What can i do to get my score to 700?

[Anonymous]

Currently I have 4200 in revolving balances and am at maximum usage with my credit cards. I just paid two of them off for the total of 1000 dollars, but there is another 3200 owed on two other cards. In addition to that, I have about 20 inquiries on each of the bureaus. I am working to get them removed , and they soon will be down to about 7-9 per bureaus. I also just got approved for the $200.00 target card, so that should help my available credit as well I think. I also have a car loan that is 5 months old that I pay on time every month. The high on it was about 34k. Basically, I want to have enough credit and a good enough score by this summer to trade up from my corvette z06 to a porsche 911. I have the income, but I need to get up from the 5's and 600's scores.

Do you think paying all the balances off on the cards and removing most of the inquiries will do this?

[Anonymous]

Are the inquiries legit?

Paying down your balances will give some points. You want less than half your revolving TL reporting a balance and overall and individual util between 1-9%.

What other negative factors do you have? Collections, Charge offs, late payments?

[Anonymous]

I have nothing negative on my credit at all... NOTHING. The credit card balances are just maxed out, and the inquiries I am disputing are not legit. The other issue is that all my accounts are about 7 months old. I really want that 911 though for next summer, and I know Porsche financial and my credit union will do it with about a year of good payments on my current 34k loan on my corvette.

[Anonymous]

opps, solution not solved BTW

[Anonymous]

You will see some gain by those accounts turning a year old and the associated inquiries for the accounts will no longer effect your score after 1 year.

It appears that all these new accounts are part of what is keeping your score down, plus the CC balances.

[Anonymous]

Think I could be at 700 or above at the year mark? I just got a check for all the money I need to pay off all the credit cards. I will keep a few bucks on them to show 1-3%UTL but other than that I am not using them anymore or if I do PIF each month.

BTW I am rpmmotorsprts850, just on my dads computer.

Message Edited by autoloangenius1900 on 12-06-2008 08:48 PM

[Anonymous]

I don't know that you'll reach the 700 mark within the next 6 months or so, but anything is possible.

[Junejer]

Try leaving 1-3% utl only on one card and pay the others to zero. Use the cards and PIF. Try rotating a different one each month and PIF and allow the others to remain at zero. You might get there or close. I would never underestimate the power of proper util will do.