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I know its not much but...

Regular Contributor

I know its not much but...

My EQ score went from 561 to 564 from 8/13 to 8/28 I paid off a debt, disputed and it was gone. One other dispute: deleted, for a bellsouth account that no one could find. And today I paid off another one. What's left are medical bills, which should get taken care of by the end of the month. And the student loans which start billing in October. I constantly use and pay off my $350. cc but now that I have the new one, I'll do the little purchases on it so maybe at least my score will get higher. My ultimate goal is to buy a house in 2 years. My fiance only has one secured credit card with a $500. limit, and no other credit since he didn't believe in being in debt. I don't know what his score is, I think he had said that it didn't even give him a score when he checked. So my question is, how many credit accounts does he have to create in order to get a good score? I'm talking like a 700 and higher. Thanks for the help!

Starting Score: EQ 433 12/2008
Current Score: EQ 649EX (LO Pull) 683 TU 663
Goal Score: 700 12/11


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All baddies gone! lates have hit the 2 year mark!
Message 1 of 4
3 REPLIES
New Contributor

Re: I know its not much but...

Hi isisblue,
 
A note on the medical...are they collection accounts?  Please don't make the mistake we did and offer to "pay them in full" without getting some assurance (in writing...) that they will be purged from your credit report.
 
After paying medical collections to Merchants and Professionals; NCO Financial; and West Asset Management, only M&P would send us a letter saying the items should be deleted from the credit reports.
 
I'd ask Tuscani or Noah Brodie for some recommendations on how to negotiate this sort of thing.  Sometimes in credit repair, doing the "right thing" can get you punished. Smiley Sad
 
Good luck!

FICOnater2007
Message 2 of 4
Senior Contributor

Re: I know its not much but...

Like FICOnater2007 said, don't just pay a collection, medical or otherwise, believing that the FICO Fairies will carry it off to Neverland. Paid collections hurt as much as unpaid collections. Counterintuitive I know.


My rule is NEVER pay a collection or chargeoff unless you get a PFD or you have to pay it--either to avoid a lawsuit or to get a prime mortgage. Even with a prime lender, you may not have to pay it if you're making payments and the payments are being reported.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=36174#M36174


Do you and your fiance only have the three CCs: $350 CL, $500 CL secured, and the new one? A few thoughts on how to get higher CLs and lower APRs.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120


If your goal is home ownership in 2 years, check out the Friendly CCC link in my sig. CUs, FCUs in particular, are very generous. More CCs equals more available CL. It's a way to "fatten up" you and your fiance's file. CUs can also be very generous with mortgage terms.


Finally, I'm not one to preach (being a borderline pantheist), but get married BEFORE you buy a house together and get married BEFORE you run up any debt for your guy in your name only. Another poster recently got stung hard.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=30245#M30245

Message 3 of 4
Frequent Contributor

Re: I know its not much but...

Everything Noah and Ficonater2007 said.

Good luck.



Noah_Bodie wrote:

Like FICOnater2007 said, don't just pay a collection, medical or otherwise, believing that the FICO Fairies will carry it off to Neverland. Paid collections hurt as much as unpaid collections. Counterintuitive I know.


My rule is NEVER pay a collection or chargeoff unless you get a PFD or you have to pay it--either to avoid a lawsuit or to get a prime mortgage. Even with a prime lender, you may not have to pay it if you're making payments and the payments are being reported.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=36174#M36174


Do you and your fiance only have the three CCs: $350 CL, $500 CL secured, and the new one? A few thoughts on how to get higher CLs and lower APRs.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120


If your goal is home ownership in 2 years, check out the Friendly CCC link in my sig. CUs, FCUs in particular, are very generous. More CCs equals more available CL. It's a way to "fatten up" you and your fiance's file. CUs can also be very generous with mortgage terms.


Finally, I'm not one to preach (being a borderline pantheist), but get married BEFORE you buy a house together and get married BEFORE you run up any debt for your guy in your name only. Another poster recently got stung hard.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=30245#M30245




Message 4 of 4