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I need my fico score to go up 5 points. Please help!!!

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TRC_WA
Senior Contributor

Re: I need my fico score to go up 5 points. Please help!!!

I'm also in the market to buy a house... After April 2016 when my BK13 falls off my report.

Threads like this is why I am glad I am not rushing into it... It's about being patient and letting my scores rise so I can get the best deal later.  I'm expecting a 10 pt gain per the FICO Simulators when my card reports in a couple weeks after paying down my UTIL from 23% to 16%...  May even knock on the door of 700 when I pay it down to less than 5% in the next month or two.

 

On a mission...

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 11 of 12
bdhu2001
Valued Contributor

Re: I need my fico score to go up 5 points. Please help!!!


@aarono8410 wrote:
1 credit card opened 2/12 with $750 limit and a $45 balance. 3 installment accounts opened 1/13 balance $17516 opened 7/11 balance $1320(oldest account) opened 10/13 $1000 currently closed with zero balance. 9 inquires this year. 5 from a mortgage company. I just need five points.

This is a hard one.  I agree with the person who told you to pay off the $45 and request a CLI with a soft inquiry.  The problem is you only have one card.  I can't tell what your opening balances were on the installment loans.  Can you get them down to less than 20% or 30%?  I paid down all my accounts to less than 25% and paid off a couple of cards.  I got a big bump. One of the cards is a card that I use and pay off each month so when it reported a balance, I got a slight ding. 

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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Message 12 of 12
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