topic Re: WHERE DO I START? in Understanding FICO® Scoring

WHERE DO I START?

Anonymous — Sat, 12 Dec 2020 22:41:40 GMT

Hello there fellow credit people!

So im trying to rebuildmy credit. I have worked for 2 years to fix my terrible credit score. Im so dam confused with all the "diffrent Scores". I have worked hard and now have healthy cc with decent limits. I make sure to pay them off each month if i can. Im just overwhelemed looking thru the posts and really have no idea where i should start. My ultimute goal is to get to a healthy 740 within the next year or so. Right now im at 697 696 690 across the board. I dont plan on opening any further CC.Im not sure what else to do get over 700 Thank you for any imput that anyone can advise.

Re: WHERE DO I START?

SouthJamaica — Sat, 12 Dec 2020 23:38:26 GMT

@Anonymous wrote:
Hello there fellow credit people!

So im trying to rebuildmy credit. I have worked for 2 years to fix my terrible credit score. Im so dam confused with all the "diffrent Scores". I have worked hard and now have healthy cc with decent limits. I make sure to pay them off each month if i can. Im just overwhelemed looking thru the posts and really have no idea where i should start. My ultimute goal is to get to a healthy 740 within the next year or so. Right now im at 697 696 690 across the board. I dont plan on opening any further CC.Im not sure what else to do get over 700 Thank you for any imput that anyone can advise.

1. You've already found the starting point. The fact you don't plan on applying for any further credit cards is the start. The passage of time + no new applications = the best elixir of all for one's FICO scores.

2. You can further help your scores by letting most of your revolvers report zero balances, with a few reporting small balances before you pay them off.

3. If you have negatives you can send verification letters to the bureaus, which can result in some of them being dropped earlier than they would otherwise have been.

Re: WHERE DO I START?

Anonymous — Sat, 12 Dec 2020 23:38:59 GMT

You'd have to list out all of your credit report data to give us an idea of what you're working with. This would include listing out any/all negative items with their severity/date, all of your accounts with balances and limits, your age of accounts factors, whether or not you have any installment loans, inquiries, etc. The more data you provide, the better and the members here can offer you some advice.

Where did you get the 3 scores from that you provided?

Re: WHERE DO I START?

Anonymous — Sat, 12 Dec 2020 23:43:21 GMT

I will look thru the threads to see about this letter. All my accounts are showing 0 balances except for 1.

Thank you for the insite!

Re: WHERE DO I START?

Anonymous — Sat, 12 Dec 2020 23:44:45 GMT

The scores are from here . I could to be bothered with Credit Karma or Seseme or others. to damm confusing.

I will get my lsit together and post.

THANK YOU!

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 03:28:51 GMT

@Anonymous I would recommend you read the Scoring Primer linked at the top of my signature.

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 01:01:04 GMT

SYNCB/PC RICHARD. $4,500 O bal. Jul 18, 2018 (2 yrs, 4 mos)

NORDSTROMTDBANKUSA $2,500. 0 Bal. Oct 22, 2020 (1 mos)

DISCOVER FINANCIAL SERVI $5,900 0 Bal Oct 30, 2011 (9 yrs, 1 mos) CITICARDS CBNA $1,000. 0 Bal Dec 25, 2019 (11 mos)

BANK OF AMERICA $2,500 0 Bal Jul 07, 2018 (2 yrs, 5 mos)

SYNCB/AMAZON PLCC $3,700 97 bal Jul 29, 2020 (4 mos)

CREDIT ONE BANK $450 0 Bal Dec 30, 2016 (3 yrs, 11 mos)

Southwest JMPC $4,900 0 bal Apr 20, 2018 (2 yrs, 7 mos)

COMENITY BANK/EXPRESS $500 0 Bal Sep 30, 2011 (9 yrs, 2 mos)

SYNCB/TJX CO PLCC $160. 0 Bal Apr 20, 2018 (2 yrs, 7 mos)

AMEX DEPARTMENT STORES N $300 0 Bal Apr 23, 2018 (2 yrs, 7 mos)

COMENITY BANK/JCREWINC $350 0 bal Aug 25, 2011 (9 yrs, 3 mos). 1 30 day late 2019

CAPITAL ONE BANK USA NA $3500 0 Bal Jan 31, 2018 (2 yrs, 10 mos) 1 30 day late 2019

AMERICAN EXPRESS $1,000 0 Bal Apr 26, 2018 (2 yrs, 7 mos)

SYNCB/LITTMAN JEWELERS $1,500 0 Bal Dec 19, 2018 (1 yrs, 11 mos)

