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Registered: ‎04-01-2007
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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
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Posts: 640
Registered: ‎09-02-2008
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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)

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Established Contributor
Posts: 703
Registered: ‎03-23-2009
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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
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Posts: 18
Registered: ‎04-14-2009
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Re: Need advice! Must raise fico 6 points for mortgage loan

They pulled it yestereday, 7/24/09

 

 

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