How high can it go in 10 months?

[Anonymous]

Hey all,

My fiance' and I are going to try and buy a house in June. My credit really went down hill from my past decisions and my ex. I know that for a lot of mortgage companies the credit score needs to be up and over 650 in order to qualify. My question is how high can my score go before June 2008? Can I reach my goal if the bureus show my score at Experian 560, Equifax 557, Transunion 600?

Thanks for your help.

[Anonymous]

Definitely can be done.  Do you have any open revolving accounts in your name right now?  What about installments?  Hows the utlization.  Have you eyeballed your reports to make sure all info is accurate?

[Anonymous]

Thank you for a response. Yes. I do have installments as well as a couple active revolving accounts. I have looked at the reports and they seem to be pretty accurate. My only concern is that I fought with Verizon about my bill for a couple months and they marked my account as a charge-off for a few months and then I paid it off. I need to get this taken off but I don't know if I can as it was only last year. Any ideas.

[Anonymous]

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prncess473 wrote:

Thank you for a response. Yes. I do have installments as well as a couple active revolving accounts. I have looked at the reports and they seem to be pretty accurate. My only concern is that I fought with Verizon about my bill for a couple months and they marked my account as a charge-off for a few months and then I paid it off. I need to get this taken off but I don't know if I can as it was only last year. Any ideas.

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The last time I had a collection added to my bureau it resulted in a 50 point drop... they are very damaging. Luckily for me I had it removed after the war of the century.

That being said, even that collection will have less of an impact as it ages.  If thats all you have Derog on your reports, your best option would be to get your utilization down.  What oes your overall utilization look like.  that and extra payments on your installment loans to bring down the outstanding balance will help as well.

[Anonymous]

prncess473  - paying down revolving accounts below 10% utilization works.  I payed mine down the month of May (4 revolving accounts) and it resulted in 27 point gain from EQU, 32 points from TU and 24 points from EXP.  Needless to say, i pretty happy about it and I plan to leave the utilization below 10%.  Good luck!

[Anonymous]

A different kind of utilization also counts in your score -- you need to have billed balances on a low % of your accounts.  If you have 4 CC's and 3 have billed balances, that's 75% utilization, which counts against you.  What you can do is pay off whichever of your cards you are able to pay off.  Then keep those cards active by making a charge about every 6 months.  Either let the CC bill you every six months or just pay of whatever you charged that month before the closing date so it will still show a zero billed balance.  Keep your % of cards with billed balances below 50% and it will help your score.  If you don't make a charge every few months, the card will drop off your CR which means lower total available credit and a higher % of credit cards with billed balances. If one card drops off and you now have three, and if only just two of the cards still have non-zero billed balances that's 67% CC utilization.  If you let the card be billed with a balance, your score will take a hit, but the months it is at zero balance, your score will be better.  Also, if you keep the billed balance as zero, you won't even be paying the minimum fc that you would have to pay if you were to keep even a small balance on the card.

[Bop]

Brammy

could you give some detail about your " war of the century"

i have 3 account  in collection. All three are Paid in full . how can  i remove them from my CR

[Anonymous]

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@Anonymous wrote:

Hey all,

My fiance' and I are going to try and buy a house in June. My credit really went down hill from my past decisions and my ex. I know that for a lot of mortgage companies the credit score needs to be up and over 650 in order to qualify. My question is how high can my score go before June 2008? Can I reach my goal if the bureus show my score at Experian 560, Equifax 557, Transunion 600?

Thanks for your help.

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I am getting in late to this thread- BUT

It can be done. In Nov 06 i was at 480 across the board-

Tu is now 643 and other 2 are in the 600's.

[Anonymous]

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Bop wrote:

Brammy

could you give some detail about your " war of the century"

i have 3 account  in collection. All three are Paid in full . how can  i remove them from my CR

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Unfortunately there is no LEGAL way to remove accurate info from your account with the exception of asking for the collectors goodwill.  The account I am referencing was something that was reaged well beyond the date it should have been reporting.  Had to go through the FTC to get that one removed.

[Anonymous]

Could you please tell me how you were able to get your score up so quickly? heres my situation. thank you

HELLO EVERYONE I WAS WONDERING IF I COULD GET SOME HELP SEEING THAT IM SO CONFUSED ABOUT THIS THING CALLED CREDIT. I HAVE READ THE CREDIT 101 AND ALSO DOWNLOADED THE FICO BKLET.

HERES WHAT IM TRYING TO DO- GET MY SCORE UP ITS IN THE 600S.

I HAVE 10 INSTALLMENT ACTS ( STUDENT LOANS) AND 3 REVOLVING ACTS.

MY INSTALLMENT ACTS TOTAL AROUND $9600.00. I CONTACTED SALLY MAE AND THEY TOLD ME THAT THEY HAVE SOLD MY ACTS TO ASA ( AMERICAN STUDENT ASSISTANCE.) SO MY QUESTION WOULD BE CAN I GET THE SALLY MAE ACTS TAKEN OFF MY REPORT OR NOT? ITS LISTED AS CHARGED OFF BUT IT WAS TRANSFERED.

I AM PAYING ASA DIRECTLY THROUGHT MY BANKING ACCT. WAY ABOVE THE AMOUNT THERE ASKING.

AS FAR AS THE REVOLVING ACTS THERE TOTAL IS AROUND $1000.00 AND IM WORKING WITH THE COLLECTION AGENCIES TO RESOLVE THESE ISSUES SEEING THAT IN THE NEXT 2 YRS I WANT TO BUY A HOUSE AND I WANT THE BEST RATES. SINCE THERE CHARGE OFFS IS IT STILL GOOD FOR ME TO PAY THEM OFF AND IF SO WHEN THERE PAID OFF HOW CAN I GET IT OFF MY REPORT?

MY REPORT SAYS THAT I HAVE 10 CLOSED ACTS AND 3 OPEN .  WHAT DOES THAT MEAN?

I HAVE 2 PAST DUE AND 2 WITH NEGITIVE ACT HISTORY.

ALSO THERE ARE MULTIPLE ENTRIES FROM ONE PLACE, SHOULD THAT BE?

I HAVE ONE CREDIT CARD AND I PAY THAT IN FULL EVERY MTH.

MY HISTORY IS WAS HORRIBLE UP UNTIL ABOUT A YR AGO. AS IVE GOTTEN OLDER I HAVE REALIZED THAT I NEED TO DO BETTER, IM 28 AND DIDNT TAKE CREDIT SERIOUSLY.

PLEASE HELP ME.

AND THANK YOU ALL SO MUCH.