Senior Contributor
Posts: 3,070
Registered: ‎11-02-2009
Re: Improving Credit Scores

JerseyGirl24 wrote:

Hello. My score is currently 692 and just yesterday I paid off my one account that was sent to collections. Will this improve my credit score and how long will it take for my score to go up? What can I do to improve my credit score. I am 25 and live with my parents to save up to buy a house but with this score I am afraid I will not be able to get a good rate so I just wanted to know how I can increase my score? Thank you for your help.

Where are you getting that 692 score from?  A 692 midscore will be enough to get approved for a mortgage (though it's not all about score), but I am wondering where you are getting your score because there are a lot of different credit scores out there.  Lenders are going to use your FICO score. All other score models are collectively referred to around here as FAKO scores.

Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720

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