Established Member
deemac76
Posts: 15
Registered: ‎10-16-2010
Will I Get Those Points Back

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.


Starting Score: EQ 425 (Discharged Ch. 7 BK 11/16/2010)
Current Score: EQ 600/TU 677/EX 663 (All Lender Pull 11/10/2012)
Goal Score: 700 Cross The Board


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Frequent Contributor
atarvuzdar
Posts: 375
Registered: ‎01-20-2012
Re: Will I Get Those Points Back

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!

Current: EQ 673 September2013 / TU 696 September2013 (Walmart)
Start: EQ 584 Feb2012 / TU 629 July2012

Wallet: BofA Cash Rewards Visa Sig $5000 / Lowe's $6000 / JCP $3900 / eBay MC $3200 / Barclaycard Rewards $2000 / Walmart $3300 / CapOne NHRC $2000 / CapOne Platinum #1 $2000 / Amazon $1700 / Discover It $1000 / CapOne Platinum #2 (former Orchard) $750 / Amex Zync $500 Autopay
Moderator
Shogun
Posts: 11,099
Registered: ‎04-15-2011
Re: Will I Get Those Points Back

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


Starting Score: 504

Current Score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Going for Wade64's RUDY Spade!
Established Member
deemac76
Posts: 15
Registered: ‎10-16-2010
Re: Will I Get Those Points Back

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


Starting Score: EQ 425 (Discharged Ch. 7 BK 11/16/2010)
Current Score: EQ 600/TU 677/EX 663 (All Lender Pull 11/10/2012)
Goal Score: 700 Cross The Board


Take the FICO Fitness Challenge