In need of advice please

[irodriguez7885]

Ok, so everything is paid off, I sent ou GW's and got as much taken off as I could. I also paid my CC's to 10%. My score jumped up to 616 from 485. so now what? What can I do to keep raising it? Will it go up on its own as time goes by? Do I need to get a secured? Do I need to just sit back and do nothing? Im stuck there is litterally nothing else I can do but to watch and hope? can someone please help me figure this out? Thank you.

[Anonymous]

Without knowing what kind of revolving debt you have, I would say pay all your credit cards down to a zero balance, except one.  Leave that one at 1% - 9% utilization (instead of 10%).

Good luck.

[irodriguez7885]

Revolving debt is as follows:

I have 3 Capital One CC's that total 2,000. Two of them $500 each are paid in full (zero balance). The third is a 1,000 limit at 10% balance.

I have nothing else, everything on my credit is paid off.

[Anonymous]

The only thing that would possibly help is to get the utilization to between 1 - 9%.    10% utilization puts you in a different bracket than 1 - 9%.  If it were me I would try to get it to 5% utilization.  That might put you over the 620 mark, which is a key number for mortgages.  Otherwise, only time will get your score higher.  

I will let others comment about obtaining new credit, because I think 3 cards are good.

[LIGHTNIN]

Do you still have any baddies listed on your CR? if so, are they due to drop off anytime soon?

Oh and BTW, How old are your CC's?

Maybe you can consider being an AU, on a family member or friends CC.

Just make sure it's older then your CC's, with no late payments.

[RobertEG]

Personally, I would not be too concerned at this point about tweaking your % util to get maximum FICO points.  % util has no historical memory.  Keep it at a manageable level that will permit you, when you decide to apply for new credit, to tweak it then.

I agree that removal of any old derogs or delinquencies would help the most, but you have apparently already done the GW route.

An installment loan would help your credit mix, but that is a low-weighted scoring category, and might be offset by a concurrent reduction in your average age of accounts.

The only quick and substantial thing I see is the suggested addition of a solid account by way of authorized user addition.  Just be sure that you know the history of any such account before you pursue that course.