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Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Need Advice

I started the rebuilding process coming up on six weeks ago. After reading countless hours on here I did the following:

Disputed negatives on report (some have come off already, and waiting on others )

Paid revolving credit line down to 19% util

Convinced Honda to delete most recent late (oldest is now 8 months ago)

Had wife add me to perfectly paid Discover acct that is 5 years old

Opened Cap One secured card and will PIF

Found on my report that Trans and Exp were showing open auto that was paid off 6 months ago leaving me with 3 open autos on both reports. Credit union updating and should be correct on a couple of weeks.

My scores have come up aprox 60 points in the 6 weeks since I started, however I need another 50 or so to qualify for a home loan. Anyone have any other ideas on how to get the extra bump that I have not as of yet. I should get something from that auto reporting correctly, and with other baddies coming off, but I'm running into a time crunch on this home loan. Any advice would be greatly appreciated.
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Need Advice

Pay down your util to 9% or below, but not to 0% and you should see another bump.


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!
Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Re: Need Advice

Thank you Shogun. I will do that right away.
Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Re: Need Advice

Update
Credit Karma updated the auto loan as paid and bumped there FAKO score 4 pts. Any ideas on what the real bump should be?
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Need Advice

No idea, my Creditkarma is over 80 points lower than my FICO score.


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!
Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Re: Need Advice

Good to know.
Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: Need Advice

drop that credit card util below 9%, I saw the most when I got 1%.


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



Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Re: Need Advice

Thanks Jadiet788,
I will pay it down to the 1% before it reports at the end of the month.
Established Member
bullitt149
Posts: 15
Registered: ‎02-05-2013
0

Re: Need Advice

Update!
6 baddies just came off and credit karma went up 25 points and transunion score sense went up 32!
Very excited now!
Frequent Contributor
NewbieReed
Posts: 416
Registered: ‎12-05-2012
0

Re: Need Advice

NICE!

Starting Score: 526 EXP 09/2012 600 FICO 10/2012 608 EX (lenderpull)11/2012
Current Score: 4/2013 TU FICO 697, 02/2013 EQ 698 FICO (lender) 04/2013 674 Credit Sesame
NEW GOAL SCORE FOR 2013Breaking into the 700 club
[OLD GOALS: For now- 680 on all 3 = GOAL REACHED IN 02/2013}
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