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Higher Credit Score....

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llecs
Moderator Emeritus

Re: Higher Credit Score....


@toadie69 wrote:

Few more questions for you....

 

1) Do you think it would be impossible to get my credit score up from 666 to 700 with in 4 months? Provided I keep on my car payments and a low balance on my CC.

 

2) How long do I wait before I recheck my Credit Score?

 

3) Does MyFico (paying memeber) give me the option to check my scores more than once? If so how many times can I check it with out it costing more?

 

4) Is it better to pay your credit card IN FULL each month or leave a very small balance say under $50? I've heard both.

 

 



1) If the CC is reporting $0 now and not a higher balance, let's say 10% or more, then I doubt you'd hit 700s on the CC and car loan now. You might hit 700 if you add a CC, but you might not hit 700 within your goal of 4-5 months. It might take 6-12 months. What's magical about 700?

 

2) If nothing is happening and you aren't doing anything to check up on your baddies, I'd pull a new FICO on the first of each month if you wanted to look for any changes. At the first of each month, all of your accounts turn a month older and therefore your odds of a score change go up (e.g. AAoA turns older, oldest TLs turn older, of all the days in the month, there were more baddies dropped on the first than other months, etc.).

 

3) You can pull a new report anytime you want to via FICO® Standard. There's a sale going on right now to be sure to take advantage. The cost is normally around $20/report. If you are a subscriber to Score Watch®, then you get a 30% discount off all future EQ FICO reports. SW comes with two included reports per year, with the first being used when you subscribe. It'll also monitor your EQ FICO and monitor certain changes on your EQ report. Finally, FICO® Quarterly Monitoring is a pre-paid plan for TU reports and you get an automatic one every 3 months at a discount, plus 20% off all future TU FICO reports.

 

4) IMO, PIF your CCs monthly. When you go to apply for something major like a car or home, then you'd want to leave one CC with a small balance of under 9% of the CL and leave the rest at $0.

 

 

Message 11 of 13
toadie69
Member

Re: Higher Credit Score....

I only have one CC and a car payment. My CC I've paid off every month. So let me get this straight because I'm still a little confused. So you think it's wise to leave a balance on this one card (under 9%) verses paying it off each month.

Starting Score: EQ 666
Current Score: EQ 696 as of 8/8/13 704
Current Score: EX 688 as of 8//8/13 682

Goal Score: 725

Take the myFICO Fitness Challenge!

Message 12 of 13
marty56
Super Contributor

Re: Higher Credit Score....

Always PIF.  It is the reported balance that maters so pay the minium payment plus extra to get the statement balance below 9% and then pay the rest by the due date so you don't pay any interest.  IMHO for scoreing purpose $1 is as good as a full 9% so to make things easy, if you charge $100, pay $99 before the statement date and then pay $1 before the due date.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 13 of 13
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