praise123 wrote:Lastyear, I had a score of 570 now I am at 648 so I want to thank my fico family for educating me. I had no creditcards now I have 7 that I manage very well. My utilization is at 18% but I plan to lower it more in the next month. My oldest card will be 1 year in March. How can I get to 700 score. I would likeyo get a good rate on a mortgage in 6 months because I am looking to buy a house.
B
Why was your score so low?
Start writing good will letters for anything negative you find on your report, and make sure everthing on your reports are accurate.
Pay you Credit Card balances down, Make sure only 1 card reports, and give you a UTL of only 9%
How many total accounts are on your file? Do you have auto loans, student loans, or any other revolving loans?
How many inquiries are on your file?
From your post the only thing I see that is going to drastically improve your score is time. Allow your credit cards to age (2-3 years) and make sure not to have to high of a UTL.
Here is a general break out of a score:
31% - payment history
30% Utl
15% Average age of account, and oldest account
10% inquiries (Hard Pulls only)
14% types of accounts (mortgage, credit cards, revolver loans)
Starting Score: 636