topic Re: 6 months with zero balances in Understanding FICO® Scoring

6 months with zero balances

newhomeowner1979 — Tue, 01 Jun 2021 16:06:59 GMT

I have paid off all my collections. Currently I have five credit cards with no missed payments. I am trying to raise my score 100 points in 6 months. Can I raise it that fast by keeping my credit cards at a zero balance for 6 months?

Re: 6 months with zero balances

AllZero — Tue, 01 Jun 2021 18:45:51 GMT

@newhomeowner1979 wrote:
I have paid off all my collections. Currently I have five credit cards with no missed payments. I am trying to raise my score 100 points in 6 months. Can I raise it that fast by keeping my credit cards at a zero balance for 6 months?

What scoring model is important to you, FICO 8s or mortgage scores?

You'll want to report at least $10-$99 on one major bank card and not a store or charge card.

Do you have any other derogatory or delinquency that is suppressing your scores?

Re: 6 months with zero balances

SouthJamaica — Tue, 01 Jun 2021 19:11:00 GMT

@newhomeowner1979 wrote:
I have paid off all my collections. Currently I have five credit cards with no missed payments. I am trying to raise my score 100 points in 6 months. Can I raise it that fast by keeping my credit cards at a zero balance for 6 months?

No you probably can't.

But if you want to optimize your revolving utilization scoring factors, follow @AllZero 's good advice, and let all but one of your cards report a zero balance while one card reports a small balance each month before you pay it off.

Re: 6 months with zero balances

babygirl1256 — Tue, 01 Jun 2021 20:07:51 GMT

newhomeowner1979 ~ I raised my score 78 points in 1 month by having the one and only adverse item deleted early from my Experian report . . . So I won't say you can raise it in 6 months by keeping your credit cards at a zero balance -and- I won't say that you can't raise your score 100 points in 6 months -but- I believe a large factor is what other items are on your report -and/or- whether they can be deleted.

You stated that you have paid off all your collections.
Were your collections PFD (Pay For Delete) -or- are they still on your report?
You currently have five credit cards with no missed payments -but- what else is on your file?

Wishing you success in raising your score as close to 100 as you can ~ within 6 months!!!