cancel
Showing results for 
Search instead for 
Did you mean: 

Need help... Need to bump score by 22 points...

tag
patelneil
New Member

Need help... Need to bump score by 22 points...

I got my myfico (great site by the way) EQ score today and it came back as 718. I am leasing a car this week and they require 740 for tier 1 rates. Can anyone please help suggest any quick ways to bump my score?

My details:
Credit utilization is 22%
Have no mortgage
Currently don't have a car loan
Only have revolving credit and installment credit on my file

Thanks
Message 1 of 5
4 REPLIES 4
09Lexie
Moderator Emerita

Re: Need help... Need to bump score by 22 points...

Auto loans approvals use auto enhanced FICO scores which you cannot buy. Unfortunately,there is no way to determine how close or if you are even over the 740. In case you are worried, getting your util down and having it update before you app would be the other way to go.
Message 2 of 5
Schoolbuskid
Valued Contributor

Re: Need help... Need to bump score by 22 points...

Paying down your utilization between 0-9% would yield you some points, but likely wouldn't help you due to the short window you have. The new balances would need to updated with the credit bureau to yield any points.

Rebuilding and Reducing Debt, is my game plan.
Message 3 of 5
patelneil
New Member

Re: Need help... Need to bump score by 22 points...

What is an auto enhanced FICO?
Message 4 of 5
09Lexie
Moderator Emerita

Re: Need help... Need to bump score by 22 points...

Scores used by dealerships for credit purposes. Just as credit card companies may use bank enhanced scores. They are specific to the type of loan and are not available for purchase by consumers.
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.