New here - looking for help with credit issues

[Anonymous]

Hello,

My TU credit score is 572 and EQ is 536. I haven't had a late payment in 4 months on any of my accounts which is major progress for me. My credit cards were paid off in Sept. I did use one of them recently but paid it off but its still showing a balance on my EQ report. Could this be why my EQ score dropped 50 points? Last month my EQ score was 586. I'm not sure what happened - I can't find anything else new on my report that would make it drop. I do have 2 collection accounts that I've sent PFD letters to and I have a Verizon charge off account from 2005 that I haven't paid. What is my best course of action to raise my score if I would like to buy a house 3-6 months from now? My spouse is eligible for a VA loans and we are first time home buyers - does that mean I can have a lower score but still get approved? I make more $ than my spouse does so I know my score will be looked at moreso than his. His score is 713. Also, I haven't heard back from the PFD letters yet and I sent them nearly a month ago. What do I do if I get no response?

I know I have alot of questions. Sorry!

Kim

[Anonymous]

When I woke up out of my credit coma last March, I PIF'ed 4 out of 6 cards I had, and my scores rose dramatically. Maybe you are experiencing the same.

Good job!

[Anonymous]

Whenever a score drops and there is no apparent reason for it - I think the person has been bucketed. Which, in the long run, is a good thing. Keep your balances low - I know it is difficult to do at times.......but you will realize a nice bump by keeping balances at ~ 5%. Are you scores FICO scores or FAKO? You know, of course, there is no correlation between the two.  

As for the PFD's............give it 45-60 days - then try again. If no reply, I would dispute it with CRA's. Are you sending the PFD to a CA? If possible, send it to the OC.

Good luck with soon-to-be new home.

[Anonymous]

The scores I'm getting are the kind you can purchase with your credit report online. So is that FICO or FAKO? Also, I'm not sure what bucketed means. Verizon changed my charge off account status from closed to open this month so that may also be a reason my score dropped. I sent them a PFD letter too but maybe that was the wrong thing to do. I'm new to all of this.

[fused]

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kimbernet wrote:

The scores I'm getting are the kind you can purchase with your credit report online. So is that FICO or FAKO? Also, I'm not sure what bucketed means. Verizon changed my charge off account status from closed to open this month so that may also be a reason my score dropped. I sent them a PFD letter too but maybe that was the wrong thing to do. I'm new to all of this.

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Hi kimbernet and welcome to myFICO forums. Don't worry about the "buckets" it may very well confuse you in the beginning (as it still does some of us). May I recommend you read Tuscani's credit scoring 101 thread and then come back and fire away with your questions. Here's the link.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[Anonymous]

If you didn't purchase your scores from here its FAKO.