Re: I NEED 1 POINT INCREASE... PLEASE HELP

knine · ‎01-18-2013

I am fringe to qualify for my VA home loan. I had a mid score of 626 in Dec. Then I had to buy a car and I had a collections removed. When they pulled my credit last week I was a 619. I do not have any revolving credit. I have 5 old accounts that are paid off and 2 recent paid collections. Student loanshave been consolidated. but not showing up yet. I recently was added as AU for an credit account. I there anything else I could do to get the one point needed?

starry1 · ‎11-29-2012

You need revolving credit. When are you trying to buy a house?

. Are those fico scores or fakos?

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 04/20/13 TU 626; EQ 647; EX 631 fako

Goal Score: ~~625 for now~~– New goal 675

Cap1 sec $200 / FP $300 / Fingerhut $300/ NFCU nRewards $500 (last app 3/11/13)

jadeite788 · ‎09-25-2009

You need revolving credit and I agree. Try a credit union, to me this is the quickest way. When you fill out the application they generally have a line that asks why you are apply? State that it is to rebuild my credit. You should not have any problems with that. My credit boost happened instantly the same month I applied. Others might tell you to apply for a secured credit card. Either way good luck.

Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 660, 661 as of 04/01/13
Current Transunion Score: previous 656, 675 as of 02/01/13
Goal Score: 750
Take the FICO Fitness Challenge

knine · ‎01-18-2013

As doom as possible... I will try with a credit union! Thank you!!

TrishN · ‎11-05-2012

no no dont rush ! you have to ask lender first. is it ok for you to open a new credit card. If they said no. you have to look for more AU, that account over 4-5 years are good.

.

.

.

.

.

.

zerobacan · ‎01-13-2013

if you are geting a va loan, i guess you are military, try the Navy Federal Credit union, its an excellent bank.

BBVA Compass $5k! SFCU $2k, SFCU LOC $2k, Paypal Smart Connect $2k, Discover iT 1.7k, Kay's $1.7k., Amazon $1.5k, Macy's $1.2k, , Walmart $1.5k, Capital $750, Victoria Secret $590, BestBuy RZ $700 SD, Capital $500, JC Penny $500 SD Credit1 $450 SD Target $200, 76/Citi $200 SD,

Starting:TU:536 EXP:561 : EQ:552 Current:TU:716 Walmart (5-19-13)EXP:679 FICO (5-4-13):EQ:667 (FICO 5-11-13) Goal: 720 By 12-13. Officially in the Garden since May 14.
href="http://goo.gl/0O9JU">Take the myFICO Fitness Challenge

guiness56 · ‎01-17-2008

It is usally not good to apply for credit within 6 months of applying for a mortgage.

Credit Scoring 101
Guide to Common Abbreviations
Other Frequently Requested Threads
Closing Credit Cards

Shogun · ‎04-15-2011

+1 Pretty much the cardinal rule is no new credit within 6 months.

Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

browsing1 · ‎09-27-2011

Do you know what the utilization is on the AU card? May be able to pay it down a bit and get a boost. Your lender may be able to "rapid rescore" to see if this will give you the point you need.