What is the quickest way to gain 4 points?

[Red1Blue]

My TU is at 696 today. I have seen go up and down in the last few days due to new accounts and new apps. Pretty much I am not touching any thing for now. So hopefully my scores should go up soon. My Util is less than 1%.

What is the quickest way bring my scores up by 4 points. Do you think next month once the accounts age some more would my scores go up by 4 points? Also I have 3 inquires to drop off from my TU soon. Would that help me to gain 4 points?

I just want to cross the 700 barrier. What is the quickest way to get 4 points and join the 700 club?

[unknown_entity]

Go buy something for 8% of your total credit line and let it report...

[Red1Blue]

I thought less util is better.

[haulingthescoreup]

I think that you already know this, and you've already done it, but I will say: have all CC's but one report $0, and let that one report 9% or less of its credit limit.

You have my sympathies, though--I have notice that on my reports, TU is reporting a bit slowly. Hope any changes post in time for you.

[Anonymous]

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concorduser wrote:

I thought less util is better.

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Actually most find that 9 % total usage Util and at least 1/2 of your credit cards habing a 0 Balance gets the best scores.  I'm running at 11% and my simulators show paying off my cards completely will drop it 11 pts.  (FAKO I know but the theory is correct)

[haulingthescoreup]

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@Red1Blue wrote:

I thought less util is better.

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Less, but not 0.

[Red1Blue]

I have less than 1% util. Balances showing on 4 cards out of 12.

[haulingthescoreup]

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@Red1Blue wrote:

I have less than 1% util. Balances showing on 4 cards out of 12.

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What do you get on screen 2 of your FICO TU report, and on the sim?

These things aren't carved in stone by any means, but they do give a glimpse as to what that particular report wants to see happen. So if you get a message of "too many accounts with balances", pay some (not all) off and let them report zero, and see what happens. And so forth.

[Red1Blue]

Helping your score

You've limited the use of your available credit

Ratio of your revolving balances to your credit limits
1%For FICO High Achievers [?], this ratio is 7%, on average.

Should I increase my util to 7%?

Message Edited by concorduser on 03-28-2008 06:34 PM

[unknown_entity]

One could safely say:  YES!!!