Is a 50 point increase in 30 days possible?

[Anonymous]

Greetings FICO Friends!

My goal is to raise my scores to 650 by April 2015 so that I may buy my first home. I've been working with a mortgage broker but she hasn't given me any suggestions on how to raise my scores. Maybe you guys can help!

TU - 608
EQ - 604
EX - 598

My positive tradelines are:
*Credit card- $1300CL / $365 balance
*14 student loan tradelines- Paid as agreed/Deferred
*Car Loan- Pays as Agreed (opened in Nov 2014)

My baddies are:
*CO credit card- Last date of activity 1/2010 $500CL/$1004 balance
*Medical Collection- $412 Date Assigned 9/2014
*Utility Collection- $310 Date Assigned 11/2010
*150 late on private student loan (statements were going to wrong address!)

*AU user of a CO credit card

In the next 30 days I plan to:

*Bring past due student loan current then sending a GW letter to ask that lates are removed
*Paying open CC balance to $50
*Sending a PFD letter for both collections
*Consonlidating student loans

*Remove myself as AU of CO account

Any suggestions on what I should/shouldn't do to bring my score up?

[RobertEG]

You are heading in the right direction with our proposed actions, but PFDs and GWs will almost certainly take more than 30 days to negotiate and then have any reported deletion clear the CRAs.

[Anonymous]

Thank you for the encouragement! I'll get those letters sent out right away! 

[Anonymous]

I recently just got my student loans deferred last month. I can have them remove the lates from my record now? Because my deferment is from July of 2014-July 2015 and I received the deferment in January.

[Anonymous]

Can't say this is a sure fire way, but I just did raise mine by 51 in less than a month. How? Opened a few new CC's (secured) and boom.

Apparently 3 credit cards are what is needed (all under your name, not AU) and that should help.

Good Luck!

[Anonymous]

Yanks 2014 said

Can't say this is a sure fire way, but I just did raise mine by 51 in less than a month. How? Opened a few new CC's (secured) and boom.
Apparently 3 credit cards are what is needed (all under your name, not AU) and that should help.
Good Luck!

No way!  I'm going to try it! Thank you for giving me hope! 

[sisyphus_project]

I've raised my EQ and EX 27 40 and 27 points, respectively (hasn't hit TU yet), in the last week by paying off a good chunk of my then-75% utilization. I'll probably be at a 50+ gain after the next few cards' statements hit. 

[Anonymous]

Adding cc's did it for me when I had no trade lines. Huge difference. I think anticipating the point jump is kind of like predicting the weather. You may have a good idea founded on some good reason, but the FICO gods may throw you a curve ball.

[cartwrna]

The issue with adding CCs is that the new accounts will be frowned upon by a mortgage underwriter. It may also hurt your AAoA depending on what it's at now. One suggestion is get the AU collection removed. You have no financial responsibility towards it therefore it can be removed. Call and have the OC remove it from your reports.

[Anonymous]

50 points in a shirt amount of time can be done...just takes the time and effort...

I've been working on credit reports since the last week of 2014 and here are my gains:

EQX - 586 (1/16/15) to 633 (2/21/15)
TU - 611 (1/16/15) to 617 (2/22/15)
EXP - 602 (1/16/15) to 642 (2/22/15)

This was done with no new lines of credit, just got ole' fashion checking and cleaning. I know it's not 50 in a month, but for 2 of the 3, its pretty damn close.

I've got a little more work to do over the next 2 months. Im hoping to have my FICO 8 scores above 675 and my FICO mortgage scores up to 640 (at least 2 of them for middle score purposes)...