Need advice from 660 to 720+

[Anonymous]

The only thing that I would add is that once you get that wad paid off your scores will have no trouble at all moving from 660 to 720.

[Thomas_Thumb]

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@joshall wrote:

Dear fellow bloggers,

What would be the quickest way to raise FICO scores from 660 to 740? 

8 months ago, we closed on a house and took on a car loan.  We spent a tremendous amount of credit to purchase new furniture too.

My FICO scores plummeted to low 600's but it has steadily increased with the consistent minimum monthly payment (10 points per month).  We don't have negative remarks, no late payments.  Our constraint is very high utilization.

Here are our credit card utilization. We know they are quite high, so please don't judge.

RH: 85%

WE: 40%

LS: 80%

CC1: 90%

CC2: 90%

AE1: 85%

AE2: 85%

CA1: 90%

CA2: 80%

MA1: 0%

Any advice is greatly appreciated! 

Thank you so much in advance.

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Get all cards below 75% ASAP (although 90% is generally considered max out with greatest associated point loss).

Then PIF one or more hight interest, lower CL, cards to reduce the bleeding. Send the leeches somewhere else for their next meal.

https://www.youtube.com/watch?v=4QJt2BYkdiw

Stop feeding the banks. Good luck!

[Anonymous]

Probably the best (and most cost effective) advice if you want a rapid increase in your credit score is to consolidate your debt with a local credit union. We have one locally that does a seasonal uncollateralized loan for 9.5% APR - which is probably going to be lower than any cards you currently have. It will get you on a monthly payment schedule and reduce your utilization. Trying to get a 0% APR credit card is probably going to be extremely difficult considering your current utilization and credit score.