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Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
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I just got a 39 point bump in my Credit Score I want another 50 Help me in right Direction

[ Edited ]

I worked for 6-8 months to get a coding error taken off my credit report that went to collections. It was only 53.00 and the hospital had coded it wrong so EMS picked it up wrong. Finally it came off this week and my score did nothing, Then like 4 days later it bumped 34 points. Now since then I have paid off all credit cards to zero and left one card with a balance of less than 9%. Is there anything else I can to to get the score into the mid to high 700 range. I am talking FICO only as all the FAKO scores are already in the 715-766 range. My FICO after the collections is now 695 and before the credit cards report in one week. I hope this credit card payoff will give me a good bump but its only 3500 total in credit card debt paid. I have one installment loan I was using to rebuild and I have read a consumer finance company will hurt you but I read another post says don't pay it off the history will help you and beside the CF company is only like 1% of your score where the collection and perfect payment and utilization is your major part and I have that all but perfect. Never made a late payment standing at 128 straight payments now made on time with my credit cards. Any more ideas ? I want 760 as I am about to purchase property and I want the credit end to look great and only have the income end to deal with as far as how much I can borrow. Thanks 

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
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guiness56
Posts: 22,408
Registered: ‎01-17-2008
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Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

I had been paying them down so right there at the end some were below 30% and one was at 38% and one other at 32%

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Do you know what your overall was?

 

You will get points for paying those down.  Can't tell you if it will be 50 or not,.

Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
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Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

I paid 1300 off a 4800 credit limit card

980 off a 2700 paypal limit that has been giving me good bumps as I pay it down

Paid jc penny to zero that has only 16.00 on it out of 900 CL

paid 400 of 2000 cl left 150 balance on Cap One.

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

So all are now Zero balance except for Cap one with a 150 bal of 2000 cl

Forgot the Credit One paid it off, it was 230.00 out of 550 CL

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

I would just enjoy if it hits the next bracket of 720. I am about to buy a piece of property and I need it as close to 760 as I can get a 720 will be pretty good. Speaking FICO only of course. Those FAKO scores are misleading. Mine have been in the 700 range for months and my FICO would hardly move. Finally it jumped last week from 650 to 695 from the Collection coming off. 

 

Will the installment loan from a finance company hurt me and should I just pay that off too ? I have the money to pay it off about 2700 but it shows a CL of 5800 so not sure what to do. I had thought about getting the loan from the bank and get it on my savings so interest is less than 3% and no hard pull required but it will start a new line of credit even though I have dealt with this bank for years in borrowing like this, It also shows secured loan but it does report to all 3 like clock work every month the bank does also the finance co does  as well and I have over a year payment history with the finance company.

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

[ Edited ]
Regular Contributor
paramed3
Posts: 107
Registered: ‎07-01-2013
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

Ok thanks and teach me how you figure it please ?

 

Thanks

 

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 10-07-2013 - (Experian 780 - (Equifax 760 ) - ( Transunion 772 )
FICO Goals: 780 For all 3 or above
Ultimate Fico 800 - 850 :
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: I just got a 34 point bump in my Credit Score I want another 50 Help me in right Direction

I'll teach you then you can figure it out LOL.  I will double check for you.,

 

To find what your utilization, overall, was before payments, add up all your balances and divide by total CL.  Multiply by 100 and round up.

 

Do the same thing for your after payment balances and you will have your utilization overall for what will report after the payments.


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