Need advice as my score is on the rebound....

[blairwilkins]

Okay so my credit score roughly at the beginning of the year was in the low 530's... I have done some major repair over the past year and I am now in the high 670's. My goal is to raise my credit score into the 700's before I purchase a house in 2009. I have 2 credit cards... One with a balance of $4,000 with a $5,000 limit and another with a $500 balance with a $1600 limit.... I did a myfico simulator and supposedly when I pay off my card with a $500 limit over the next 3 months my new score will be between 717-777.... I have requested an increase in limit for the $5,000 card to reduce my debt utilization; however does anyone know if that will improve or reduce my score??? Also does anyone have any tips... I have literally reduced my collection accounts from 7 to 2 (writing letters to companies) and I am staying on top of my payments and I have not had any within the past 2 years.... I appreciate anything and everything you can throw my way!!! I also am reading the Road to 850 by Al Bingham which is AMAZING!!!!!

[cadavis0609]

Decreasing your utilization will definitely raise your scores. Congratulations on your successes thus far. As far as tips go, I would suggest getting a store card to improve your credit mix if you don't already have one. Other than that, looks like you're on the right track.

[Tons_of_Debt]

Congrats!! Yeah, paying down the $4k balance on a 5k card will dramatically help that card's util and your overall util.