How to increased my score???

[Anonymous]

My scores are as follow 708, 717, 718

I have a credit history of 10-12 years with an average account age of 5 years (I am 27)

I have between 14 and 20 accounts (depending on report) 3 of which have balances (2 student loans and one CC). My student loans are about $17K and $5.5K (different types of loans that can't be combined into the same account, both are locked at 1.625% so I won't be moving them around or paying them off early due to the low rate).

My CC has a balance of between $300-$1000 ($507 currently) each month as I put all living expenses on it outside of rent and then PIF. My total CC limits add up to $17,000 (3 accounts $10K, $5K, $2) I use the card with a $10K limit for my expenses periodically use the $5K for traveling due to hotel points and never use the $2K one but it is my oldest card and don't want to shrink my history.

Now for the bad part:

I have some late payments some 30, 60 and 90 as I "embraced the cliche" and made some horrible CC mistakes in college (about $7K of debt with no income) which I worked through for about 18 months after I graduated. The majority of these are 4+ years old 2 (30 days) are 3+ years. I understand only time will remove these but is there any other way I can bring my scores up?  Also how long do these have an impact? I know they can stay on for 7 years but do the have less influence after a specifc time frame less than that?

I am thinkng about buying my first house within the next 12-18 months and want to get the best rate at this time. I was thinking increasing my CC limits to make the monthly expenses a lower percentage of my revolving debt. Would this have a positive impact??

Thanks in advance for your help!! 

[Anonymous]

The 30 day lates are not hurting much/if any  more-

The 60's turn into "Minor derogs" after 2 years and 90+ stick around for awhile-

Exactly how long ago were the lates ?

Are all of your accounts ok/current?

You can always try a GW letter to these creditors

score is not the only thing they look at in a mortgage (down payment, reserves, last 24 months payments, employment (at job and in same industry) )

12 months to get to 760 is very doable-  

[Anonymous]

the 90 Day late was 11/03. then 60 a on Day 12/03 unfortunately I also had a 30 day on 11-04 also, these are all the most recent.

Everything is else is ok/curent except there is one account that even though it is paid off (and closed) is shwoing as late. I am already sending in a request to have that corrected. (it is only on one report the 708 so I'm guessing that would be the difference in those scores).

As far as the other stuff I have had no late payments since 11-04 so past 36 months are spotless. I expect to have around 15-20% down and be looking in the $80-120K range for a house I would be looking in some historic areas so the range will vary depending on if it has recently been fixed up or if I would be doing the work.

I would have between $5-15K in reserves after down payment depending on house (if 15K I would use for repairs on house a portion of this over time while attempting to keep an emergency fund of 5K) and have been employed by the same employer since getting out of college (will be 5 years end of 08). I make about 50% above the average family income in the area I live in and $80-120K is low to mid price for housing. 

[Anonymous]

Send GW letters for those lates-

Get CLI's - makes keeping the UTL down even easier -

and do what you have been doing-

[ma_fico]

"The 30 day lates are not hurting much/if any  more-The 60's turn into "Minor derogs" after 2 years and 90+ stick around for awhile"

I managed to get a single 30-day late from spring 2004 off my report last month (my only EQ baddie* ) and immediately went from 708-730 Fico, so it was definitely hurting me.

*I have high utilization, and new accts, otherwise a old and pretty thick file.  ymmv.