topic Re: Different Credit Scores in Understanding FICO® Scoring

Different Credit Scores

felyasocal — Thu, 29 Aug 2013 18:00:04 GMT

So, as many others here, I am really frustrated. I will try to make a long story short

I started cleaning up my credit about 4 months ago. I started off at around 500+ for all 3 CRAs. Right now at I am 670 with Equifax, 650 with TU, and 597 with Experian. I honestly don't understand why Experian is so low. I've filed a number of disputes. I have 2 new credit cards and one old one that I have been maxing out and paying off fully every month. Just got a car lease for my wife (with a cosigner), but I don't see it on my credit yet. I hope it helps the score when it does show up. I just don't understand what else I can do to raise my scores. I have 6 months left on my car lease and I am just not sure my credit will be as good as I want it to be by the time I want to buy\lease again. My auto score was 590 and I have no idea why its so low. All these numbers and formulas that are used are simply very frustrating. Fico, Faco, Vantage. Its all BS imho. The negative items that I have on my credit are old student loans, but they have been transferred to different lenders and I am currently paying those on time every mont. Does anyone have any suggestions as to what I can do to get myself self to 700 for all 3? I've done enough research and I know what has to be done, but I just dont see much improvement. The old stuff is still haunting me. Should I just be patient or should be more proactive and try to do more (dispute, clean up, apply, etc).. Please help. This is keeping up at night!!!!

Thank you in advance =)

Re: Different Credit Scores

Anonymous — Thu, 29 Aug 2013 18:03:39 GMT

You shouldn't be maxing out your CC each month. I beleive the rule-of-thumb is to not go over 25-35% of your avaiable credit.

Re: Different Credit Scores

felyasocal — Thu, 29 Aug 2013 18:05:34 GMT

Ok. good tip. I wasn't maxing out, but i was about at 75%. At least that's what I thought I should be doing when I was researching this stuff! Thank you!

Re: Different Credit Scores

pizzadude — Thu, 29 Aug 2013 18:27:32 GMT

If you are looking to maximize your FICO score, you should let one card report less than 9% utilization, whilst letting the other cards report a zero balance.

Even if you pay your cards in full every month, if they're reporting as maxed out then it's killing your FICO score.

Also I will move this to Understanding FICO scoring.