I recently got an uptick of my equifax score from 650 to 673 due to utilization going from 34% to 4% (or in scorewatch speak "very good" to "great") and my new credit going from "not good" to " good". I created a simple little excel tool to calculate my score based on the weightings 35/30/15/10/10 for Payment/Util/history/new/type and a 1-5 scoring (bad-great). I came up with 274 - pretty close.
The problem I have in getting my score over 700 is the two areas I need to improve are either very difficult or mutually exclusive with another category.
I'm going to try and GW away some of my late payments but that might not happen and the score will take time to improve if they remain - is there any intelligence about how slowly the late payments age?
I would like to improve my credit types by getting an auto loan or installment account, but this will reduce my new credit score and seems they are they same weighting is probably not worth it.
My wifes CC which I'm an authorized user util went up but didn't affect my score yet - does anyone know if the scorewatch alert updates the score with each change or is this a blip in the future?
