What trade lines should I try to add if any?

[wfreeman3]

Your Latest FICO® Scores TransUnion

565

Date: 2/18/2008
Equifax

586

Date: 2/14/2008 Experian

621

Date: 2/10/2008

Current Credit Lines

                                                   Limit          Balance      Date Opened     Status

Capital One Auto Finance       15750            11877         05/2006             Current

American General Finance       5827              4635         03/2007             Current

Citibank/DF S  (Dell)                 2000              1497         01/2007             Current

GEMB/Peach Direct                 2000              1341         09/2007              Current

GEMB/Lowes                              500                    0         11/2005             Current

Credit One Bank                         350                    0         10/2007             Current

HSBC Bank                                300                     0         05/2007             Current

Capital One Credit Card           3250                 672         03/1999             Current

Any feeback will be well received

[Anonymous]

I would get those scores up prior to apping for anything-

Any baddies that can be addressed?

[haulingthescoreup]

Do the Dell and Peach accounts show as revolving or installment?

[wfreeman3]

Here are my negatives.  Any thoughts on how to procede?

COLLECTIONS       Med1 Florida Hosporlando 12/1/2007 $40.00 COLLECT PUBLIC RECORDS       State Tax Lien 12/1/1999 $2,957.00 LIEN Simpson Spring Lien 11/1/2003 $0.00 LIEN DEROGATORY ITEMS       Am-Studast 7/1/2002 $121.00 120+ Am-Studast 8/1/2002 $111.00 120+ Am-Studast 8/1/2002 $111.00 120+ Am-Studast 7/1/2002 $83.00 120+ Sallie Mae 9/1/1991 $0.00 120+ Verizon FL 7/1/2003 $128.00 120+

[wfreeman3]

They are revolving

[haulingthescoreup]

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@wfreeman3 wrote:

They are revolving

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OK on that alone, it will be really helpful to get the utilization down under 50% as a start, and then keep paying them down. The installment loans are factored separately, so you can just keep paying in a timely manner on them.

Leaving how to handle the baddies for the experts!

Message Edited by haulingthescoreup on 02-18-2008 10:46 AM

[wfreeman3]

Thanks for the feedback!   I can have them both down to $500 each within the next 2 weeks.  What kind of a bump can I expect?  Maybe 10 points?

[wfreeman3]

I just got approved for a VA mortgage for 163k as well.  I know that once that hits the CR I will take a hit, but hopefully in the long run it will be good for my scores.

[haulingthescoreup]

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@wfreeman3 wrote:

Thanks for the feedback! I can have them both down to $500 each within the next 2 weeks. What kind of a bump can I expect? Maybe 10 points?

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If those really are included in your revolving util, you're at 75% and 67%, and $500 balances would be 25%, so yes, you ought to get a good jump.

I'm terrible at guessing these--we need someone who used to have really high util who can tell you what happened with them.

You can confirm whether they're totaled in your revolving by looking at the percentage util that might show on screen 2 of your FICO score reports, and seeing if the math works (with whatever your other balances were on that report.) You can also look at the page that says Credit-at-a-Glance, and see if those balances fall in revolving or installment. (Note: sometimes these things get represented wrong on this page, even when they're scored correctly. This happens with home equity lines of credit, etc.)

And yes, that mortgage will help in the long run. Welcome to the ranks of happy homeowners!