Raising our credit score

[poofperez]

We are trying to raise our Experian score 6 points. We have an installment loan that is only being reported to TU that has been open for 8 months. If I ask the credit union to report this account to Experian will my score go up or down?

[llecs]

Welcome!

Where did you get your EX score from? Your lender?

Do you have accounts older than 8 months old on EX? Do you have any other loans reporting showing a balance.

[vanillabean]

poofperez wrote:

"We are trying to raise our Experian score 6 points."

If a family member has an Amex card (or another card that reports to EX (Experian)), that might do it.

I don't usually encourage piggybacking, but make an exception with family (in moderation). My DW (dear wife) is AU (an authorized user) on one of her mother's cards (EX only), for occasional purchases.

Interesting too that you would know that a given number of points is needed. If a potential lender informed you in advance, I take it it's a FICO score (350-850). Otherwise it may be a so-called VantageScore (501-990).

[sloxly]

I'm no expert at this, but I did get some help with making my credit score higher by doing some of the things in this graphic:

http://www.yourwealthpuzzle.com/improve-credit-score-report/

Maybe that helps?

[Anonymous]

Good link!

[poofperez]

Thank you for the replies. I got our score from a lender. The Experian score I pulled was a lot higher than the one they pulled. I am assuming it was a Vantage Score. We do have a few accounts that have been open longer than 8 months, but they all have low balances except our student loans.

[poofperez]

I have read a litle about piggybacking. Some posts states that the new fico system doesn't allow for piggybacking. Do you know anything about the new scoring system and rules regarding piggybacking?

[poofperez]

Thank you for the website!