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Reaching the 700 club

Regular Contributor

Reaching the 700 club

Hi all,

 

I have been paying all my credit cards with not lates at all, since 2010. i have two CO with HSBC and First premier, but they are all paid in full(they're two years old) walmart fico score reads: 680, and currently UTI is 37%. when do you all think i will reach the 700 club?

 

Thanks!

Old Navy: AU $600----------------Walmart(store card): $900 & FICO: 680
Sears Mastercard: AU $300-----TU: FICO 652 April/2012
Emblemcard: $325------------------EQ: FICO 668 April/2012
Discover: $1,000-FICO 695 4/25/12---------Bringing home Amex in 2013!
Cap1: $750 Gardening mode until April 2013
Cap1: $500



Message 1 of 6
5 REPLIES
Frequent Contributor

Re: Reaching the 700 club

Zero out the balance of all cards except for one card. Then get your util% to 5%-9% on that last remaining card. Going from 37% util to what I've outlined should get you to that point. 

 

Please post your results when you're balances update. Good luck. 

Re-entered the garden on 9/16/2013.


Starting Score: (TU) 517 (EQ) 469 (EX) 519 (6/1/2010)
Current Score: (TU98) 714 (TU04) 712 (EQ Beacon 5.0) 672 (EX -FICO v2) 724 (6/13/13)
Goal Score: 700 Club for all 3 (2 out of 3 so far)


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Message 2 of 6
Regular Contributor

Re: Reaching the 700 club

getting your utilization down as noted above will help out, but I think those chargeoffs are going to need some aging before you see 700. I'm guessing you'll get there within the year, but it likely will take 7-8 months, not 3 or 4


Starting Score: 653 (11/1/2011 TransUnion)
Current Score: 719 (5/3/2012 TransUnion) 572 (3/21/2012 Equifax) 762 (4/14/12 VantageScore)
Goal Score: 700


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Message 3 of 6
Frequent Contributor

Re: Reaching the 700 club

I dunno, hateAshbury. Moving from a 37% to optimal util may span those 20 points. Now, AFTER the util optimize, nothing is going to change until you get those CO's off. But I think 700 is attainable by just optimizing util here.

 

Who knows? Smiley Indifferent

Re-entered the garden on 9/16/2013.


Starting Score: (TU) 517 (EQ) 469 (EX) 519 (6/1/2010)
Current Score: (TU98) 714 (TU04) 712 (EQ Beacon 5.0) 672 (EX -FICO v2) 724 (6/13/13)
Goal Score: 700 Club for all 3 (2 out of 3 so far)


Take the FICO Fitness Challenge
Message 4 of 6
Valued Contributor

Re: Reaching the 700 club

its highly possible reaching 700 by lowering your util like others suggested. you stated no lates since 2010. how old are the charge offs and are there any lates on your reports? is there a specific card your wanting or just wanting to get 700 and do the happy dance?

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Message 5 of 6
Highlighted
Regular Contributor

Re: Reaching the 700 club

I was able to get 23 points by paying down to 1% util, I though everyone's situation is different I think you should see a score boost once your util is below 9%.

Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
, current Score (3/16/17) EQ: 724. Goal Score: 700


Take the FICO Fitness Challenge
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