Understanding FICO® Scoring

[sunflower17]

Any tips on how I can increase my middle score?  Does paying your cc balance off every month help to raise credit scores?

I just learned that my cc statement comes out on the 23rd of the month so I pay my balance in full before the statement prints and this way my payment is reported to the bureaus as balance paid on my credit report. 

thanks

Message Edited by llecs on 10-02-2009 04:33 PM

[llecs]

sunflower17, I split your post to form a new thread found here to keep the other on-topic. I changed the title of this thread. If you'd like to change it to something else, feel free to click "Options" and then "Edit Message".

Simply paying your CCs over time generally doesn't help your score, per se, especially if there is a negative history reporting elsewhere on your report. Generally, you would see small increases as your AAoA improves or your accounts hit an anniversary.

The fastest way to improve your score is to pay CCs down to a healthy balance. Ideally, you'd want all but 1 CC to report $0 with the remaining CC reporting less than 9%.

If you did all you can do with your CCs, then maybe you are at a point where the only way to bump your score is to tackle the baddies.

[creditwherecreditisdue]

Post some more information regarding your CBR's and we will try to help you.

[AndySoCal]

The look at the credit report for the bureau that is reporting what turns out to be your the mid-score.  What are the 4 factors that are affecting your score? This should help guide you to a possible way to improve your mid score.

[creditwherecreditisdue]

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AndySoCal wrote:
The look at the credit report for the bureau that is reporting what turns out to be your the mid-score.  What are the 4 factors that are affecting your score? This should help guide you to a possible way to improve your mid score.

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Andy -

Bear in mind that there are not always four negative factors reported. FICO scoring will spin off 0 to 4 reasons depending on your score level. I get 3 with my EQ score and I only get one with my TU score. The higher your score the fewer reasons.

[AndySoCal]

I know that.  Considering the content of the orginal post I doubt if that is going to be  factor in this case.