score slow creep

[Anonymous]

I am so frustrated. I have been paying on time. have good income. mailed off several GW letters. and over the course of three months my score is now a grand total of 576!!!!!!!!!!!!!!!!! agggrh .

I have bad credit from a peroid of two years ago when I was on WC and was not paid. now waiting for checks but back at work. would it help my score to give an explaination of why my credit took a dive 2 years ago ????? I am planning to refi 2 mortgages as soon as I hit 620. any words of wisdom.??

[Junejer]

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@Anonymous wrote:

I am so frustrated. I have been paying on time. have good income. mailed off several GW letters. and over the course of three months my score is now a grand total of 576!!!!!!!!!!!!!!!!! agggrh .

I have bad credit from a peroid of two years ago when I was on WC and was not paid. now waiting for checks but back at work. would it help my score to give an explaination of why my credit took a dive 2 years ago ????? I am planning to refi 2 mortgages as soon as I hit 620. any words of wisdom.??

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Tac, in order for the GWs to take effect the creditors have to agree and actually transmit to the CRAs, who then have to get off of their lazy butts and do their jobs and update the information. Your baddies are pretty recent, so the best way to offset them is by continued on time payments-- Never ever being late, ever.

What type of TLs do you have?

[RobertEG]

The categories of payment history (35% of score, or 297.5 pts) and credit length (15% of score, or 127.5 pts) are categories that one can normally do nothing about in the short term.  Only aging improves scores in these categories.  Since together, they account for 50% of your score, you can only expect a slow creep unles  you can GW away some baddies.  %util of current credit (35%) and new inquiries (10%) are the two categories in which immediate scoring changes can be controlled, with the biggest being lowering your %util.  This category has the dual benefit of being both high in the scoring algorithm, and also having no prior history that affects the score.  So, as has been said many, many tines on here, immediate increases, aside from GWing away baddies, is essentially limited to getting % util down, and not making any unnecessary new inquiries for credit.