Understanding FICO® Scoring

[deemac76]

Hello everyone I have been really trying hard after my ch. 7 discharge (11/10) to get my credit up to par to buy my first home. My scores before the major hit was EQ. 600, TU. 632 ficos, and EX. 644 lender pulled. After my 2 credit card balances went near maxed out, I took a 21 point drop on EQ., 49 point drop on TU., and a 38 point drop on EX. I guess the only reason the EQ report didn't take that big of a hit probably due to me having amother revolving acct on there that's not on the other 2. So my question is if I pay off/down those 2 cards ($800.00) will I get those points back? Reason being my 2 yr discharge will be up next month and after speaking with the bank last month, getting beyond the 2 yr mark was all I needed to proceed with buying a home. Thanks for any suggestions/comments in advance.

[atarvuzdar]

If increased balances on your CC's is the only cause for the 21 point drop in your scores then you will get those points back when you pay off the CC's--barring any other possible negatives that can/may happen in the meantime.

Good luck with the home purchase!

[Shogun]

Pay your util down and your score will go back up.

[deemac76]

I figured that will be the case on that but I didn't know that I would get the points back a month after they dropped if I paid the util. down. That would be great for me to move forward with my home purchase. Thanks again for the replies