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how to get a few more points?

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Chelli02
Established Member

how to get a few more points?

So my husband and I will be apping for a mortgage really soon and I would like to have a few more points. I am not sure what to do? I just recently paid one credit down to zero ...it only had like two dollars the last time it reported ....I actually thought it was going to post zero but I must have paid then wrong amount. Will I get any points from this? I am now sitting at 33% utilization overall...I only have some card showing a balance over 50%....it is however a closed card. I didn't think the closed cards factor in to utilization but I guess they do? So would I gain many points from paying that specific card to under 50% uti. I am just not sure how to bring my score up at all. I know I meat the 660 requirement mid score but I am afraid that my inquiry for the mortgage will drop me below. We ate trying for a USDA MTG and hopefully building so will probably have our credit checked a few times. I had opened a new card in November ...I know that wasn't so smart but I guess I was hoping it would help my utilization.. I ended up dropping almost 30pts .. will I get any of that back after three months? I really didn't think we would trying to get a mortgage yet but interest rates are rising and we want to take advantage of the low rates.
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Chelli02
Established Member

Re: how to get a few more points?

Sorry for the typos hope you guys can understand my typing. I am using my phone
Message 2 of 3
user5387
Valued Contributor

Re: how to get a few more points?

If you have 33% utilization overall and 50% on one card, then I'd definitely tackle that area.

 

The idea would be to have all cards but one reporting $0, and the one a small balance like 5% of its limit.

 

Beyond that, if you have any derogatories, I'd try to tackle them.

 

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