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80 points in 7 months?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
New Member

80 points in 7 months?

First and foremost I apologize if some of this has been answered, which I'm sure it has. I'm perpetually busy these days and am having trouble finding specifics quickly through search.

Me and the wife are looking to get a house when our apartment lease is up in july. Problem right now is both our credit is bad. Right now I'm at a dismal 505 and she's in the 530s. We are hoping to get up to the 580 mark so we qualify for only putting 3.5% down as opposed to the 20% needed when your credit is below 580.

Right now i have 2 closed accounts, i paid off one of them on the 30th(still showed up on my december report via Credit Karma) and the other one is 440 dollars and i plan to pay that off with my first check of the new year..... No other open or closed accounts.

I think my biggest issue are the 9 hard inquiries on my report. My biggest question here is, 8 of those will be a year old before July, i have read that after a year they have no effect on credit scores, so does that mean i will see a jump in my credit score after each one hits a year or will i see no effect till they are totally wiped out after 2 years? 1 of them will be 2 years old in February, if there will be no change till after 2 years, how much can i expect to see once just that 1 gets wiped off....I have read elsewhere that people have seen jumps of 80+ after 2 expire.

The wife for whatever reason doesn't want me getting a secured credit card, so are there any other ways to help my score when its this low? I may just have to go behind her back and do it anyway.

Thanks for any and all responces. All tips are welcome.
Message 1 of 14
Regular Contributor

Re: 80 points in 7 months?

I'm still a rebuilding newbie, so take my opinion for what it's worth... As you can see from my signature, my scores went up about 60-70 points (except TU, which is slow to update), after settling and getting rid of a pretty big debt. (My baddie, a recent 90 day late, remains.)

So yeah, I think it's possible for you... But everyone's situation is different. The aging of your account, the getting things paid/settled will help, and yeah, you should get a secured card. If not that, maybe a self loan? Other more knowledgeable members can give you better advice... I wish you the best of luck!
FICO8: Nov 20, 2018:
FICO8: April 1, 2019:
Goal for December 2019: FICO 640-700
  Walmart Store Card Discover IT Cash Back
Green Dot Secured Visa! Oooooh! Discover It Cash Back

Starting Score: 539
Current Score: 650
Goal Score: 760

Take the myFICO Fitness Challenge   |   My credit recovery journal
Message 2 of 14
Established Contributor

Re: 80 points in 7 months?

First and foremost:  Where are you getting your scores from? If they are from Credit Karma, they are not your real FICO scores and you should ignore them. You can go to CreditCheckTotal dot com and get all 3 of your FICO scores for just $1. It's a 7 day trial, so be sure to cancel before the 7 days.


Secondly, I don't understand why your wife wouldn't want you to get a secured card. There is absolutely nothing wrong with getting one! They are there to help people build/rebuild their credit. I would check out either Discover, Capital One, or maybe a local credit union. Discover and Capital One both have the pre-qualify links, so test those out before you apply. The best part is, after 7ish months of responsible use, they will graduate your card to a real credit card, and return your security deposit. You don't need to give them a lot, it's usually only $200, and that would be your limit.


There is always a possibility of increasing your scores. I was able to get mine up from 580 to 700 within a year (not even a full year yet). Do you have any other derogs on your report like late payments or collections? If so, those could definitely be hurting your score. If your scores are so low just because you don't have much credit, that's an easy fix! Starting with a secured card is usually the easiest solution. I'll let some others chime in and give you more info, but that's my 2 cents for the day.

I am in the garden until next year!

Message 3 of 14
Established Contributor

Re: 80 points in 7 months?

Inquiries falling are not going to give you that much of a jump. You are missing age and credit mix from what I gather. What type of account is the one for 440? If its an installment then you have that taken care of as long as you don't pay it off. Paying it off will bring your scores down right now. You need a revolver as in a secured or a couple to fix the mix. 


I would suggest first that you get your real fico scores. You can get a trial at for a buck and it will show you where you are at now. Then post your scores and your accounts with the balances and original loan amount, then someone can help you figure out your next step.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 04/18/19:

Goal Score: 750+
Message 4 of 14
New Member

Re: 80 points in 7 months?

Thanks for all the responses so far. Per suggestion i did sign up for the trial on credit check total.

My Experian is 527, my Trans is 493, and my equifax is 516.

I have no credit used across the board.

Accounts ever late is 1 and it was .3 years ago.

11 inquiries for all but Transunion(9)

No public records.

Oldest and average length of history is 1.1 years.

The account i owe 440 on is from a clothing store.
Message 5 of 14
Established Contributor

Re: 80 points in 7 months?

Ok next step: Go to Discover or Capital One and check their pre-qualify page. See if you can get pre-qualified for a secured card. They say you get the best score boost when you have 3 open credit cards and an installment loan. It’s going to lower your AAoA, but you’ll recover in no time. My scores went down when I opened all my new accounts, but here it is 3 months later, and I’ve recovered plus gained some points.

I am in the garden until next year!

Message 6 of 14
Valued Contributor

Re: 80 points in 7 months?

If you have no cards currently, I would suggest getting a secured card for starters, an SSL is a must, as stated above, 3 revolvers and a loan will help you achieve the best score. With the close accounts, I would definitely send GW letters to see if they can be removed. If they are paid and show as closed, that would be the next step.

Scores - All bureaus 750 +/-
TCL - Est. $250K
Message 7 of 14

Re: 80 points in 7 months?

Even though you are a newbie... do you mind sharing the steps you took to get to where your scores are now? My scores are similar to what you started out with and it is amazing how your score jumped up like that. I just got the Capital One Platinum $300 SL; First Access $300 SL and Citi Secured $300 Deposit and was advised I should stop there with the CC and let time do its thing.



Message 8 of 14
New Member

Re: 80 points in 7 months?

Just so I'm clear, an SSL = Standard secure loan and a revolver is a secure credit card?

For the secured cards, I'm putting down 200 then using only 30% correct? So theoretically, for 3 cards I'm putting down 600 then paying back 180 plus interest, correct? Do i wanna pay those back in full and just ride em or what?
Message 9 of 14
New Member

Re: 80 points in 7 months?

Also, i know it was briefly touched on, but nothing's gonna happen to the 8 inquiries that go past the one year mark as far as my credit goes?
Message 10 of 14