How long does it take to get your score up?

[Anonymous]

Hello There: I had a very good score two years ago 720 (it was the perfect score then). I bought some investment properties and tackled a rehab that went south. My mortgages were then paid late (one 60 days). I am better now after I sold the property but my score is not 535 (I just checked with Experian). I need to refinance my residence but two brokers said I cannot because of my score and I don't want to do FHA loan. My last late payment was in October 2007? It will be 6 months in April? I don't have debts other than 3 mortgages, I do have good salary. I do have $14K savings? Help! Balto

[Anonymous]

Among other things you can do, try GW'ing the lenders and see if they can remove the negative baddies on your reports.  I assume they are all paid to date.  Good luck and welcome.

[Anonymous]

Thank you. I just read something in here that using your credit card and paying it off will raise the score? I have two credit cards but I never use them. Should I start using them for my daily expenses and pay them off at the end of the month? Would that help? thx

[fused]

For max FICO points, I would allow one card to report a balance of 1-9% of the credit limit and the other card report a $0 balance. Choose the one with the lower APR to report a $0 balance.

[Anonymous]

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fused wrote:

For max FICO points, I would allow one card to report a balance of 1-9% of the credit limit and the other card report a $0 balance. Choose the one with the lower APR to report a $0 balance.

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How do you calculate that like... how will I know how much I should leave on the card if I have an balance of 300?  Step by step would be appreciated(smile) thanks

[Anonymous]

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strong_lady wrote:

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fused wrote:

For max FICO points, I would allow one card to report a balance of 1-9% of the credit limit and the other card report a $0 balance. Choose the one with the lower APR to report a $0 balance.

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How do you calculate that like... how will I know how much I should leave on the card if I have an balance of 300?  Step by step would be appreciated(smile) thanks... wait did i say that right... If i have 300 on my card and I spend 200 how much should i pay.  Jeez im confusing myself...lol

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[Junejer]

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@Anonymous wrote:

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@Anonymous wrote:

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@fused wrote:

For max FICO points, I would allow one card to report a balance of 1-9% of the credit limit and the other card report a $0 balance. Choose the one with the lower APR to report a $0 balance.

---

How do you calculate that like... how will I know how much I should leave on the card if I have an balance of 300?  Step by step would be appreciated(smile) thanks... wait did i say that right... If i have 300 on my card and I spend 200 how much should i pay.  Jeez im confusing myself...lol

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strong lady. If you have a CL of $300, then 1% of it is $3 and 9% of it is $27. Soooo...somewhere in that range should cover it.

[Anonymous]

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@Junejer wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@fused wrote:

For max FICO points, I would allow one card to report a balance of 1-9% of the credit limit and the other card report a $0 balance. Choose the one with the lower APR to report a $0 balance.

---

How do you calculate that like... how will I know how much I should leave on the card if I have an balance of 300?  Step by step would be appreciated(smile) thanks... wait did i say that right... If i have 300 on my card and I spend 200 how much should i pay.  Jeez im confusing myself...lol

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strong lady. If you have a CL of $300, then 1% of it is $3 and 9% of it is $27. Soooo...somewhere in that range should cover it.

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Sorry for the long delay but..... Thanks

[Junejer]

Wowsers! You're welcome.