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Will and when scores raise

Senior Contributor

Re: Will and when scores raise

I agree with HeavenOhio.  You are very likely comparing apples to oranges with the scores you are currently looking at.  Grab your scores from CCT for a buck and they'll all be provided using the same scoring modem (FICO 08) so you'll be comparing apples to apples.  You can also look at the 3B reports at that time from CCT to see what is still on each report and what isn't.

Message 21 of 27
Community Leader
Senior Contributor

Re: Will and when scores raise

While you grab your CCT scores, CCT will also give you a 3B report.  Go through the report carefully to see how all your credit card balances are currently reading.  Some may be $0 already.  And for any particular card, it might be $0 at one bureau and not yet $0 at the other.

 

I agree with the BS line you were given.  That is a "script" that CSRs have.

 

For example, have you ever noticed that when you are talking to a CSR and they need to mail you something, they will say "We put that in the mail today, and you should receive it in 7 to 10 business days."  That's ludicrous.  The idea that USPS always takes a minimum of 7 business days to deliver a piece of 1st class mail is manifestly untrue.  "Two to four business days" would be far more accurate.  But "7 to 10" has become part of the standard script for all help desk reps across the country

Message 22 of 27
New Visitor

Re: Will and when scores raise

I signed up for creditchecktotal and got the following scores:

TU: 728

EXP: 722

EQ: 717.

 

Thanks for all the help.  My credit utilization rate is 0%.  Available credits are 14K. Scores increased almost by 10%.

Message 23 of 27
Valued Contributor

Re: Will and when scores raise

Good work!

 

If you want to get another bump, let one of your major cards report a small balance (between $5 and 8.9%). The balance should come from a new charge. After the statement cuts, pay in full. Repeat this every month. As mentioned earlier, FICO dings you if all cards report zero.

 

If you want the bump right away, show the balance on the card that reports first. Otherwise, do it with the card that's most convenient for you.

Message 24 of 27
Community Leader
Senior Contributor

Re: Will and when scores raise

You may want to call each of your CC issuers and ask them if they do a mid-cycle report.  Here's a recent thread about that:

 

http://ficoforums.myfico.com/t5/General-Credit-Topics/Any-way-to-get-the-credit-card-companies-to-re...

 

You would benefit from having exactly one card report a small balance.  It might give you a solid 20 more points.  If you can just find one issuer willing to do that, then you can charge somethig small and get that balance reporting before the lease.

Message 25 of 27
Senior Contributor

Re: Will and when scores raise


squiresj1 wrote:

I signed up for creditchecktotal and got the following scores:

TU: 728

EXP: 722

EQ: 717.

 

Thanks for all the help.  My credit utilization rate is 0%.  Available credits are 14K. Scores increased almost by 10%.


Good job signing up and getting your scores/reports.

 

Be careful looking at the CCT software that tells you what your overall utilization is.  If you have positive (non-zero in dollars) utilization, CCT will still round it down to 0% if it's too low but is not how the FICO models score.  Below where it tells you "0%" it should say your total balances to the left and total limits to the right.  If the total balances are $5+ then your utilization is really 1%, it's just that the CCT fluff software is rounding down.  If in fact you do have $0 (not percent) in balances, you'll want to do what was suggested by others and that is let one card report a small balance.  Hopefully this makes sense.

Message 26 of 27
Established Contributor

Re: Will and when scores raise


squiresj1 wrote:

I signed up for creditchecktotal and got the following scores:

TU: 728

EXP: 722

EQ: 717.

 

Thanks for all the help.  My credit utilization rate is 0%.  Available credits are 14K. Scores increased almost by 10%.


Just remember that for your auto lease they won't use your FICO 8 scores.  Before I got my lease I got my full FICO 3B report.  It shows the FICO Auto score along with the other important scores.  What make of car were you looking at?

Message 27 of 27