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I am looking for someone to offer their personal opinion on why my credit is topping out at 700. I do get fico quarterly scores from myfico. Here is a brief over view.
-Oldest account in 5-10 years old.
-5 credit cards with overall limit of 18k; utilization rate of 15%
- 2 single 30 day lates appearing on report about 10 months ago. (credit card)
- 9 180+ day lates on student loans. They are scheduled to all age out 06-2019
-Current car loan and past car loans that have been paid off.
- Hard inquiries for mortgage. Have not closed yet, so account do does not appear on report yet.
-No other inquiries or derogatory remarks.
How could i get to 750+?
utilization rate of 15%
- 2 single 30 day lates appearing on report about 10 months ago. (credit card)
- 9 180+ day lates on student loans. They are scheduled to all age out 06-2019
Your issues are right above. Taking your utilization down to below 8.9% will give you a 15-20 point bump on your scores. The other issues are your delinquencies. When the majors (180+) fall off, you may see your scores rise 50+ points if only the 30 days remain. You can't expect much more before those majors are gone, though.
at what point do those 30 day lates become less a factor and my score rebound as a result?
Utilization is a tad high to maximize scores but the lates will be your holdup. Honestly, considering your late payments, your score is pretty good. Try to hit ~8-9% util. How late are your payments? 30+, 60+, 120+?
thanks for all the info. i appreciate it.