Credit Score question

Anonymous — Wed, 26 Mar 2008 22:49:52 GMT

First wanted to thank everyone from my last posting. After paying over $15K in debt my credit score went from 577 to 612. It is ok I guess but want to get it up some more. The one negative mark is a late pay on my mortgage (which I am current now), so I am going to try and write them and see if they will remove it. The other thing is I still have alot of revolving debt, but it is going down. Right now my credit to credit ratio is 41% and within the next month I should be able to pay down another $6K which should bring it to 34%. I received my credit score from Equifax, so not sure which one if more accurate or not. The two things it states that is bad, is the amount of debt and new credit. The new credit is mostly I cosigned for my oldest son for a student loan. I dont know how bad of a hit that gives me or not. I did a simulation and this is what it stated:

Pay down $6,000 of Your Credit Card Balances

Your Current FICO® Score: 612

Your Simulated Score Range: 642 - 682

Am I doing the right thing to get my score back up again?? Thanks again everyone

Re: Credit Score question

Anonymous — Thu, 27 Mar 2008 01:41:05 GMT

The student loan will start showing on your CR if any affect on score will be small BUT if he is late at any time you will get hit hard!!!

Pay down on your CC you will see score increase as your UTIL goes down.

Remember scores also go by length of history.

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Credit Score question

Re: Credit Score question