Understanding FICO® Scoring

[ee]

So TU has broken 700 already but EQ is still struggling.  (And we won't even talk about EX)  What should I do to get EQ above 700?  Here's my stats:

• Current score:  655
• Utilization:  58%
• Most recent late:  5 yrs ago
• Medical collection: Feb 03
• 10 late payments:  7 x 30 days + 3 x 60 days
• Utility collection:  120 days - Jul 02

Any suggestions?  Thanks!

[haulingthescoreup]

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ee wrote:

So TU has broken 700 already but EQ is still struggling.  (And we won't even talk about EX)  What should I do to get EQ above 700?  Here's my stats:

• Current score:  655
• Utilization:  58%
• Most recent late:  5 yrs ago
• Medical collection: Feb 03
• 10 late payments:  7 x 30 days + 3 x 60 days
• Utility collection:  120 days - Jul 02

Any suggestions?  Thanks!

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Utilization: 58%

'nuff said.

Your goal is total util <9%. And individual card or two can be quite a bit more, although your best bet is to have all revolving util quite low.

Revolving util is a huge factor in your scores. First shoot for 49% or less, then 19% or less, then 9% or less.

For the various derogs, check Rebuilding Your Credit for ideas on how to get some of them spiffed up.