topic My testamony in Understanding FICO® Scoring

Increasing My FICO Score

Anonymous — Wed, 21 Mar 2007 15:31:00 GMT

My mid-Fico Score is 508 and I am trying to refinance and cashout to purchase an investment home as well as make improvements to my first home. I signed on with a credit repair company that is suppose to be helping me with repairing my credit however, the process is slow and I was not seeing any fast results. So, I contacted them and they stated that because of my constantly checking my score and credit it contradicts what they are trying to do and ask that i be patient, well I was checking my credit and score frequently.

Now I came up with this idea to call around to my current mortgage co., bank, car co., and credit card co. and find out when they report to the three credit bureaus that way I can make sure my available balance on my credit card usage is (20% of the max. limit) and my line of credit usage is (25% of the max. limit) (keyword is usage).

Can someone tell me how long it will take for my score to reach 620 by using my idea to always use less of my available credit and paying the main bills on time?

My testamony

babygirl — Wed, 21 Mar 2007 16:48:31 GMT

I have not been doing this long. I started working to increase a score of 586 10/2005. I reached a score of 621 01/2006. I did write the credit bureau for two errors that were resolved. Good luck

Anything a credit repair agency can do for you, you cn do...

Anonymous — Wed, 21 Mar 2007 19:45:14 GMT

Anything a credit repair agency can do for you, you cn do for yourself. There are really no quick fixes but a couple I reccommend. First of all pulling your own report should have no bearing on ahything that they are doing. Secondly, if you find inaccuracies on yourreport, the only thing you or THEY can do is to dispute them, its up to the OC whether or not it is removed. Thirdly, if you want to see arapid rise in score, pay off all revolving balances to less than 10%. If you have 30 day lates call and ask for forgiveness (reaging, depending on how long ago they were) with the OC.

If everything along these lines has been done, the only other avenue is time. I went from mid fives to 680 in less than a year following these same steps.

Message Edited by Brammy on 03-21-2007 03:45 PM

Thanks, Brammy although I have been told that whatever th...

Anonymous — Wed, 21 Mar 2007 20:00:46 GMT

Thanks, Brammy although I have been told that whatever the credit repair place can i can do by myself i have tried and well it is a bit time consuming and since I already forked out the money and they know i am dissatisfied and their reputation well i am going to let them fulfill their end.

However, I never thought about calling people and asking for forgiveness that truly is a good idea but, what would i say like how would i word it. Also, I have figured the revolving credit thing out and also, found out that to boost your score you can piggyback by becoming an authorize user on a friend or family members credit card at SmartMoney.Com (for more information) http://www.smartmoney.com/top5/ .