New Member
kivtao
Posts: 4
Registered: ‎04-16-2013
New low fico- 515

New to this forum.  I was looking for a place that could put me on a plan to increase credit score by leaps and bounds.  We had horrible financial problems in the last few years.  No foreclosures or anything catastrophic though.  we have just sold our house and we are renting and with our tax return just paid down a good portion of our debt.  Is there a app/guide/company that can be a mentor or a guide as to how to raise the score as quickly as possible?  Also, our income has increased by about 25 percent.  Does that help?  Any and all advice appreciated, I am trying hard not to be in denial anymore!!!!

Mary

Joined 04/2013
Working toward a 640 credit score
Regular Contributor
qd
Posts: 158
Registered: ‎04-02-2013
Re: New low fico- 515

kivtao wrote:

New to this forum.  I was looking for a place that could put me on a plan to increase credit score by leaps and bounds.  We had horrible financial problems in the last few years.  No foreclosures or anything catastrophic though.  we have just sold our house and we are renting and with our tax return just paid down a good portion of our debt.  Is there a app/guide/company that can be a mentor or a guide as to how to raise the score as quickly as possible?  Also, our income has increased by about 25 percent.  Does that help?  Any and all advice appreciated, I am trying hard not to be in denial anymore!!!!


I would start by getting a copy of your three credit reports.  Have you gotten your free credit reports yet?  This will show you what is keeping your scores down and help people here help you decide what to do next.  Search through these forums for rebuilding credit and you will find tons of great information.  Start reading and start learning.  You're here so you've taken a great first step IMO.

Valued Contributor
thom02099
Posts: 1,348
Registered: ‎08-30-2011
Re: New low fico- 515

kivtao wrote:

New to this forum.  I was looking for a place that could put me on a plan to increase credit score by leaps and bounds.  We had horrible financial problems in the last few years.  No foreclosures or anything catastrophic though.  we have just sold our house and we are renting and with our tax return just paid down a good portion of our debt.  Is there a app/guide/company that can be a mentor or a guide as to how to raise the score as quickly as possible?  Also, our income has increased by about 25 percent.  Does that help?  Any and all advice appreciated, I am trying hard not to be in denial anymore!!!!


First, WELCOME to the forum!  :smileyhappy:

There's a wealth of information here.  What I would suggest is, that you read all the information in all the stickies at the various forums here.  Start with right here in Understanding FICO Scoring. check out the General forum, and also worthwhile is the Rebuilding forum.  After you've gotten through those, you might want to also check out the Credit Card forum, but I would suggest that you read only the stickies there, and not so much  the messages there just yet.  There's a lot of folks there that are applying for a lot of credit cards, and I honestly don't think that would be in your best interest at this point in time.  At some point, that will be a good place for you, but not just yet.   

 

I know you want to increase your score in "leaps and bounds", but time is your biggest ally.  Read everything, make a plan based on what you read, and stick to it!  You'll be surprised at how much of an improvement you'll see by doing this.  Don't hesitate to ask questions here, there's always someone around that's willing to answer a question.  AND...don't worry about the score right now.  There's been worse.  You're headed in the right direction simply by coming here and posting that you need help.  And there's lots of folks here to lend a hand !

 

ONWARD AND UPWARD ! ! !

 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 799 EQ = 812 TU = 811 - 11/2014
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
Re: New low fico- 515

   When I got to the forums my score was 520 and that was less than 6 months ago... now my lowest score is 621. I educated myself on this forum and took steps to change my situation and it has been working. It can work for you too... Good luck and welcome.

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Established Contributor
InvincibleSummer3
Posts: 640
Registered: ‎11-20-2012
Re: New low fico- 515

Starting score of 480, right here. And that was a FICO score. There was really nowhere to go but up....

 

The key for me was learning what affects scores. This is an awesome thread, highly recommended as a jumping-off point:

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Your-Guide-to-Credit-Scoring/m-p/718550#M1168...

 

If you'd like direction on what to do with negatives on your report, just head over to the Rebuilding forum and browse a bit. Or, even better, post and see what feedback you get. The people here are really lovely. I'm roughly 10 months into my rebuilding and I'm mid-600's. Change is possible! Good luck.