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How much of a jump (if any) can I expect?

New Contributor

How much of a jump (if any) can I expect?

I am anxiously trying to get all my 3 scores at 720 by September.  I have paid off all revolving debt, I have 1-30 day late that will be 1 year old in May of this year, The other 30-days are over 5 yrs old (but still reporting- from a time in 08-09 when I was on medical leave)  My AAoA is 11 years.  I have a current auto loan that is 3 yrs old and current.  My total revolving debit is 15K and I never had any COs or Bankruptcy. An old IRS Tax Lien was totally withdrawn and no longer reporting on any of the 3 CBs.  My current EQ is 670 and TU 686.  I am hoping that the "maturing" of the 30-day will give me a much needed boost.  I have to get my scores up by 50 points in6 months.  Anyone with any thoughts as to how much a jump I can expect?  My most recent HP was in November 2012 when I tried to pre-qual for a mortgage (found out the hard way that my bank's credit score was a FAKO and did not correlate well with FICO)



Starting Score: 5 43 Ex May 2012 EQ May 2012 550
Apr 2013 Score: Apr 2013 TU/ 683 Ex /670 EQ/ 686

Dec 2013 EQ/751 TU/730 EX 762

Goal Score: 740


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Message 1 of 5
4 REPLIES
Regular Contributor

Re: How much of a jump (if any) can I expect?

You said your total revolving debt is 15K and paid off. So what is your utilization at now? Zero percent?

Message 2 of 5
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New Contributor

Re: How much of a jump (if any) can I expect?

Fluctuates between 0% and 4% each month.  I have some website fees that bill to one of my cards monthly.  Other than those (and the pesky 7.00 monthly "membership fee" charged by First Premier- I have nothing on my revolving)  ---and the reason I have not closed the First Premier accounts is that I don't want my AAoA to take a dive and lower my scores.  Once I get the mortgage approved and closed, trust me, I will drop those First Premier Cards like a bad crack habit!!



Starting Score: 5 43 Ex May 2012 EQ May 2012 550
Apr 2013 Score: Apr 2013 TU/ 683 Ex /670 EQ/ 686

Dec 2013 EQ/751 TU/730 EX 762

Goal Score: 740


Take the myFICO Fitness Challenge
Message 3 of 5
Valued Contributor

Re: How much of a jump (if any) can I expect?

50 points is possible.

 

I would GW the late. Since it's almost been a year and you have been current, you stand a chance at them being nice to you and removing it.

 

The trick with your credit score is faking out FICO. I would always let a balance report, albeit, on one of your lowest APR cards but nothing over 9% of your total revolving line. For you that would be $1350.

 

 

Scores: about 700 across the board
Total CL: $275k
Message 4 of 5
New Contributor

Re: How much of a jump (if any) can I expect?

Yeah, I have GW'd the 30-day late every other month since it occured and I get the same, standard "we cannot remove accurately reporting information...yadda..yadda"  so I will continue to drip away at them like a dripping faucet until somehow, somewhere, someone will open the letter and decide to do the deletion.  50points is exactly what I need across the board on all 3 CBs.

 



Starting Score: 5 43 Ex May 2012 EQ May 2012 550
Apr 2013 Score: Apr 2013 TU/ 683 Ex /670 EQ/ 686

Dec 2013 EQ/751 TU/730 EX 762

Goal Score: 740


Take the myFICO Fitness Challenge
Message 5 of 5