10-10-2012 12:23 PM
Ok Im going to make this as short and sweet as I can. Hubby and I are looking to buy a house. I called the lady at the bank after they pulled our reports. She didn't say what my scores were but said they were ok. Bad news was my husbands were between 555 and 589. Mine can't be too far from there. We filed for bk 3 years ago this past AUG 17th and it will be discharged for 3 years as of NOV 25th. Since then He was able to finance a truck and between us we have about 16 credit cards. They were pretty maxed out. That's what she said would be stopping us from getting the home. We came straight home and paid them all down to 30%. How long will it take to see a change from that. All together we paid about 4000 out to get them down to 30%. Thanks for your help!!!!!
10-10-2012 12:31 PM - edited 10-10-2012 12:32 PM
your accounts should report the new balances as the statement cuts. Will take the CRA's a couple of days to update there info also you should see a score increase due to you utilization being lower.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO