What Do I Do Next?

[Anonymous]

What should I do next?

Here is a quick rundown:

-My baddies are a few 30 day late payments, now about 4-6 years in the past.

-We have enough credit available to keep our overall revolving utilization at around 1%. Any CLIs would be for purely FICO gaming or far out scenarios, as we don't really come close to using what we already have.

-We have 6 credit cards: 3 are in my name, wife AU on these. 3 are in wife's name, I'm AU on those.

-Of those, one is an Amex card from Amex, the rest are BofA Visa and BofA Amex cards of various flavors.

-We have an installment auto loan added to the mix.


I'd like to be in the 760-790 range by the end of 2009. Suggestions on what else to do?

[Junejer]

Besides GW on the lates (they are probably not providing that much pain still), I would make the AUs joint, as FICO '08 will prolly hurt you for the AUs. Also, you didn't say, but don't allow half or more of your open accounts to report a balance.

You seem to be doing everything right, so time is your biggest ally. What is your oldest TL and avg age?

[Anonymous]

---

@Junejer wrote:
Besides GW on the lates (they are probably not providing that much pain still), I would make the AUs joint, as FICO '08 will prolly hurt you for the AUs. Also, you didn't say, but don't allow half or more of your open accounts to report a balance.

You seem to be doing everything right, so time is your biggest ally. What is your oldest TL and avg age?

---

Oldest account is 8 years, 11 months.

Average age is 4 years.

Half of our cards have 0 balance. They're basically sock drawered.

Can AUs be converted to joint in most cases? I thought most issuers didn't allow. I've never even seen an option for 'joint' on a BofA credit card app.

Message Edited by watchnerd on 04-02-2008 07:35 AM

[Junejer]

You would have to qualify (INQ), ask for a soft, but absolutely. My ex and I were always joint on all of our CCs.

[Anonymous]

---

@Junejer wrote:
You would have to qualify (INQ), ask for a soft, but absolutely. My ex and I were always joint on all of our CCs.

---

When talking to a CSR, what's the official term for a soft inquiry?

[Junejer]

Soft inquiry or soft pull will do just fine.