topic Down the stretch to 700 in General Credit Topics

Down the stretch to 700

bigraydaddy65 — Tue, 11 Jan 2011 14:54:45 GMT

My FICO score has steadily improved from sub 500 in April 2008 to 677 EQ and 687 TU Jan. 2011. I improved my score by making all my payments on time, making the minimum payments, and maybe throwing in an extra $20 on top of the payments. My utilization is still 75%, down from 100% in April 2008.

Is it possible to make the 700 club with my utilization around 70% by making all my payments on time? Or do I have to get my utilization under 50% or so to see 700?

Thanks for your replies. RAY

Re: Down the stretch to 700

RobertEG — Wed, 12 Jan 2011 06:26:21 GMT

No.

Just that % urilil down.

Re: Down the stretch to 700

RobertEG — Thu, 13 Jan 2011 03:38:59 GMT

In my opinion, while % util is clearly important from month to month, moving above 700 usually requires a first look at the old derogs in your CR.

Those affect your score the most, until they finally die of their own old-age. Getting earlier deletion of remaining derogs is something you can pursue, in addition to your current excellent focus on continued timely payments, and reduction in your current % util.

I suggest that you list each and every delinquency still appearing in your CR.

Monthly delinquencies under an OC account will remain in your CR until after 7 years from their indiv dates of delinquency.

COs and CAs will remain, should you not obtain earlier deletion, until after 7 years plus 180-days from the DOFD on the OC account.

I suggest sending GW letters to secure their earlier deletion.

Re: Down the stretch to 700

bigraydaddy65 — Fri, 14 Jan 2011 18:42:53 GMT

I've got a 90 days late in Apr. 2008. I guess it won't come of until mid/late 2015.

Anyone have any luck with a GW letter to Citicard?

I also assume you can't get a late taken off by a simple phone call to the CC "credit specialist"?

Thanks for the replies so far.

Re: Down the stretch to 700

MarineVietVet — Fri, 14 Jan 2011 18:46:25 GMT

@bigraydaddy65 wrote:
I've got a 90 days late in Apr. 2008. I guess it won't come of until mid/late 2015.

Anyone have any luck with a GW letter to Citicard?

I also assume you can't get a late taken off by a simple phone call to the CC "credit specialist"?

Thanks for the replies so far.

All they can do is say no. It's worth a try.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Down the stretch to 700

larinoriani — Wed, 19 Jan 2011 00:05:40 GMT

Revolving UT drives FICO's significantly. Maybe not with 70%, but with less than 30% UT, I'm pretty sure you can see the 700's even with a 90 day. Provided you don't have more baddies and continue to make all your payments.

Keep the good work, you're almost there!

Re: Down the stretch to 700

bigraydaddy65 — Sat, 22 Jan 2011 08:05:27 GMT

Thanks Robert, marinevietvet, and larinoriani forn your replies. I hope to make 700 sometime soon. I'll just keep the payments on time and try to get my util down.

Thanks again.