Plan of Attack...please help

[BeatingtheSystem]

I would like advice as to what I should do to increase my credit scores the most by Aug / Sep of this year. 

To follow is info regarding my current situation:

• Credit Scores - 1/4/08:
• TU = 688
• EQ = 683
• EX = 699
• Revolving Debt - 1/4/08 (CL / Bal / Min Pmt / APR / UTI):
• Chase FUSA CC ($17.5k / $13.9k / $599 / 28.49% / 79%)
• Chase Circuit City CC ($1.5k / $0 / $0 / 24.24% / 0%)
• Bank of America CC ($10k / $4.5k / $88 / 19.24% / 45%)
• AMEX CC ($2k / $449 / $15 / 16.74% / 22%)
• Retail Services ($11.9k / $6.4k / 13.9% / 54%)
• Retail Services ($11k / $2.9k / $79 / 9.9% / 26%)
• CDC FCU CC ($5k / $4.4k / $50 / 1.9% / 88%)
• HRS ($3.3k / $1.4k / $16 / 0% until Oct-08 / 43%
• Overall UTI - revolving debt = 55%
• Installment Loans - 1/4/08 (Bal / Pmt / APR):
• SST - Auto Loan ($20.2k / $559 / 7.59%)
• CDC FCU ($14.3k / $417 / 13.5%)
• Monthly Income (gross / net) = ($8900 / $5,850)
• Other Expenses (monthly):
• Rent = $900
• Auto Insurance = $135
• Electric = $100
• Cable / internet = $150
• Water, sewer, trash = $35
• Mobile phone = $125
• Gas = $400

I appreciate any feedback you are willing to provide.  I will be applying for a mortgage in approximately 6 months, hence, my desire to focus solely on my credit score. 

Thanks.

Message Edited by BeatingtheSystem on 01-04-2008 05:57 PM

[Anonymous]

I believe that you biggest score increase could come from lowering you util down to 10% or below.  And while you are doing that you should call and try to get some of your interest rates lowered ( wont help with score increase but will help you pay them off faster). Tks Vicki

[ronq]

Your UTL is high. If you were to lower it below 30% you would probaply see a 20-50 point gain. You need to eliminate as much of your debt as you can before you apply for a mortgage. Your high interest CC are killing you. You are paying 28% interest on 13k alone along with all of the others. I would recommend paying as much as you can every month especially on the higher interest cards. Your score is ok and as you pay down your CC debt it will rise, however your DTI effect the amount of the mortgage you can qualify for with all of your minimum payments. ShanetheMortgageMan can answer that question better than me you can PM him or post a ? in the mortgage loan forum, but I think you should reduce/eliminate as much debt as you can before having a mortgage. Once your score gets above 720 your golden and will get a very good interest rate, but you don't want to go into owning a house with too much debt. There will be lots of unexpected things that you will spend money on or things you want to improve.

Message Edited by ronq on 01-04-2008 07:43 PM

Message Edited by ronq on 01-04-2008 07:48 PM