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I NEED 1 POINT INCREASE... PLEASE HELP

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Anonymous
Not applicable

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?
Message 1 of 9
8 REPLIES 8
starry1
Valued Contributor

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

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: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 2 of 9
jadeite788
Established Contributor

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

Take the FICO Fitness Challenge



Message 3 of 9
Anonymous
Not applicable

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

As doom as possible... I will try with a credit union! Thank you!!
Message 4 of 9
TrishN
Established Contributor

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
Message 5 of 9
zerobacan
Established Contributor

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.
Message 6 of 9
guiness56
Epic Contributor

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.

Message 7 of 9
Shogun
Moderator Emeritus

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+
Take the myFICO Fitness Challenge

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 8 of 9
browsing1
New Member

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

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.

Message 9 of 9
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