https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2250697#M129080 <P>A few months ago, my husband and I started the mortgage process. &nbsp;My husbands credit needed a lot of touching up. &nbsp;His AAoA was short, he had high balances and small limits, and had a couple of late payments. &nbsp;The mortgage company used a credit analyzer program that went something like this... "Pay Discover down to $230 and your score will go up 14 points, Pay Student Loan down to $1500 and your score will go up 20 points, etc." &nbsp;It had suggested balances for each account and estimated score improvement with each action. &nbsp;His score had a 101 point improvement potential. &nbsp;I took a couple of months and paid down each account as suggested and his score did not improve half as what was expected. &nbsp;No, they do not guarantee anything, that is why it is called "potential," but it was still a major let down.</P><P>&nbsp;</P><P>Now, my advice to those of you who are like my husband and I-(young, trying to buy your first home and learning along the way) do you own research! &nbsp;My Fico Forums have helped me so much. &nbsp;I wish I had started right here for step one. As soon as I started utilizing the information and tips that I learned from these forums, his score started making major jumps. &nbsp;I also understand why I was taking certain actions of each account and I watched his score improve from each action through Score Watch. &nbsp;With that said, purchase Score Watch. &nbsp;Our scores from the mortgage company have always been in line with Score Watch. &nbsp;I use another program that I pay for and it is always way off. &nbsp;</P><P>&nbsp;</P><P>I hope this can be helpful for some of you. &nbsp;I have gained so much knowledge from other members and I wanted to throw this bit of information out there. &nbsp;Good luck!</P> Thu, 27 Jun 2013 12:21:03 GMT Anonymous 2013-06-27T12:21:03Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2250697#M129080 <P>A few months ago, my husband and I started the mortgage process. &nbsp;My husbands credit needed a lot of touching up. &nbsp;His AAoA was short, he had high balances and small limits, and had a couple of late payments. &nbsp;The mortgage company used a credit analyzer program that went something like this... "Pay Discover down to $230 and your score will go up 14 points, Pay Student Loan down to $1500 and your score will go up 20 points, etc." &nbsp;It had suggested balances for each account and estimated score improvement with each action. &nbsp;His score had a 101 point improvement potential. &nbsp;I took a couple of months and paid down each account as suggested and his score did not improve half as what was expected. &nbsp;No, they do not guarantee anything, that is why it is called "potential," but it was still a major let down.</P><P>&nbsp;</P><P>Now, my advice to those of you who are like my husband and I-(young, trying to buy your first home and learning along the way) do you own research! &nbsp;My Fico Forums have helped me so much. &nbsp;I wish I had started right here for step one. As soon as I started utilizing the information and tips that I learned from these forums, his score started making major jumps. &nbsp;I also understand why I was taking certain actions of each account and I watched his score improve from each action through Score Watch. &nbsp;With that said, purchase Score Watch. &nbsp;Our scores from the mortgage company have always been in line with Score Watch. &nbsp;I use another program that I pay for and it is always way off. &nbsp;</P><P>&nbsp;</P><P>I hope this can be helpful for some of you. &nbsp;I have gained so much knowledge from other members and I wanted to throw this bit of information out there. &nbsp;Good luck!</P> Thu, 27 Jun 2013 12:21:03 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2250697#M129080 Anonymous 2013-06-27T12:21:03Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2250917#M129088 <P>A student loan for one is an installment loan.&nbsp; Paying it down might not help your credit score.&nbsp; I have been paying off my student loan like crazy and I have not received a boost in scored.&nbsp; I even paid off my car loan, which decreased my score to , and that is an installement loan.&nbsp; Credit Cards is considered revolving credit and they are based off of utilization.&nbsp; You will hear most on this forum talk about getting your credit cards under 9% utilization.&nbsp; However I have found out other wise the magic number to increase the score is between 1-4%.&nbsp; I have only 2 cards, however I have heard the real boost is when you have 3 cards.&nbsp;&nbsp;</P> Thu, 27 Jun 2013 14:43:29 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2250917#M129088 jadeite788 2013-06-27T14:43:29Z https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2251969#M129136 <P>Agreed about the student loan. &nbsp;However, when I first started polishing up our credit, I trusted the mortgage company and their "credit analyzer" and followed their advice. &nbsp;You live &amp; you learn. &nbsp;The loan is minimal and in all honesty is probably balancing his accounts out being it is an installment &amp; not a revolving account. &nbsp;I'm still learning <img id="smileyhappy" class="emoticon emoticon-smileyhappy" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-happy.gif" alt="Smiley Happy" title="Smiley Happy" /></P> Thu, 27 Jun 2013 20:19:15 GMT https://ficoforums.myfico.com/t5/Mortgage-Loans/Do-your-own-research-about-your-credit-score-The-mortgage/m-p/2251969#M129136 Anonymous 2013-06-27T20:19:15Z