Need 20 points to fico in 4-6 months

[Anonymous]

How easy or hard is it to gain  20+ points to my FICO in 4-6 months? I am planning on paying down my CCs they have a high utility I am never late and plan to never be late. I did open a new store card and another cc in the last 6 months. I also had a collection that I paid off, a parking ticket my husband forgot to pay grrrr.... So let's say 4 months of aggressive paydown no lates collection aging and new credit lines aging, could I gain 20+?

Thanks so much.

[ji9]

I'm new to all of this but from what I've seen in my own scores and read on here I think you could easy gain 20 points.  Not sure how old any of your negatives are, that could play a part but paying down high utility I think would make a big difference.  Good luck! 

[Anonymous]

Thank you the collection was reported 9/12 so really recently, do they go by report date or date opened?

[llecs]

20 can be very easy.

Utilization is a very large component to FICO scoring. Get all of your CCs, except for one, to report $0, and get the remaining to report a balance of under 9% of the CL. You'll start to see some significant movement when they report 30% to 20% and less. I went from 89% to less than 3% and saw over 100 pts on EQ and over 70 on TU.

The new CCs could be hurting, but in the next 4-6 months, more of that drain would be gone anyway, so you might see some intermitent gains as they age. You also might see additional gains when they turn a year old.

Now that you paid the collection, send a GW asking for favor in deleting. A $0 balance CA is equally as harmful as one that's unpaid, score-wise.

[Booner72]

You can easily get 20 by paying down utilization.  See my sigs for how high I've gotten in a six month period of time. All resulted by paying down revolving.  Good Luck!!

[Anonymous]

will the recent collections affect my chances of being approved for FHA?

[llecs]

Score aside, none because it is paid. Again, send a GW.

[Booner72]

How recent?  If less than 12 months then absolutely yes it could affect your chances.  If you can afford to pay it, send a  PFD letter ASAP.

[Anonymous]

If I understood correctly, I think OP stated it was already paid.

If that's the case, look at GW'ing the account.

[Anonymous]

It is paid I didn't know about pay for deletion till like a few days after I paid it. It is for an unpaid parking ticket so I am guessing will be much harder to get a deletion I am not a consumer to them, guessing they get these requests constantly. Has anyone had luck or expeience with GW letters and removals for such collections? Also is there a format for these specific CAs?