Credit update what should I do now?

[Anonymous]

Hi I posted last week on this forum asking how I can increase my score 100 points to get a mortgage. I was at a experian fico 8 score of 531 I paid my cards off now it updated today at 629 experian I have 3 cards all in good standing credit one. Discount tire. Finger hut. I have 3 installment loans all in good standing and 4 collections latest one from early last year my utilization went from 88% to 32% what should I do now any new cards i can get? I really want to try and get my fico 8 experian to 700 before I try to apply for my mortgage.

[Anonymous]

Keep paying down your current good debt. Way to go on score boost. Your best bet is to begin PFD on the CA's. Best of luck.

[Anonymous]

I'm going to finish paying off all my cards and 1 installment loan this coming pay day. As for the Collections none of them will budge on pay for delete tried countless times. Also I'm using experian credit tracker which says it uses FICO 8 scores, are FICO 8 scores what most lenders use now? And is this accurate. Cause I feel like my score going from 473 in July 2015 to 629 in September 2015 just for paying down$1600 in credit cards is too easy. Of corse they were all maxed out a few over the limit.

[Anonymous]

There are many FICO versions. I believe 08 is the one most banks use. There are others geared more for car loans, mortgages, etc. Yes, it is that easy. Utilization is a key component in your score. Maxing out credit is a big red flag, luckily, utilization has no memory so keep those down and let one card show less than 10% each month and you will be in great shape. Keep after those CA's. It just takes one person to say yes and help you out. Best of luck to you!

[RobertEG]

Perhaps the debt collectors may soften if you pay and then request a GW deletion of the collection.

Perhaps someone with actual prior experience with your individual debt collectors can advise as to their experience in obtaining a GW deletion after payment if you post the names of the debt collectors............

[Anonymous]

The score boost just from paying down UTL is surprising and amazing. I went from around 90% total UTL to now at 71% reporting. was good for close to 40 points across the board.  one of my mortgage scores jumped from 536 to 601.  My actual UTL is 47% now, just waiting on the recent payments to report, anxiously waiting on the score result.  I plan to be under 30% by the end of the month, which should be a nice boost as well.

[Anonymous]

My Collection's on my experian report are
Automated collections $757 reported 9/2014 EMS abulance bill

PENN credit services $1,347 Verizon bill from 2012 reported 06/2014

Pennacle Corp $239 electric bill from 2012 reported
08/2015??

Fox Collections $25 10/2013 paid in full on 06/2015

World Finance $425 04/2014 charge off

My TU and EQ are showing the same plus a repossession from 2013 for $2,800