No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have been lurking on this forum for some time now. It is an invaluable resource and I have been able to find most of my answers though the threads of other. Now it is time for me to join in the fun and contribute!
We are trying to start construction on a new house and have been delaying awaiting my middle score to get above 720. It is like watching a glacier melt – I think I might be dead before it gets there. Thanks to each of you, I understand a good bit of the basics such as optimally settling revolving credit. The below table captures my history regarding revolving credit. As you can see I am stuck at 703 and need 17 more points!!! (note that I am focusing on Transunion as Experian is high enough and Equifax has a long ways to go)
Credit Analyis Transunion
Date Revolving Credit Balance FICO 04 Score 8
6/11/2015 956 693 736
8/11/2015 15287 675 716
10/14/2015 14799 686
10/28/2015 17574 684
11/5/2015 24219 671 712
11/10/2015 24219 671
12/17/2015 31031 661
1/19/2016 27445 661 705
1/28/2016 25823 661 710
2/4/2016 13204 688 730
2/20/2016 11858 688 732
3/4/2016 121 703 749
Below are a few parameters based on my current Transunion credit report. What advice does anybody have on what action to take next?
For reference, the negatives on my report are listed below. No such luck with Goodwill letters on these. Each of these aging has not seemed to help very much at this point and they aren'y close enough to 7 years to ask for an early exclusion.
I am at a loss for the next best step to take. Any advice will be VERY much appreciated. I desperately need to pull credit within the next 75 days and be at 720, but it just does not look good!!!
I did find one ledner who only requires a 700, but their program is 1.25% higher interest rate. Unfortunately, on the larger loan values all of the banks are pushing for the higher scores.
If it isn't one challenge, it is another!
Put in the formal mortgage application. My middle score pulled at 712 (myfico report said 709). The lender granted a variance on the score. Appraisal looked good, LTV is good, reserves are fine, and the first pass on DTI was good.
Then they came back and said they cannot count my restricted stock as income even though I has received it since 2009 and showed up as taxable income since 2010. This has been 20% of my income for the last three years and the bank will not count it. IRS, Social Security, and Medicare sure do count it! They can average it or take the lower of the three - any of these will work, but excluding it kills the deal!
Now I have an inquiry with no result. The myfico alert did not show a score decrease from it so let's hope that is the case. I am back looking at options. Grrrr