@Anonymous wrote:
Hello maybe someone on here can help. I have been rebuilding my cerdit for awhile now to get a mortgage. My fico mortgage scores are running a little below my fico 8 scores. I recently paid of almost all of my credit cards. While I recieved a bump in my fico 8 by 26 points my fico mortgage score went down. I currently have a total of 12 open trade lines and only 5 are reprting a balance. My utilization is down to 12%. I have no idea what to do in order to improve my fico mortgage scores. I have a few old collections that are almost 7 years old (3 of them) that I have tried PFD and they won't do it. Not sure how much that is affecting my score since thwy are so old. I do not have any late payments in the last 6 1/2 years. Any advice I would appreciate.
My mortgage scores jumped when I had balance on only three cards. EQ mortgage is now higher than Fico 8. I also have a secured installment loan (500 is treated the same as 5000 or 50000 in Fico scoring models). I have payed it down to less than 10 %, it has yet to report, will get another bump. I am carrying a total of 3% combined util on 3 cards. Pay off some cards, look up the Should I get an installment loan thread, and get util below 5% on three or less cards. If you only have five cards, then carry on two, if only three cards, then carry on one.
Signature needs updating
Try reporting 3 accounds with balances as the previous poster suggested. At this point, you dont have too much to lose. Im sorry. :-(