I'm stuck

[Anonymous]

First let me thank everyone here for giving great advise, it is because of you all that I have finally made it to the 700's from the 500's. My fico scores are as follows: tu=702 and eq=700, and have been for some time. I have an orchard bank mc ($0 bal/$1600 limit) and visa ($10.26 bal/$1550 limit), a macy's($0/$1500 limit), a cap1 ($0/$1050 limit), a car loan $8,000, a mortgage, and a loan I took from the bank to pay for school and books $1,400. I have one baddie from 2002, all the rest have come off. I alternate using the cards and have always paid everything on time for the past 5yrs, however my scores seem to be stuck. Can anyone tell me what I should do to get my scores past this mark? I would like to graduate from these starter cards with af, and get a card with a decent cl. Any advise is welcome. Thanks

[Itsmeagain]

You should see a good increase when the last baddie falls off your report . . . 7.5 yrs. from DOFD.

[lkcrew426]

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@Anonymous wrote:

First let me thank everyone here for giving great advise, it is because of you all that I have finally made it to the 700's from the 500's. My fico scores are as follows: tu=702 and eq=700, and have been for some time. I have an orchard bank mc ($0 bal/$1600 limit) and visa ($10.26 bal/$1550 limit), a macy's($0/$1500 limit), a cap1 ($0/$1050 limit), a car loan $8,000, a mortgage, and a loan I took from the bank to pay for school and books $1,400. I have one baddie from 2002, all the rest have come off. I alternate using the cards and have always paid everything on time for the past 5yrs, however my scores seem to be stuck. Can anyone tell me what I should do to get my scores past this mark? I would like to graduate from these starter cards with af, and get a card with a decent cl. Any advise is welcome. Thanks

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When was the last time you pulled your report from here? What suggestions does it give you? Those are usually pretty helpful advice.

What are your balances on your loans in comparison to the actual loan amount? How many inquiries do you have?

[MrChairman]

I would probably apply for a CC from either Chase, BofA, Discover. You def have the score to get approved. Time to move up.

[Anonymous]

I pulled my scores on mar13th. My car loan was originally 16,000, I just got my mortgage last aug. the scores were the same then too, and the loan for school was originally 1,700. Fico suggests that I continue to pay on time, and as the accounts get older, it will improve. I was just wondering if there was something I could do to make it go a little faster, and if I could qualify for a better card. Oh and I have 3 inquires from last year when I was shopping for a home loan

[laz98]

why is something from 2002 still on your credit report???

[lkcrew426]

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@Anonymous wrote:

I pulled my scores on mar13th. My car loan was originally 16,000, I just got my mortgage last aug. the scores were the same then too, and the loan for school was originally 1,700. Fico suggests that I continue to pay on time, and as the accounts get older, it will improve. I was just wondering if there was something I could do to make it go a little faster, and if I could qualify for a better card. Oh and I have 3 inquires from last year when I was shopping for a home loan

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I definetely think you're ready for a new card. I've read good things about USAA (you can join as a non military member) or try Nationwide Visa. Also, there's a thread floating around here with links to some pre-qualifications that won't ding you. Keep up the good work!

[Anonymous]

Oh that's when it was opened, last reported in 2004

[Anonymous]

Thanks, I'll try to find it!!!

[MarineVietVet]

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@Anonymous wrote:

First let me thank everyone here for giving great advise, it is because of you all that I have finally made it to the 700's from the 500's. My fico scores are as follows: tu=702 and eq=700, and have been for some time. I have an orchard bank mc ($0 bal/$1600 limit) and visa ($10.26 bal/$1550 limit), a macy's($0/$1500 limit), a cap1 ($0/$1050 limit), a car loan $8,000, a mortgage, and a loan I took from the bank to pay for school and books $1,400. I have one baddie from 2002, all the rest have come off. I alternate using the cards and have always paid everything on time for the past 5yrs, however my scores seem to be stuck. Can anyone tell me what I should do to get my scores past this mark? I would like to graduate from these starter cards with af, and get a card with a decent cl. Any advise is welcome. Thanks

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I'm curious about the negative item. Is this a late payment? A collection? Charge off?

Here is how and when derogs drop from you CR, and are thus no longer included in FICO scoring.

Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

If the OC subsequently reports their account as a charge off, that is a totally different and additional post to your CR. Their post as a charge-off will remain in your CR for 7.5 years from the DOFD on the OC account, which is the first 30-day delinquency you had on the account, and disregards any later 60/90+ delinquencies that followed. That cannot be reset.

If the OC then refers the account for collection, and a CA posts to your CR, the drop-off date of their collection reporting is the same as that of a CO. It is 7.5 years from the same DOFD on the OC account, and the CA cannot reset this date.

It seems like this should be gone or almost gone. If it's a CO or collection and the DOFD is as late as 12/2002 it should be gone about 6/2010.