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New Member
knine
Posts: 3
Registered: ‎01-18-2013
0

I NEED 1 POINT INCREASE... PLEASE HELP

I am fringe to qualify for my VA home loan. I had a mid score of 626 in Dec. Then I had to buy a car and I had a collections removed. When they pulled my credit last week I was a 619. I do not have any revolving credit. I have 5 old accounts that are paid off and 2 recent paid collections. Student loanshave been consolidated. but not showing up yet. I recently was added as AU for an credit account. I there anything else I could do to get the one point needed?
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Valued Contributor
starry1
Posts: 2,228
Registered: ‎11-29-2012
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

[ Edited ]

You need revolving credit. When are you trying to buy a house?

. Are those fico scores or fakos?

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 10/26/14 TU 632; EQ 650; EX 641
Goal Score:  625 for now– New goal 675

Cap1 sec $1k (SD) / Fingerhut $1.3k / nRewards $12k / cashRewards $10k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $500 / Target $400 / PPSC $800 / Texaco $400 (last app 09/29/14)
Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

You need revolving credit and I agree.  Try a credit union, to me this is the quickest way.   When you fill out the application they generally have  a line that asks why you are apply?  State that it is to rebuild my credit.  You should not have any problems with that.  My credit boost happened instantly the same month I applied.  Others might tell you to apply for a secured credit card.  Either way good luck.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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New Member
knine
Posts: 3
Registered: ‎01-18-2013
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

As doom as possible... I will try with a credit union! Thank you!!
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

no no dont rush ! you have to ask lender first. is it ok for you to open a new credit card. If they said no. you have to look for more AU, that account over 4-5 years are good.

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

if you are geting a va loan, i guess you are military, try the Navy Federal Credit union, its an excellent bank.

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

It is usally not good to apply for credit within 6 months of applying for a mortgage.

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

+1  Pretty much the cardinal rule is no new credit within 6 months.  


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Member
browsing1
Posts: 3
Registered: ‎09-27-2011
0

Re: I NEED 1 POINT INCREASE... PLEASE HELP

[ Edited ]

Do you know what the utilization is on the AU card? May be able to pay it down a bit and get a boost. Your lender may be able to "rapid rescore" to see if this will give you the point you need.


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