As a newer member to the forums, let me know if this should have been posted elsewhere.
As I am finishing up the rebuild process and getting ready to atttempt a refinance, I have carried some high balances on cards. Some for work, some for personal, etc. Over the past month, I have paid quite a bit down and was just wondering what to expect. I tend not to believe the simulators because they seem to either go really high one way, or no movement at all on the other. At any rate, I figured I would ask you guys for your opinion and seer like knowledge of the FICO scoring.
Up until a few weeks ago, I had this:
Card Limit Balance
Amex $24,100.00 $26,550.00 (Amex let a charge go over limit for a personal expense)
Discover $6,400.00 $5,900.00
BB Jewelers $8,500.00 $$5,000.00
GE/Sync $6,000.00 $0.00 (Have not used it since 2010, carried a $3k balance and paid it off over 15 months)
Trek/Cominity $4,500.00 $3,900.00 (What can I say, I love biking)
Home Depot $500.00 $478.00
During this time my scores stayed around 683 for EQ, 649 for TU, and for some reason 610 for EX. Granted, the balances were not always that high, I paid down, charged up, etc. I just used the highest balances I carried.
Now:
Card Limit Balance
Amex $24,100.00 $8,700.00
Discover $6,400.00 $983.50
BB Jewelers $8,500.00 $2,100.00
GE/Sync $6,000.00 $0.00 (Thinking of buying something, just to show activity on the card)
Trek/Cominity $4,500.00 $1000.00
Home Depot $500.00 $35.00
I do have two charge off accounts from 2007 that were on my file from Credit One & Bloomingdales. I sent GW letters to both since they are not due to drop off until this time next year. I do not expect anything from Bloomingdales, but the EQ update I got today showed the Credit One dropped, so I am assuming it will drop off the others as well. Anyway, my hope was to get two scores above 690 to get the type of refi product and rate I want.
What do you guys think?
Thanks!
