10-27-2012 09:51 AM
Hello and good day to everyone!!! I have tried to understand but i am hoping someone can simply this for me...
I am trying to get the maximum points I can within the next 2 months so that I can qualify for a home..
Here is how my cards stand now, I normally pay them all off every month with the exception of my Navy Federal to report between 5-7%, but I am not seeing much of a gain only about 12 points.
Navy fed due date 3rd statement date 6th.. bal 399/5000
Capital one due date 1st statement date 4th bal 293/350
First progress due date 1st statement date 4th 167/300
First premiere due date 10th statement date 13th bal 135/500
Finger hut due date 20th statement date 24th 48/400.. Am I doing something wrong or should i not be paying them before the due date and paying at the statement date. Normally when I pay them they report zero by the due date. Please help..
If it matters I have 2 settled accounts with Conns and CCS Bryant Statebank and 2 charged off accounts reporting that I have zero balances on because I paid them but they are not budging First Premeire and HSBC. I also have an old Ch7 bankruptcy that should be falling off 2/14 from 2004, EQ has already deleted it.
Thanks well in advance!
10-27-2012 10:20 AM
You want to pay Before the statement date. Every cc reports a bit differently but many report balance on statement date or a couple days after. I'm also a bit confused by your due dates and statement dates posted. All of your due dates listed are before the statement dates. Or are you saying you have 26-27 days to make the payment? That seems a little long to me so you might want to check those dates again.
but assuming all the dates are correct and the balances reporting to the cra's are all $0 with one at 5-7%, the only thing I can suggest is to play around a bit with the % reporting. Some ppl claim bigger jumps at just 1%. .... Or 3%. Even up to 9%. However, if you only have a couple months, you don't have much time to play around with percentages. Hopefully someone can come along and tell you what the perfect percentage is for you (though 5-7% seems to be pretty good).
lastly, are you saying you're getting 12 pts per month doing this? If so, that's excellent! I only get one point every two months letting 1% report.
10-27-2012 01:48 PM
The "if it matters" items probably matter the most, as they are keeping your scoring in a "dirty" overall scoring categorization ("bucket"), in addition to their individual impact on payment history category scoring. However, they are not "I am in control" items.......
Fine-tweaking % util is great when you are at or approaching a credit app, so great work there!
Plural charge-offs are, in my opinion, particulary worth the effort to continue deletion pursuit, as in addition to scoring impact, they are a glaring statement upon manual review that, in the past, you let debt reach the state that the creditor considered them "uncollectible," meaning they saw little or no chance of your making good on your obligation.