AMEX DEPARTMENT STORES N $300 0 Bal May 09, 2018 (2 yrs, 7 mos)

SYNCB/CARE CREDIT 6,100 0 Bal Feb 06, 2020 (10 mos)

AMERICAN EXPRESS $2,600 0 Bal May 20, 2004 (16 yrs, 6 mos)

SYNCB/LOWES $6,000 0 Bal Aug 21, 2020 (3 mos)

CAPITAL ONE/WALMART $100 0 Bal Feb 18, 2018 (2 yrs, 9 mos)

JPMCB freedom $1,200. 0 Bal Oct 29, 2011 (9 yrs, 1 mos)

VALLEY NATIONAL BANK $33,094. $25,482 Mar 12, 2019 (1 yrs, 9 mos). 72 months (6 years)

Closed account

AMERICAN HONDA FINANCE $28,567. Oct 20, 2014 (6 yrs, 1 mos) 1 30 late day 2015

COMENITY BANK/VCTRSSEC $450 Sep 19, 2010 (10 yrs, 2 mos). They closed the account

CAPITAL ONE BANK USA NA $651 Jul 13, 2016 (4 yrs, 5 mos) 2 30 1 60 late 2015.

TD BANK USA/TARGET $200 May 15, 2014 (6 yrs, 6 mos). Payment after charge off/collection

KOHLS $700 Sep 11, 2012 (8 yrs, 3 mos)

SYNCB/JC PENNEY $100 Jun 20, 2014 (6 yrs, 5 mos)

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 01:01:55 GMT

on it !

thank you !

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 01:15:23 GMT

At a glance it appears that utilization is now what's holding your upper 600's scores from the upper 700's, it would be payment history issues. I would check out the rebuilding forum to look for ways to tackle those issues. Your recent lates from 2019 should be targeted as well as your most severe negative items, which there only seems to be a couple. With some work on your end you could in theory get those items cleaned up and then your scores could end up roughly 100 points above where you currently sit.

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 01:31:05 GMT

Your recent lates from 2019 should be targeted as well as your most severe negative items, which there only seems to be a couple. With some work on your end you could in theory get those items cleaned up and then your scores could end up roughly 100 points above where you currently sit.

am i supposed to write letter?

heads off to the forums do search some more. I also noticed that i should carry a small balance each month?

Re: WHERE DO I START?

Mr_Mojo_Risin — Sun, 13 Dec 2020 02:57:15 GMT

@Anonymous wrote:
Your recent lates from 2019 should be targeted as well as your most severe negative items, which there only seems to be a couple. With some work on your end you could in theory get those items cleaned up and then your scores could end up roughly 100 points above where you currently sit.

am i supposed to write letter?

heads off to the forums do search some more. I also noticed that i should carry a small balance each month?

Not carry a balance as in month to month paying interest. You should let a balance or 2 post on your monthly statements, and after they post PIF (pay in full) by your due date.

The less accounts that post a balance will be favorable for your scores.

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 03:32:11 GMT

@Anonymous wrote:
Your recent lates from 2019 should be targeted as well as your most severe negative items, which there only seems to be a couple. With some work on your end you could in theory get those items cleaned up and then your scores could end up roughly 100 points above where you currently sit.

am i supposed to write letter?

heads off to the forums do search some more. I also noticed that i should carry a small balance each month?

@Anonymous sit down get some coffee or whatever take your time and read the primer so you understand how things work. It will lead you into how to correct your errors as well. Many useful links there.

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 03:37:26 GMT

I am reading thru them....... It's overwhelming information.... it will take me a while thank you!

@Anonymous wrote:
@Anonymous wrote:
Your recent lates from 2019 should be targeted as well as your most severe negative items, which there only seems to be a couple. With some work on your end you could in theory get those items cleaned up and then your scores could end up roughly 100 points above where you currently sit.

am i supposed to write letter?

heads off to the forums do search some more. I also noticed that i should carry a small balance each month?

@Anonymous sit down get some coffee or whatever take your time and read the primer so you understand how things work. It will lead you into how to correct your errors as well. Many useful links there.

Re: WHERE DO I START?

Anonymous — Sun, 13 Dec 2020 03:54:46 GMT

Lol.. sorry, that’s why I told you to grab the coffee! It is overwhelming at first.

go to the table of contents, post 8, so you can kind of get a feel for it, and then just break it down by section and it’ll be more palatable, hopefully.

It’ll probably take several readings, but will give you a tremendous headstart! Good luck and we’re here if you don’t understand anything.