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Rebuilding and getting our scores up.

New Member

Rebuilding and getting our scores up.

My husband and I have been working on getting our credit improved for the last seven years. We finally hit the minimum 640 score in order to qualify for a house (yay!) but once that hits my credit will my score drop? What kind of things can we do to get our score into the 700 hundreds? At some point next year we are going to be looking for a new car and I want to be sure to get the best rates. Currently my score is 640, I have a capital one limit 500, an orchard bank also 500, one student loan and two auto loans both over a year old and have zero lates. My husband has the same minus the student loan and his limits are 300. I'm not sure how many inq we have. This year alone we have only had our credit pulled for our mortgage several times. (lender shopping) I'd like to get approved for some higher limit credit cards once we have closed on the house to furnish it with. But mostly I want good credit. After years of struggling and always having higher interest rates and being turned down for loans I just want a good score so that if and when we need an auto loan or buy another house we don't have the worry of will or will I not be approved and get a good rate. Smiley Happy

Message 1 of 4
3 REPLIES

Re: Rebuilding and getting our scores up.

Continue to pay your bills on time and it will take care of itself.

Message 2 of 4
Regular Contributor

Re: Rebuilding and getting our scores up.

Time will help, as will keeping the reported balance on your credit cards extremely low (9% or under). Good luck! 

Starting myFICOs 2013
TU:664 March --> 726 May 25
EQ: 687 on March 6 --> 772 May 25
USAA EX (FAKO): 701 March 27 --> 768 May 26
Original goal (720+ across the board) achieved!
Message 3 of 4
Moderator Emeritus

Re: Rebuilding and getting our scores up.

Once you get your mortgage, you'll probably have a slight initial drop.   That's ok, just continue to pay on time, the mortgage and your revolving accounts will continue to age and your CR will get healthier.  This will allow your scores to grow.

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 4 of 4