Reply
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: Need advice! Must raise fico 6 points for mortgage loan


economan wrote:

... I could pay off $1k and get the balance under 40% (but CC util was my first positive on myFICO). 



The positive is because of your overall low util, not that you have util on the card. It's possible that reducing your util will help you a bit more.

Having just one card report a balance is a definite plus. When you use the others to keep them alive, be sure to do so well before their statement dates, and pay them off before the statement drops. Exceptions: HSBC/ Orchard bank cards and US Bank cards report on the last business day of the month, reporting the balance as of that date.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Contributor
cobaltnv
Posts: 640
Registered: ‎09-02-2008

Re: Need advice! Must raise fico 6 points for mortgage loan



Finally, I could probably get on one cc as an AU, but I am not sure this will increase my AAoA by very much (since I have so many -- 19 revolving). 


Adding an a card as an AU might help, but that will depend on your details and the details of the card to be added (age, utilization, credit limit). What is your current AAoA in months (keep in mind that FICO rounds down to the nearest year). You are at 18% overall utilization (if I remember correctly). If you can get that number below 9% you would see a jump. This could be done by getting CLI on any of your cards, paying off the balance, or by adding additional cards (AU only--no apping right before mortgage).

 

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

Helpful Threads
Frequently Requested Threads
Understanding your Fico Score
Established Contributor
medicgrrl
Posts: 703
Registered: ‎03-23-2009

Re: Need advice! Must raise fico 6 points for mortgage loan

When was that EQ score from?
Goal: 700 by end of January!!! 7/20/09 EQ 605
6/03/09 EQ 587
5/15/09 Ex 686 TU 653
5/11/09 EQ 628/ TU 639/ EX 656 (81% util.)
5/9/09 EQ 628/TU ?/ Exp ?
3/23/09 EQ 491/ TU 565/ Ex 627
Established Member
economan
Posts: 17
Registered: ‎04-14-2009

Re: Need advice! Must raise fico 6 points for mortgage loan

They pulled it yestereday, 7/24/09

 

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+