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Fico scores what is good and what is not good? And how to increase them? New to Form!

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New Member

Fico scores what is good and what is not good? And how to increase them? New to Form!

I am new to this form and i pull my scores from Fico and my Tu is 666/ Eq is 657/ Ex is 602. I have only two CC BofA $1500 limit/  Barclays Choicepriviliges visa $450 limit.Two tradeline Exxon mobil $600 limit and Chevron/Texaco $500 limit. I will like to see my score increase to the 700's range by 2014. Is that possible by me not using the cards i have now any more or just paying my bilsl every month on time and the score will increase over time?

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Regular Contributor

Re: Fico scores what is good and what is not good? And how to increase them? New to Form!

How did you get a Experian FICO score from FICO? I know it sounds stupid, just gotta ask.As for your question. tt depends. How long have you have credit? What is your average age of account? What is you % utilization?

 

The most relevant factor affecting your credit score is how much you use your credit cards, Try to for one month, leave about $100 balance on your bofa card and ZEROS on all other. Look at your scores again about a week after all your credit cards cut a statement. That's about as high as you can get in a short term period (6 months ~ 1 year). Beyond that it's just meticulously paying and not apply for cards when you necessarily have to. 


Starting Score: EQ: 703 (4/2011);
Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

Take the FICO Fitness Challenge
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Senior Contributor

Re: Fico scores what is good and what is not good? And how to increase them? New to Form!

Use your credit cards, Pay on time.    In 2014, get your reporting utilization to optimin,  your score will be great.

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New Member

Re: Fico scores what is good and what is not good? And how to increase them? New to Form!

As for my Experian score 602 that is  AMEX use from Fico.  To denied my application when i applied for the Delta Gold Skymiles Card three days ago. I pull my Experian credit report and it said that my score was 629. So i do not know AMEX come up with a 629 from using fico.

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Moderator Emerita

Re: Fico scores what is good and what is not good? And how to increase them? New to Form!


@Referee82 wrote:

As for my Experian score 602 that is  AMEX use from Fico.  To denied my application when i applied for the Delta Gold Skymiles Card three days ago. I pull my Experian credit report and it said that my score was 629. So i do not know AMEX come up with a 629 from using fico.


The Experian score that you got directly from Experian is not a FICO score. It's their home-grown "credit score", not used by lenders.

 

If the AmEx denial said that the score that they gave you was your FICO Experian score, that's what it was.

 

 

eta: Sorry about the denial. Smiley Sad

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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