Im so close...opinions needed!

[maiden_girl]

That is very odd! Definitely call them and yell at them!! Keep us posted!

[kkehler1]

maiden_girl,

I will definately get on this and update the forum. My goal / need is to get my mid score to 700-720 for the lender.

After seeing your signature show that you have WAY more credit than I currently have and in the upper 600's, im kinda depressed =(

For the record, my current score is EQ 645, TRU 596

I believe TRU is because its currently reporting 2 collections that have been deleted in the last week, but not updated on my report, and EQ is only reporting 1 collection that has been removed but not updated yet.

I can only hope that these late removals will get me enough increase to get there... We'll see...

Disclosure:

15 Total Accounts

0 Current Installment Loans

3 Closed Installment (no negatives)

4 Open CC (1.3K, 2K, 2,5K, 15K (authorized user))

6 Inquires

I dont feel so hot right now!!

[guiness56]

You might try to get a small installment loan with your bank or CU.  Keep it open and make ontime payments for a year or so.  It will help with credit mix.

[kkehler1]

If I were to get an installment, it would probably take some time before it had an real positive impact on my score right? It certainly would show a good credit mix though. The other problem I face right now is my lack of credit in general. For the home loan, I qualify on income but only have 5800 in credit personally and a 15K authorized user. They dont like that too much, but at 700 score, they seem to be ok. Do you think an installment could positively impact my score in say 60 days? Im already at 6 inquiries, whats 1 more LOL.... 

[guiness56]

An installment would help with credit mix.  That is 10% of the FICO score.

Are you applying for a mortgage in 60 days?  If so I wouldn't try.  It is usually not good to apply for credit 6 months before applying for a mortgage.

[kkehler1]

Unfortunately, they have already started the process. They pulled credit already and started the app. My broker is telling me the only thing that tells me the only thing holding me back right now is a sub 700 score. I have two brokers actually working on this, so its probably best not to apply for any more credit now then. If they can get it approved with my current credit mix (if i can get to 700) then I'll be ok. But we'll see when it comes to the commitment letter....

I certainly jumped the gun a bit, but the house Im trying to get is perfect for my family.

[guiness56]

I was re-reading the thread and noticed you let your CC report a 0 balance.  For the best boost, let all but one report 0 and the other at 9% or below.  If you only have one CC let it report at 9% or below.  YMMV so you can tinker with the %.  And FICO has no memory of utilization.  It is scored based on what is reported the day you get your score.

FICO likes to see you use your credit but wisely.

[kkehler1]

Funny, I did the same thing...reread the thread and just saw a comment about that as well. I will keep 3 cards at a $0 balance and 1 under 9%. Does it make a difference if the card under 9% is the authorized user card? I have paid off all of mine that are individual, but the authorized user card would have a low balance.

[kkehler1]

One more thing...

Should I also send a letter to the bureaus about the late payment reporting 2 years after closing the account? Aren't they the ones that remove those after 7 years?

[guiness56]

Yes, the CRAs remove lates after 7 years but if the OC reported those lates it is up to them to have them removed.

And no, the AU card is fine to have report as 9% or below.