Hello everyone, I will try to be as accurate as possible. My family and I are trying to raise my ficos enough to qualify for a mortgage on a mobile home. Therefore I pulled all 3 Fico scores today. Previously I only had EQ 625 on 3/25/08, I thought not to bad for where I have been. Today I have new scores, all Fico TU 603, Exp 591, Equ 628. My wife wanted to cry. heck I wanted to cry.
After looking at all my reports, TU,Exp and Equ have similar reports, 4500 bal on 5500 HSBC card, 0 Bal on 1500 Cap 1 card, 0 Bal on 200 Target Guest card.
As far as utilization goes, I have reshuffled some items. Transfered 1000 from HSBC new soon to be Bal 3500, Cap 1 goes up to 1000 Bal but I got CL increase to 2000. These are the only 2 Credit Cards I own. Good news is I will be able to pay a total of 2200 on 4/1/08 To these 2 Credit Cards.
TU reports 7 total 60 days past due on Suntrust student loans, 5 of these were original and consolidated into the other 2 , Total 7. The first 5 all have 60 days late June/July 2005. They are also showing paid and closed. The next 2 have 60 days late June/July 2007. They are also showing paid and closed. These were sold To Nelnet Feb 08 . I have been current on all obligations since July 2007. They also have a Paid Collection, Debt Recovery Solutions for $69, paid on Nov 6, 2006. This was originally owed to Sprint Ltd. 4 Total inquires, Apr,Aug,Oct,Oct 2007..
Exp reports 14 total, 7, 60 days late and 7, 30 days late on Suntrust SLoans, and they show them all open. The first 5 show 0 Bal, the next 2 show total 18000 bal. Also on this report Nelnet is showing 2 accounts with 18000 Bal,these are the same as the 2 suntrust accounts with balances. One more thing the late dates on the first 5 suntrust accounts are Jan/Feb 2006 as opposed to TU which has them at Jun/Jul 2005. They also have the paid collection DRS for $69 paid 11/06/2006. 5 total inquires Apr,Apr,Aug,Oct,Oct 2007.
Equ reports 14 total, 7, 60 days late and 7, 30 days late on Suntrust Sloans, all open and paid 0 Bal. The late dates are first 5 Suntrust Jan/Feb 2006, Next 2 Suntrust are Jun/Jul 2007. Nelnet never late, 18000 Bal. No collections thus Im guessing the better score. 2 total inquires Aug,Oct 2007.
Well guys and gals Thats It Nothing More Nothing Less.What am I looking for?, Is there anything I can do to better the situation. How can I get better Fico scores, What am I missing what am I not doing.
Anything Hopefull for our Mortgage dream.
In addition to what has been posted, you could put $1900.00 toward the HSBC card which will bring it's utilization down to 29%. Then apply the remaining $300.00 toward the Cap1 card which will bring it down to 35% utilization. Once you do this then you should see a pretty nice jump in your scores since you will be going from a combined 58% utilization down to a 30% combined utilization. (generally there is a sizeable increase once you break under 30%).