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NEED HELP raising my credit score ASAP

Regular Contributor

NEED HELP raising my credit score ASAP

Hello,

 

I'm trying to get a conventional illinois smart move mortgage and my mid score is 640..I qualified for the Wells Fargo city lift program which reserved $ 15K in funds to help with closing and down payment assistance. I have until 12/24 to close on a property or I will lose the funds.I need 20 points to get this loan. I was approved for FHA before but it's hard to find condos that are FHA approved. Here my CR right now

 

Cap1 - Derog but paid..i been trying GW no luck

First Premier - CO - not going to bother paying them it's from 07

HSBC best buy- derog - paid - no luck with GW them so far

HSBC - derog -co paid after co - no luck with GW so far

 

Cap1 - $ 500 limit $240 balance

BofA -500 limit - $ 480 balance - I just paid the entire balance today

Orchard bank CC-$  300 limit- $ 134.00 balance

 

I'm not sure what else I can do to get a 20  point increase within the next couple of weeks. Any help is appreciated as I'm running out of time to utilize these funds. 


MY FICO = 690 CK=660 GOAL = 750 and my own house!..Back in the garden

Message 1 of 14
13 REPLIES
Regular Contributor

Re: NEED HELP raising my credit score ASAP

I am not sure if this will earn you 20 points but I would pay off another cc and leave one at a very small balance ($40).  You then have to find out when these cards report to the cra's. 

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 2 of 14
Regular Contributor

Re: NEED HELP raising my credit score ASAP

any other suggestions?


MY FICO = 690 CK=660 GOAL = 750 and my own house!..Back in the garden

Message 3 of 14
Moderator Emeritus

Re: NEED HELP raising my credit score ASAP

Pay for delete of FP?

I really don't think you have enough time

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 4 of 14
Frequent Contributor

Re: NEED HELP raising my credit score ASAP

Best bet for a quick one month bump is going to pay down your utl rate to 9%. 

 

With your current available limits you should only carry $117.00 on them. 

 

If you have recently purchased your score use the simulator and see if this will move your score enough. 

 

GW adjustments would be huge if you could get them done.  I did one with Chase, and it posted to my account in 2 days after I spoke with them.

 

Search HSBC GW and you may be able to find the back door info and numbers.

 

GL. 

 

P.S is there a reason you need 20 points, ie lendor stated only way to be approved?  Sometimes 640 is high enough not to need to worry.  I would view the COs a more of an issue then the score itself. 

 

 

 

Message 5 of 14
Frequent Contributor

Re: NEED HELP raising my credit score ASAP

Best bet for a quick one month bump is going to pay down your utl rate to 9%. 

 

With your current available limits you should only carry $117.00 on them. 

 

If you have recently purchased your score use the simulator and see if this will move your score enough. 

 

GW adjustments would be huge if you could get them done.  I did one with Chase, and it posted to my account in 2 days after I spoke with them.

 

Search HSBC GW and you may be able to find the back door info and numbers.

 

GL. 

 

P.S is there a reason you need 20 points, ie lendor stated only way to be approved?  Sometimes 640 is high enough not to need to worry.  I would view the COs a more of an issue then the score itself. 

 

 

 

Message 6 of 14
Highlighted
Regular Contributor

Re: NEED HELP raising my credit score ASAP

I got HSBC removed with a GW submitted through Planet Feedback a few years ago.  GW the others like a madman.  In writing, through Planet Feedback, find as many different addresses as possible.  If you start googling stuff you can come up with addresses to try.  I paid my cc down to 9% and it didn't help, but then I paid them down to 0% and it jumped my score.  I think it was due to the fact they all have pretty low limits, maybe?  Anyway, I tried it again and again over a few months and always the same result.  It was last year, and I don't remember the specific jumps.  Good luck.

Message 7 of 14
Valued Contributor

Re: NEED HELP raising my credit score ASAP

The underwriters may require you to pay off the old derog before approving you. I know I had to pay any and everything (negative) off before I was approved 4 a mortgage back in 2007.

 

Like others stated...theres really not much time but getting your UTI down will help.

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 8 of 14
Valued Contributor

Re: NEED HELP raising my credit score ASAP


Shinoga wrote:

Hello,

 

I'm trying to get a conventional illinois smart move mortgage and my mid score is 640..I qualified for the Wells Fargo city lift program which reserved $ 15K in funds to help with closing and down payment assistance. I have until 12/24 to close on a property or I will lose the funds.I need 20 points to get this loan. I was approved for FHA before but it's hard to find condos that are FHA approved. Here my CR right now

 

Cap1 - Derog but paid..i been trying GW no luck

First Premier - CO - not going to bother paying them it's from 07

HSBC best buy- derog - paid - no luck with GW them so far

HSBC - derog -co paid after co - no luck with GW so far

 

Cap1 - $ 500 limit $240 balance

BofA -500 limit - $ 480 balance - I just paid the entire balance today

Orchard bank CC-$  300 limit- $ 134.00 balance

 

I'm not sure what else I can do to get a 20  point increase within the next couple of weeks. Any help is appreciated as I'm running out of time to utilize these funds. 


Pay off your balances and leave maybe $1 on BOA....keep in mind the like to see 4 active TL so you may have to dig up a non traditional TL to qualify 

ccpics2.jpg
Message 9 of 14
Regular Contributor

Re: NEED HELP raising my credit score ASAP

wgat do you mean by non traditional TL?


MY FICO = 690 CK=660 GOAL = 750 and my own house!..Back in the garden

Message 10 of 14