topic Re: What to do credit is hovering around the 700 range in General Credit Topics

What to do credit is hovering around the 700 range

olivia3636 — Mon, 02 Dec 2013 18:50:04 GMT

This forum has provided me with great information and with it I have been able to buy a car and a house within the past year. Unfortunately since my home purchase (June 2013) my credit score seems to be stuck hovering right at the 700 range. I feel like I am doing all the right things, but I cannot break 715.

So I am hoping someone can help me figure out what I need to do increase my scores. Below are some brief facts, any help would be greatly appreciated!

Recent Credit information

- Purchased a car in Dec 2011

- Purchased house in June 2013

- 2 credit cards: $300 limit / $2000 limit

- 4 Credit Inquiries: 2 Mortgage related / 1 car related / 1 credit card related

Negative Information

Accounts Listed Negative 1
Accounts in Collections 0
Time Since Negative 1.3 Years
Current Negative Status None
Most Negative Status 180 Days Late

Length of History
Oldest Account 12.0 Years
Average Account Age 6.5 Years

Re: What to do credit is hovering around the 700 range

09Lexie — Mon, 02 Dec 2013 20:30:46 GMT

What is your current util? Are you letting both cc's report a balance?
Have you attempted to GW the negative? 120+ is a major derog and hurting your scores.

Re: What to do credit is hovering around the 700 range

Vettecor — Tue, 03 Dec 2013 00:58:52 GMT

Totally agree with 09Lexie. If possible get your utilization below 30%. Would be even better if you can get below 10% and keep it there.

I also think your FICO's will improve once you make more on time house payments. DON'T EVER BE LATE ON A HOUSE OR CAR PAYMENT !!!!!!!

You will get there and good job on your progress so far.

Re: What to do credit is hovering around the 700 range

olivia3636 — Wed, 04 Dec 2013 16:28:40 GMT

Yes both of my cc's report a balance and they are less than 30%; one is 15% and the other is 19%. I have not tried to GW the negative, but is has been paid off for more than a year. Will they still let me do that since it was paid that long ago?

Re: What to do credit is hovering around the 700 range

Walt_K — Fri, 06 Dec 2013 18:17:36 GMT

Yes, you can keep trying to GW. Sometimes they just won't budge, but you'll never know unless you are persistent.

Some good news though is that you'll probably see a score bump when it ages past two years. At that point, they seem to have less of an effect. I saw some pretty sizeable increases once my major lates aged past two years. I've tried the GW route and now just resigned myself to having to wait until these things fall off. I'll be clean in 2015.