topic Re: Best course of action to improve scores in Understanding FICO® Scoring

Best course of action to improve scores

Anonymous — Fri, 14 Sep 2007 00:18:35 GMT

I currently have the following scores:

EQ 560

EX 581

TU 612

As far as baddies I have:

1 - utility account that was 120 days in Aug 05 - account was actually closed in 2002 and paid in 2005

2 - 3 -30 days on a Cap1 account in 2003

3- 2-30 days on Nissan account in 2003

My credit limits = $6000 and my balances are at about $5800

What suggestions does anyone have on increasing my credit scores?

Re: Best course of action to improve scores

Anonymous — Fri, 14 Sep 2007 02:26:40 GMT

Your utilization rate is high. Bring your balances down to 35% and you will see a big jump in your FICOS. Optimially, you want to have the balances at no more than 1% to 9% of your total available credit. FICO loves this and will reward handsomely.

Re: Best course of action to improve scores

Anonymous — Fri, 14 Sep 2007 15:05:40 GMT

One thing you can try, that won't cost you anything is to ask the companies that gave you the bad references, to make them go away. It's called a "goodwill adjustment" search the site for specifics.