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How long will it take for me to get to 700 Fico score? (Overall CR items for evaluation)

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Re: How long will it take for me to get to 700 Fico score? (Overall CR items for evaluation)

 

But i see "Amount of New Credit Your recent credit history of new loans or applications." and 2 of which are reported as poor

What does that mean?  It means you have too many new accounts relative to your total history

Does that mean I have not enough credit cards or what? i'm confused by the phrasing they use. how can i improve on this? Don't apply for new credit

It's confusing because my one and only new credit card has been reported to only Experian & TransUnion so far.

yet Equifax has the highest score and considered good amount of new credit? Equifax doesn't know you have new credit, yet, so it is not taking it into account.  Once it reports as a new account there, you will likely get the same message from EQ


It sounds like, for now, just garden a bit, let your new account age for a while, make on-time payments, and keep working to get negative information removed (if it is incorrect, of course).  Your credit score will grow with time, which is what makes patience so important in the credit score game! :-)

 

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Regular Contributor

Re: How long will it take for me to get to 700 Fico score? (Overall CR items for evaluation)

2-3 revolving cards can help boost your score. I started with 1 Orchard Bank card and when I added a capital 1 card and 1 walmart card my score increased with each new add. I went from about a 640 to around 675 after the new adds.

 

I 2nd the recommendation to join either PSECU or NFCU credit union and apply for their low interest, no annual fee cards. They give high limits and also allow you to build a good relationship with a CU. CU's have great auto loan and mortgage products. I would personally avoid major banks like BofA, Citi and Barclays. Also try for an Amex.

 

1. App for an Amex (Zync or Green - or both).

2. App for a CU account and apply for credit card 

3. App for one GEMB store card at a store that you regularly frequent

4. Garden for a year

 

App for them all at the same time so that the inquiries all fall off at the same time. App Amex first.

 


With FICO, time heals all wounds.

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