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Posts: 101
Registered: ‎01-15-2013
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Trying to improve score

I don't have much on credit report. Three old medical bills under 100. An old card that has been closed for 6 years. Student loan on time mortgage that was late last year current. One Capitol one card with low limit. What should I try to add to help score? Who reports the most accurate score?
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Established Contributor
Posts: 622
Registered: ‎11-13-2013
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Re: Trying to improve score

[ Edited ]

Welcome to the forums!

 

myFICO provides your FICO scores, but there's 49 different FICO scores to be had. Each of them will be different, and not all of them can be obtained by you. As long as you find out what your real FICO score is, that will help you know where you stand as far as creditworthiness is concerned.

 

If you haven't already, I recommend that you join up for Credit Karma (CK) and Credit Sesame (CS). They both provide FAKOs, but will help you monitor your credit, and give you an idea where you stand. Take the scores you get from them with a grain of salt. Some have had their FAKO be wildly off from their FICOs.

 

There's no one score that is more accurate -- with the exception of CK and CS as those are FAKOs meaning just about guaranteed to be inaccurate -- than another as you don't know precisely which report the creditor will look at and how they will score that report. Some of us know what the more popular companies will use, but some companies use an internal scoring formula.

 

You will want to start working on your most recent negative by sending a goodwill (GW) letter to your mortgage company.

 

Are the medical bills paid? If not, send them pay-for-delete (PFD) letters. If they are paid, send a GW letter asking them to delete the collections.

 

With the card, pay at least twice the minimum payment, or pay-in-full (PIF) every month. After a few months of doing so, you can request a credit limit increase (CLI).

Scores2013-09-21Current
Equifax630 (LP)755 (CK)/749 (Quizzle)
Experian640 (FCR)FICO 707 (Amex)
TransUnion588 (CK)FICO 754 (Barclaycard)

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