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Credit Score will not go up

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llecs
Moderator Emeritus

Re: Credit Score will not go up


jeniscredit wrote:

 


OP:

Thank you for the information. We were under the impression, from our lender, that we needed to use both cards each month. So, if we leave one card at a zero balance and keep the other one under 9% how long do you think it will take to go from 600 to 620 points? Our lender said we need to reach 620 before we can get a house loan.


As you will quickly learn, most lenders don't know anything about FICO scores or how to improve them. These people here will help you, just listen to them. My score just raised 52 points this week be GW'ing (good will letter) from a medical collections. Go me!

 

Seriously, I had quite a few lenders try and tell me what was bringing my score down but they were wrong. These myFICO people are the best!

 

Good luck. You're on the right page. Be patient and it will get better.

 

Jeni


+1. I'm applying for a mortgage right now with a mortgage lender who says she worked in the industry for 20+ years and claims to know the inside and out of FICO scoring. Aheeemmmm, I cleared my throat with a smile. Here were some of her claims:

1) FICO only scores a CC if you carry a balance - FALSE.

2) Only app for a mortgage once as the inquiries will ding each time, regardless of time frame - FALSE

3) PIF open accounts and having $0 balances on any will ding your FICO score. - FALSE, so as long as one reports a balance.

4) 50% utilization is good utilization - FALSE

Message 11 of 14
ldohve
Valued Member

Re: Credit Score will not go up

Hi:

 

I wrote and emailed out my GW letters. I heard back from a couple. One place said they would remove an account, a couple said no they would not, and I am waiting to here back from the last one. I was hoping more would have said they would remove the accounts.

 

We paid the balances on both credit cards. We will use only less then 9% on one and leave one with a negative balance. We only got the credit cards to help build up our credit.

 

Thanks for everybodys help and advice. If anybody has anymore ideas please let me know.

 

ldohve

 

 

Message 12 of 14
JM-AM
Valued Contributor

Re: Credit Score will not go up

The objective of the GW game is to keep trying. Just because one person says no the next one may say yes. Also try other avenue's to send your GW to such as, other mailing addresses, and names of other heads of departments, supervisors, managers, President, CEO, etc etc...

 

Patience and persistence goes a long way when attempting GW's.

Good Luck
May all your dreams and wishes become a reality!
Message 13 of 14
Anonymous
Not applicable

Re: Credit Score will not go up

Hang in there, you've already spent a year trying to clean this up and now you're on the right path. DON'T GIVE UP! 

 

GW, GW, GW til they put a restraining order on you for bothering them so much! (kidding, they can't really do that) :-)

 

Find all the contact info you can - names, addresses, emails, fax numbers, etc. Don't give up!!!!

 

 

Message 14 of 14
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