How to increase my score quickly

[Anonymous]

My current score is 624 and I want to get to 700 by the middle of next year if possible.

I have a discharged Chapter 7 account filed on 9/5/05 . Chapter 13 filed on 5/13/10 dismissed  and another one filed on 8/16/11. All of them are paid in full.

My student loans were paid in full. Nothing in collections.

4 credit cards..(Credit Limit 1100/ Balance 472. Credit Limit 651/ Balance 176,Credit Limit 400/ Balance 202,Credit Limit 700/ Balance 336)

Open Car loan 9,513 no late payments.

House - No mortgage- paid in full.

I have 14 accounts with negative indicators that were part of my Chapter 7/13.

[seruby]

I'm sure others may request more details about what's on the report, so they can offer better specific advice.

From what you provided though, I would suggest paying down those cards.  They say it's good to have under 30% of your limit reported - best if you get under 10%.reported.  3 of your cards are close to 50%, only 1 is under 30%,  and your total utilization (1186/2851)  is about 40%.  

If you pay off the 3 cards with the CL under 1100, and pay about 360 on the card with the 1100 CL, it'll bring your Uti for that card to 10%, and bring your overall uti to 4%.   That should give you a bump in your score.    

Then, I'd say use 2 cards every month, pay 1 in full before the statement date, have the other report a low balance, which you then pay.  Then the next month, use the other 2 cards and follow the same process.  This way, there's always activity on the cards so you don't risk getting them closed, and it makes it easier to pay off the balance if it's all in the same place.

[pizzadude]

I agree that paying down revolving debt is the fastest way to improve your FICO score.

It's hard to know exactly how much your score will increase though, as the BK will be keeping your score down.

[baller4life]

+1

[Anonymous]

Thanks for the great advice.. I will definitely try that.. 

[Imperfectfuture]

In addition, besides getting the util down, once that is done, try getting a credit builder installment loan (my credit union starts them off at 2.2 interest, much better than the unsecured loans). Check into a credit union near you,

Since the house is paid off, a personal loan will add to the mix, and can bump your score. I would do that when you have the cards under control.