit to $400. All my balances on the cards are at $0, I have no lates and I think I have all of the deletions I can get off of my credit. What else can I do??

I is not really fesable to think that you could increase your score this easily that's just not how it works or everyone would do it!


Yeah, Fesable. I think you are going to be in trouble. 20 points is a lot when you have no factors that you can change to impact it; not only that, any changes you would make would have to report. My guess is the only thing that can help you get those points is time at this stage, because as previously mentioned, your util was already at 0.


BigDaddy, I don't think its feasible for the OP to in this sitaution to raise a score in 15 days, but it can be done pretty easily if you have scoring factors that can be worked on and you know the timing of how things report. I dropped my util from 54 percent to 6 percent and saw a 46pt gain in 10 days, because I paid the card off one day before the report date, and after the time lag from the report to it showing, I was able to get the points.

 

I also think it has something to do with the credit situation; I see your scores are all in 800s, so for you 20 points is hard, but for someone like me, who was way low, it was much easier.

 

FICO score manipulation is pretty easy to do, if you have the wiggle room on your credit cards. Once you are at the top of your window though, it takes longer. So I don't think its a fair statement to really say 'thats just not how it works' because certain situations will allow that to work.

 

-scott

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Message 4 of 7
Valued Contributor

Re: Need 20 points in 15 days.

Buy a 6 pack of beer on one of your CC and let it report, see what that does.

Message 5 of 7
Member

Re: Need 20 points in 15 days.

The lender is pulling again on 7/30. Should i let the small balance show when the credit is pulled? or should i pay right before?

Message 6 of 7
Highlighted
Valued Contributor

Re: Need 20 points in 15 days.

yes.

Message 7 of 7