Understanding FICO® Scoring

[j_cwayman]

So I don't know where to go and need help

[j_cwayman]

don't know what happened but anyway.  So I have spent the last 2 months paying debt down almost $3500 I have now a total amount of Credit debt at 38%  down from 71% first month of having things removed and marked as paid and balances down to zero I had an average of 45 point jumps now to the mid 500's another month has passed and paid down even more to now be at the 38% debt and i have not seen a increase in scores at all.  I don't know what to do.  DW and I need to be at least a 620 within another 2-3 months what more can I do to get these scores to go up??  Plus I have a CB Orchard Bank Card that they said NO to a CLI i have never been late and have been with them for over 5 years. Please help anyone I could use some good news.

[llecs]

I saw your other post. Your utilization is still too high. Get each individual card under 9%.

Orchard isn't too keen on CLIs, at least free ones anyway.

What baddies do you have reporting?

[j_cwayman]

I have a auto lease that reported 2 months ago I was 30 days past due.  The leaseing company wouldn't remove it even though they took the money 4 days before it would have been 30 days past due. it was a honest mistake and they refuse to take it off, other than that I have 4 total late payments over 12 months ago and on one card iot was 3 years ago. other than that I have everything reporting paid on time.  My highest CC limit is my treadmill I got over a year ago it has a 1500 balance And a 900 balance on my platnium card other than that everything will be at 0 balance.  I am lost on what to do

[Thejumpsuitman]

You need 620 for a mortage?  Screw the credit score and ask for a manually underwritten mortgage.   If you do it that way, they will actually look at your situation instead of plugging your numbers into a stupid computer.  If you have a trend of paying lately, this might work.

[llecs]

That 30 day is killing your FICO score. Start sending GWs ASAP. Include proof that you paid before the due date but keep the letter friendly and short.

How severe are the lates from 3 yrs ago?

Pay down those CCs. FICO looks at overall AND individual utilizations. Pay them down below 9% two months prior to wanting to buy.

I haven't read details, but did you pull both FICO scores from this website?

[j_cwayman]

I have nothing showing anymore than 30 days late.  I plan on paying them down asap but it has been financially draining to get to the point I am at now.  I have tried GW phone calls with no avail.  I will now do GW letters.  I pull my EQ directly from there site and my TU actually did go up this month to a 573 from there site.  But no other scores have changed in over a month

[llecs]

Keep with the pressure on the GWs. All it takes is one "yes". Aside from letters, try e-mailing, faxing, calling, smoke signals, or whatever it takes. Also try sending letters to the CEO/pres. of that firm. Another good resource is planetfeedback.com. They helped with a PFD to Verizon Wireless once.

I wouldn't sweat the old 30 days. Likely they aren't hurting your score at all.

If you pulled your score directly from EQ, then you have a true EQ FICO score. If you pulled your TU score from TU, then you do not have a TU FICO score. The score from here would be different.

[Shnapple]

On a side note - If paying down your CCs is "financially draining", then you may want to reconsider whether or not you can afford a home at this time... It sounds like you may not have any money to put down and/or have the resources to do any major repairs on the house if it comes up.

[j_cwayman]

It's not that I can not afford to pay them it just makes it tight paying $800 a month on cc balances when use to only pay double the payment on the bill that is why it is financially draining.  An we are buying a new modular and we already have the land free and clear.  That is our down payment over an acre of cleared land.  I just need those darn credit scores to come up