topic Possible FICO score? in Understanding FICO® Scoring

Possible FICO score?

Anonymous — Tue, 08 Apr 2008 23:06:17 GMT

Hello Everyone,

Newb here, first, wow, you all have a tremendous amount of knowledge. My question is: my tu fico right now is 565. I have 3 cards a WaMu with a limit of 1500 and balance of 1400, a capital one with a limit of 500 and a balance of 450, and Orchard Bank with a limit of 300 and balance of 250. Nothing has changed in regards to my credit this month with the exception that I paid down my balances to 29.00 on my WaMu, down to 350 on my cap one, and 35 on my Orchard Bank. Anyone, can you give me a guess as to how much this may raise my FICO score? And secondly, I want to try to get a card with a higher limit, any suggestions on which card to apply for? Bases on the limited info I provided. Thanks in advance.

Re: Possible FICO score?

Junejer — Tue, 08 Apr 2008 23:24:17 GMT

19% overall uti: my guess is 40-60 points, maybe more. Assuredly more, if you pay down overall uti to 1-9% and only allow 1 card to report a balance.

Are there any baddies on your CRs aiding in keeping your score down?

Re: Possible FICO score?

Anonymous — Tue, 08 Apr 2008 23:30:09 GMT

I had a charge-off in 2002 and recieved a judgment against me at about the same time, for a measely 175.00 med bill. Can't believe I let it go that far. I guess now I pay the price, by the way. Thanks for the reply.

Re: Possible FICO score?

Junejer — Tue, 08 Apr 2008 23:33:27 GMT

They won't be on your reports for too much longer. Co from a CC? Does the CO show a balance? If so, that will be included in uti as well. BTW, great job bringing down uti. The one still has 70% uti, so work on that one for next reporting period and you are going to be in great shape.

Re: Possible FICO score?

Anonymous — Tue, 08 Apr 2008 23:39:00 GMT

You guys are great did not know the co'd cc would be included in utility. They offered me a settlement to pay half. Like 350 dollars. I guess I should take the offer??? Thanks for the compliment, been really prudent about paying my bills ontime these days.

Re: Possible FICO score?

Junejer — Tue, 08 Apr 2008 23:45:49 GMT

Since it is so old, and if the settlement is still open, ask if they will pay for delete (PFD). Heck, I would even pay the entire balance showing on my CR, to get it deleted from my reports.

Oh, BTW, welcome to the forums. Please read credit scoring 101 in the stickied threads, if you haven't already done so.

Re: Possible FICO score?

Anonymous — Tue, 08 Apr 2008 23:50:56 GMT

Thanks, Byrd-Man

Re: Possible FICO score?

RobertEG — Wed, 09 Apr 2008 05:15:14 GMT

Get their agreement that any payoff is contingent upon a pay-to-delete, i.e., your payoff is in exchange for their agreement to delete it from your credit report. Otherwise, is still remains as a lingering organic disease.

Re: Possible FICO score?

Anonymous — Wed, 09 Apr 2008 09:23:54 GMT

so if they agree to delete from my cr then pay, so what if they tell me they will not delete from my cr? Do I still pay? Most of the dings I have are approx. 5yrs. old. Thanks for the tip.

Re: Possible FICO score?

haulingthescoreup — Wed, 09 Apr 2008 11:10:24 GMT

Get it in writing! Look up at the top of this board (or at the top of General Credit) and click on Frequently Requested Threads. There are several threads in there about PFD's, with a bunch of sample letters.

For this one, since you acknowledge that it was your debt, don't use one of the grumpy ones. I would take one of the sample letters and add something to the effect that you appreciate their offer to settle for half, but in fact that you'd rather pay it in full, if and only if they will agree in writing, on company letterhead, to cease reporting the derogatory information afterwards. (I think I might have blended two of your baddies here, but the same idea applies.)

General Credit Issues is full of discussions about PFD's, although it's a bit of a madhouse these days.

Re: Possible FICO score?

RobertEG — Thu, 10 Apr 2008 05:34:28 GMT

Hauling, that is GREAT advice!

Re: Possible FICO score?

Anonymous — Thu, 10 Apr 2008 05:56:40 GMT

Definitely, great advice. Thanks