Newb here looking for a second opinion

[Anonymous]

Forgive me for not using all of the common abbreviations. I’ve been reading post after post and I’m still not quite used to them yet. Any ways, I recently went to a loan officer to figure out the possibility of getting a FHA home loan. When he pulled up my CR it came up as follows: XPN 627 EFX 601 TUC 600. I had two credit cards when I was 18 which I did not pay one was from B Of A for $2000 and the other for USAA for $5000 the one from B of A the LO told me to just leave it since they were reporting it as charged off balance of 0 for now. He advised to write a letter to USAA apologizing and requesting to reinstate the account with an offer to pay the past due balance which shows as $2000. Is this even possible?  He also has advised me to remove myself as an AU from my Mom’s CC which has a limit of 12000 and a balance of 8000. He said the removal should give me a temp boost high enough to get my scores over the 620 hump. I also have another credit card for $1000 that I use for everyday expenses and always payoff twice a month. Am I utilizing this card wrong?  I also have a time share that I am almost done paying (minus the annual user fees but those don’t get reported on my credit) in about three months that gets reported as an installment payment like a car. When that gets paid off and no longer reported will it hurt my score? I’m looking for a temp boost but also a long term solution as well. What is the best way of going about it? Any help would be greatly appreciated.

[JoeBJay20]

There's no question that the high balance on that card is hurting your score.  Ideally you want your totally CC utilitization to be 9% or less.  Probably being removed from that account or having the balance paid down would get your scores above 620.  As far as getting your account with USAA reinstated, you can always ask, but there's no guarantee.  Is there a CA reporting on that account or the BoA accounts, or just the OCs reporting?  With the installment loan, YMMV, some people have seen increases, other decreases, but generally a small movement one way or the other.  I would suggest reading Credit Scoring 101, Common Abbreviations, and Where Do I Start? for more information on the credit rebuilding process. 

[Anonymous]

You may lose length of history if you are removed as an AU.

[Anonymous]

I was told the account is with the OC for both accounts but they’ve been unpaid for about 3 years. Is that common for them to hold them that long?? Does that sound right? I have no collections according to myfico. Yes my AU account is the oldest account but then again not even old enough to have an account older than 5 years so would it really make that much of a difference? Loan Officer said I should send letter before calling USAA. Would I be better off writing first?