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New Member
msfarenheit
Posts: 5
Registered: ‎04-03-2009

Fast Score Improvements

I just checked my official FICO score and it's a little lower than I thought at 708. No negatives, but my length of history and AAoA are are pretty short. I have some balances on my CCs (current util 7%), but I have the cash to pay them down/off.

 

I'm planning to buy a new car in about a month, so I'm wondering if there are any short-term fixes that I can do to quickly raise my score a few points. I'm not expecting any miracles, but I have heard there are ways to play with the CC reported balances that can boost the FICO score a few points. If you know about any of these techniques, please let me know.

Moderator
Shogun
Posts: 12,884
Registered: ‎04-15-2011

Re: Fast Score Improvements

Generally the trick to credit card util is to have all $0 balances on your CCs except for one and have less than 9% on that one.


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+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
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New Member
msfarenheit
Posts: 5
Registered: ‎04-03-2009

Re: Fast Score Improvements

Thanks for the tip. Does it matter which card reports the balance under 9%? I have cards with limits ranging from $750 to $10k.

 

Also, do you have an idea of how much a score could increase from doing that? I'd really like to get to 720, but I think that might be out of reach.

Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011

Re: Fast Score Improvements


msfarenheit wrote:

I just checked my official FICO score and it's a little lower than I thought at 708. No negatives, but my length of history and AAoA are are pretty short. I have some balances on my CCs (current util 7%), but I have the cash to pay them down/off.

 

I'm planning to buy a new car in about a month, so I'm wondering if there are any short-term fixes that I can do to quickly raise my score a few points. I'm not expecting any miracles, but I have heard there are ways to play with the CC reported balances that can boost the FICO score a few points. If you know about any of these techniques, please let me know.


This is funny after you read the heading and then this statement....lol

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