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Help Understanding Credit Score

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Kerensky18
New Member

Help Understanding Credit Score

Hello Everyone,

 

I'm wondering what I can do to continue improve my credit score as it's pretty much staying at around 600 or under.

 

I do know I have to many inquires (15) currently. I do have a bankruptcy discharged last year in May.

 

Since then I have 2 credit cards one with Capital One, the other with Credit One. I also have an 18,000 car loan with Capital One as of March and is paid as agreed (2 months.)

 

Badies include old student loans that I didn't rehabiliate before getting a consolidation loan. Everything else is current.

 

Still my score goes up and down about 10 points each month.

 

Help would be appreicated.

Message 1 of 8
7 REPLIES 7
BigBS
Senior Contributor

Re: Help Understanding Credit Score

What's your credit card utilization?  Any more on the student loans? 

Score: EQ(809) EX(819) TU(800)
INQs: EQ(7) EX(16) TU(8)
Last INQ: 13 Jul 23

Total Credit Limit - $2.0M

Message 2 of 8
spike69
Frequent Contributor

Re: Help Understanding Credit Score

Are you checking your scores on the same sites each month? They will also flex up and down based on your CC utilization.

Message 3 of 8
Kerensky18
New Member

Re: Help Understanding Credit Score

Unfortunelty the utilization is high but I'm rapidly paying it down. My scores are almost exactly the same since discharge.

 

My student loans show as negative put paid as agreed and are all reporting 0 balance except for the new consolidated loan of 17k which is being paid as agreed. No missed payments.

 

I jsut combed Transuion and Experian and see no missing information or incorrection information.

 

 

Same sites all FAKO scores. Here is my score to date.

 

July 2013 score was 543 today score is 580. CreditKarma

 

July 2013 score was 620 today score is 614. CreditSessame.

Message 4 of 8
BigBS
Senior Contributor

Re: Help Understanding Credit Score

Sounds like the 2 big scoring factors (payment history and debt level) are bringing your score down.  Reducing your utilization rate, time and GW work are probably your best friends.

Score: EQ(809) EX(819) TU(800)
INQs: EQ(7) EX(16) TU(8)
Last INQ: 13 Jul 23

Total Credit Limit - $2.0M

Message 5 of 8
Kerensky18
New Member

Re: Help Understanding Credit Score

How would GW help in this situation?

 

Thanks for your help.

Message 6 of 8
BigBS
Senior Contributor

Re: Help Understanding Credit Score


@Kerensky18 wrote:

How would GW help in this situation?

 

Thanks for your help.


Removing some of the negative items from your credit report.

Score: EQ(809) EX(819) TU(800)
INQs: EQ(7) EX(16) TU(8)
Last INQ: 13 Jul 23

Total Credit Limit - $2.0M

Message 7 of 8
Kerensky18
New Member

Re: Help Understanding Credit Score

At this time it's just multiple accounts with Sallie Mae. I'll see on the forums to see if we can get them removed/updated.

Message 8 of 8
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