Understanding FICO® Scoring

[CRHOPE]

I am currently trying to purchase a home and the lender of course ran my credit; my middile score was my Experian (FICO) was at 613 ... lender wants me at 640. In order to raise my score I have paid off 6 accounts and have not applied for credit, increased any credit or have had any items paid late nor have I closed any accounts. With that being said after 1 month the lender repulled my credit report which showed only 3 of the items paid off with $0 balances and no other additional changes and my FICO credit score went town to 589!!! I am so frustrated because I am doing everything right according to everything I have read about correcting my credit. Not to mention my score from Experian and their faulty system shows my plus score to have gone up to 679. The lender cannot see any reason for a negitive change and the other two reporting agencies both went up Exquifax FICO went up by 30 points! Bottom line is that Experian is now my middle score at 589 so I am further away now from reaching my 640 score to get my house... any ideas on the problem?

[compassion101]

utilization?

any old accounts (10+years) fall off experian in the last couple months?

[Davidngo]

I was in the same boat as you.  My middle score was 612.  The lender wanted me to off a few CA's; then he would rapid rescore.  Try the rapid rescore; if you can produce the letters that the accounts have been paid off, most lenders can do rapid rescore.

[CRhelp]

Thanks... I did provide the lender the copies of the receipts and invoices showing $0 balanced but experian has not updated them all... However only positive changes occurred and no one can see why it dropped from 613 to 589 I will ask them about the rapid rescore...