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What to do credit is hovering around the 700 range

Member

What to do credit is hovering around the 700 range

This forum has provided me with great information and with it I have been able to buy a car and a house within the past year.  Unfortunately since my home purchase (June 2013) my credit score seems to be stuck hovering right at the 700 range.  I feel like I am doing all the right things, but I cannot break 715.

 

So I am hoping someone can help me figure out what I need to do increase my scores.  Below are some brief facts, any help would be greatly appreciated!

 

Recent Credit information

- Purchased a car in Dec 2011

- Purchased house in June 2013

- 2 credit cards: $300 limit / $2000 limit

- 4 Credit Inquiries: 2 Mortgage related / 1 car related / 1 credit card related

 

Negative Information

Accounts Listed Negative 1
Accounts in Collections 0
Time Since Negative 1.3 Years
Current Negative Status None
Most Negative Status 180 Days Late

 

Length of History 
Oldest Account 12.0 Years
Average Account Age 6.5 Years

 


Starting Score: 650 TU FICO (8/29/12), 642 EQ-FICO (8/29/12) 606 EX (8/29/12)
Current Score: 787 TU FICO (8/10/15), 786 EQ-FICO (8/10/15), 786 EX (8/10/15)
Goal Score: 800 across all scores


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Message 1 of 5
4 REPLIES
Moderator Emerita

Re: What to do credit is hovering around the 700 range

What is your current util? Are you letting both cc's report a balance?
Have you attempted to GW the negative? 120+ is a major derog and hurting your scores.
Message 2 of 5
Member

Re: What to do credit is hovering around the 700 range

Totally agree with 09Lexie.  If possible get your utilization below 30%.  Would be even better if you can get below 10% and keep it there.

 

I also think your FICO's will improve once you make more on time house payments.  DON'T EVER BE LATE ON A HOUSE OR CAR PAYMENT !!!!!!!

 

You will get there and good job on your progress so far.

Message 3 of 5
Member

Re: What to do credit is hovering around the 700 range

Yes both of my cc's report a balance and they are less than 30%; one is 15% and the other is 19%.  I have not tried to GW the negative, but is has been paid off for more than a year.  Will they still let me do that since it was paid that long ago?


Starting Score: 650 TU FICO (8/29/12), 642 EQ-FICO (8/29/12) 606 EX (8/29/12)
Current Score: 787 TU FICO (8/10/15), 786 EQ-FICO (8/10/15), 786 EX (8/10/15)
Goal Score: 800 across all scores


Take the FICO Fitness Challenge

Message 4 of 5
Highlighted
Senior Contributor

Re: What to do credit is hovering around the 700 range

Yes, you can keep trying to GW.  Sometimes they just won't budge, but you'll never know unless you are persistent.

 

Some good news though is that you'll probably see a score bump when it ages past two years.  At that point, they seem to have less of an effect.  I saw some pretty sizeable increases once my major lates aged past two years.  I've tried the GW route and now just resigned myself to having to wait until these things fall off.  I'll be clean in 2015.  


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Message 5 of 5