Looking for someone who knows more than I do.

Anonymous · ‎10-27-2018

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+?

Anonymous · ‎10-27-2018

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.

Anonymous · ‎10-27-2018

at what point do those 30 day lates become less a factor and my score rebound as a result?

Physh1 · ‎10-27-2018

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+?

Anonymous · ‎10-27-2018

Your 30 day lates are the least of your worries honestly. All it takes is a single 90 day (or greater) late and even if it's 6 years old it will hold back your scores 70-80 points on average. You could remove both of your 30 day late payments and it wouldn't improve your score even a single FICO point due to the fact that you have majors still present on your CR. Majors don't fade much over time; the score gain you get the most from is when your final major falls off.

Anonymous · ‎10-28-2018

thanks for all the info. i appreciate it.