topic Re: Need 50 points fast in Understanding FICO® Scoring

Need 50 points fast

Anonymous — Wed, 30 Oct 2019 11:59:01 GMT

Hi i am new just wanted to know am at 650 credit score how can you get to 700 within 4 months.

Re: Need 50 points fast

Remedios — Wed, 30 Oct 2019 13:02:19 GMT

Hi and welcome to the forums @Anonymous

In order to be able to tell if that's possible, you will need to list all your credit cards, loans, and any/all negatives on your credit report.

Include balances and limits on your cards, also loan amounts and how much they are currently paid.

On negative, include if paid or unpaid

I think that's all lol

Re: Need 50 points fast

Girlzilla88 — Wed, 30 Oct 2019 13:20:48 GMT

Also why you need the jump in that short of a time if it is for a Mortgage then you may be to late to try only 4 months ahead

Re: Need 50 points fast

FlaDude — Wed, 30 Oct 2019 13:58:33 GMT

If you can provide the info @Remedios asked for, you can get informed responses, but I'll take an uninformed shot. If you have high balances, paying them down can get points quickly, how much depends on the specifics. If you have negatives like lates and charge offs, there might not be a quick fix.

Explaining why i was asking about the 50 points jump

Anonymous — Wed, 30 Oct 2019 16:41:03 GMT

Hi i was just asking about how to get 50 point within 4 months just to see if i could. but my scores is transunion 654 Equifax 649 Experian 647 credit card is under 10% student loan payment on time for a whole year. i have a self lender account on time payment for 7 months pay off in April. now this what i really need to know i have to accounts thats on my credit report paid off in 2015 and other one paid off 2016 but both have negative remarks on them and i think that whats not making my score move i think i don't know what can i do any advice is welcome

Re: Explaining why i was asking about the 50 points jump

Anonymous — Wed, 30 Oct 2019 17:42:23 GMT

What are the details of those accounts? We’re they paid in full or settled? Who owned the debts and who is on your reports for them? Were they just late payments?

Re: Explaining why i was asking about the 50 points jump

Anonymous — Wed, 30 Oct 2019 17:57:55 GMT

Yes it was paid off the account is world Finance paid in full but negative remarks

Re: Explaining why i was asking about the 50 points jump

FlaDude — Wed, 30 Oct 2019 18:03:22 GMT

Late payments and charge offs will normally stay on your report for 7 years, so will have some effect during that entire period. As they get older the effect on your scores will lessen until they drop off. Unless you can get them removed, there is no quick score fix. If they are charge offs, you might be able to negotiate pay for delete, otherwise some people have had luck with goodwill letters, basically just ask nice to see if they can be removed early. You might want to look at threads in the "Rebuilding your Credit" forum for ideas.

Re: Explaining why i was asking about the 50 points jump

Anonymous — Wed, 30 Oct 2019 18:41:40 GMT

Some ppl with scores in the 600s have benefited from EX score boost. Also maybe try AZEO. Penny hoarder, EX and nerd wallet all have articles on how to improve your credit score too.

As an aside, I managed to increase my score 80 points over the last 4 mths but that was because I had really high utilization and only 1 card and I paid that down and got a few new cards that helped my utilization further. And I don’t have any baddies other than an over 5 yr old late payment on student loans. But everyone’s profile is different. I am stuck for now in the 730-740 score range but that’s fine by me. I have to thank this forum and it’s members who have been so helpful to me as I finally started paying attention to my credit and I am obsessed with my credit now.

Re: Explaining why i was asking about the 50 points jump

Fayston — Wed, 30 Oct 2019 19:09:48 GMT

If you can succesfully dispute the negatives from your prior accounts, your score will likely move up quite a bit. If you have high utilization (not sure if this is applicable to you) and negatives, those are things you may be able to resolve quickly to have a significant positive impact. CC limit increases also reduce your utilization percentage and can help quickly - may be worth asking your cc provider(s) for a limit increase due to your good payment history with them - your chances will be better if you resolve the negatives first.

Re: Explaining why i was asking about the 50 points jump

FireMedic1 — Wed, 30 Oct 2019 22:19:25 GMT

@Anonymous wrote:
Hi i was just asking about how to get 50 point within 4 months just to see if i could. but my scores is transunion 654 Equifax 649 Experian 647 credit card (Do you only have 1 card? ) is under 10%. student loan payment on time for a whole year. (How many lates and what are the lates from? 30, 60. 90 or 120 days late)i have a self lender account on time payment for 7 months pay off in April. now this what i really need to know i have to accounts thats on my credit report paid off in 2015 and other one paid off 2016 but both have negative remarks (Where they charge offs and if so are there lates on those also?) on them and i think that whats not making my score move i think i don't know what can i do any advice is welcome

We'll try this a diffrent way. Answer the above questions and then we can see whats hampering your scores. And go from there.

Re: Explaining why i was asking about the 50 points jump

Girlzilla88 — Thu, 31 Oct 2019 16:44:38 GMT

Getting 50 points for one person may be a lot easier than 50 points for another person so it really does all boil down to what is on your report but they are right that lates report for 7 years so you would have to wait that out unless you can get it removed BUT that would be harder to do than a PFD/goodwill on an account you hadn't paid on....if you can pull it off I would be very impressed but sounds like your best bet will be to let them age and deal with the one that I believe you said comes off in April or finishes in April?! Sorry trying to remember everything that was stated.

Re: Explaining why i was asking about the 50 points jump

Anonymous — Fri, 01 Nov 2019 13:28:28 GMT

@Anonymous wrote:
Some ppl with scores in the 600s have benefited from EX score boost. Also maybe try AZEO. Penny hoarder, EX and nerd wallet all have articles on how to improve your credit score too.

AZEO doesn't impact dirty scorecards according to this post:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/AZEO-vs-100-w-balances/m-p/5282260

Re: Explaining why i was asking about the 50 points jump

calyx — Sat, 02 Nov 2019 18:19:29 GMT

@Fayston wrote:
If you can succesfully dispute the negatives from your prior accounts, your score will likely move up quite a bit. If you have high utilization (not sure if this is applicable to you) and negatives, those are things you may be able to resolve quickly to have a significant positive impact. CC limit increases also reduce your utilization percentage and can help quickly - may be worth asking your cc provider(s) for a limit increase due to your good payment history with them - your chances will be better if you resolve the negatives first.

^ Be careful with disputes - successful disputes need a good reason for disputing (usually inaccurate reporting). If you just dispute your negatives without a valid reason, you could actually do a lot more harm than good to your scores; in addition, if you frivolously dispute too much, you could make it more difficult to dispute valid issues.

You would do better to deal with the account holders that are reporting the information to the CRAs.