Is getting to 620 by August obtainable ?

Isaiah2990 · ‎05-05-2012

My first goal is to have all my bad debt PIF or removed off my CR by August..is this possible..my fico score is 491 right now.

Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!

FrugalRican · ‎05-05-2012

It's possible. You have three full months to work with.

Just get those derogs off, if you can, and work to optimize your revolving debt utilization.

EDIT: BTW, simply PIF your debt off won't affect your score. You either need to PFD it or PIF and then GW. You definitely need to get them OFF your reports.

Follow my financial journey: http://www.frugalrican.com

EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

nvrgiveup08 · ‎05-05-2012

It is possible but it will take following the advice of the credit gurus on the site. I was in the same boat in January and now Im up to a 600 and still climbing. I have a secured card and two low limt cards I am working on juggling my utilization now to get the maximum score increase as possible. Good luck and keep us posted

No place to go but UP

EQ 632
EX 648
TU 648

kdmitchell27 · ‎05-05-2012

I definitely think so. I also recently started cleaning up my credit and in March my credit score was a 580 (fico), it's currently at a 602 and I just had 2 items removed from my credit score in the past 3 days so I imagine when I pull it again it will be even higher.

Just make sure you pay your major bills (Credit cards, car payment, mortgage) on time and pay attention to your CC utilization.

Good Luck!

Lender Pulled Credit Rating as of 4.10.2013. (Fico Experian: 660) (Fico TU: 685) (Fico Equifax: 659)

Isaiah2990 · ‎05-05-2012

This what I plan on knocking out by August..

MCM / Credit one - $835
Payliance - $61
LCA - $70 (medical)
NCO (not reported on CR) - $650
First Premier - $400

Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!

Isaiah2990 · ‎05-05-2012

Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!

Isaiah2990 · ‎05-05-2012

The only payments I have is my car payment and a secured loan..no cc.

Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!

FrugalRican · ‎05-05-2012

If you are looking for 620 as a mid-score, then it means you want to buy a house by August, correct?

They might ask you for three tradelines come mortgage time (I'm not well-versed in this, so maybe mortgage "expertise" can help)... so you might want to consider at least a secured CC as well.

A revolving account might ding your score though, at first.

Follow my financial journey: http://www.frugalrican.com

EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Isaiah2990 · ‎05-05-2012

Naw. I just kinda want to just set a goal for myself..and I'm trying to get better job opportunities but my credit has been holding me back.

Starting Score: FAKO EQ 497 EX 516 TU 517 (4.28.12)
Current Score: FICO EQ 587 (9.29.13) TU (GECRB) 596 (2.19.13) EX (USAA) 482 (3.12.13)
Goal Score: 700 all across the board!