Need to raise score 50pts!!!!

Anonymous · ‎03-13-2016

So my current scores are as follows:
Experien: 595
Transunion: 606
Equifax: 579
My credit utilization is at 84%. My plan is to pay down all cards to at least 50% by the middle of next month. The hope is to have my middle score to at least a 640 so I can apply for a mortgage by this summer. Do you think it's possible to raise my scores by about 50 pts by paying down my cards?

darwin_wins · ‎03-13-2016

How does the rest of your credit report look like? If you can pay it down to less than 10% it might give you the boost you need.

Anonymous · ‎03-13-2016

You need to get your utilization down to atleast 20% Thats when you should get a nice boost, outside of that need to know what the rest of your credit looks like...Collections, charge offs, lates?

Need to pay everything on time or early, but it'll be tight getting up that much by summer

Anonymous · ‎03-13-2016

I have a collection account with Comcast that I just paid off last week. They said they would recall the debt from the collection agency, so I'm waiting to see what happens. Also I sent a goodwill letter to Jcpenney where I had three 30 day late payments in 2014. My husband and I also emailed a goodwill letter to credit one for an account my husband opened and I'm an authorized user on.

Anonymous · ‎03-13-2016

I had one late car payment in 2014 that I attempted to Goidwill, but they turned me down. I have an old HSBC charge off set to come off my credit report this June. I tried calling for an early exclusion twice and was denied both times stating that they were reporting correctly and that I could call the creditor to have them request it to be removed.

Anonymous · ‎03-13-2016

@Anonymous wrote:
I had one late car payment in 2014 that I attempted to Goidwill, but they turned me down. I have an old HSBC charge off set to come off my credit report this June. I tried calling for an early exclusion twice and was denied both times stating that they were reporting correctly and that I could call the creditor to have them request it to be removed. You need to be persistant with this item and you could get the 50pts you're looking for.

I had an old CO due to come off in August of this year and started calling the bureau's early last month. I had to escalate the request up into the supervisors levels. TU did it right away with a supervisor's help. The others told me NO but to call back later (I went to the 3rd tier supervisor with EX & EQ).

Here is the link to my most recent experience today and my scores jumped over 50pts within 48hrs.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Equifax-EE-of-old-CO-YAY/td-p/4495691

You may need to push a bit but be calm, request being passed off to a supervisor and explain your situation clearly. I simply said that I had been caught in the financial collapse of '08 when the baddie happened and I was trying to rebuild my credit. IT may take more than 1 try but call every couple of weeks.

Experian 855-246-9409

Equifax 866-349-5191

Trans Union 800-916-8800

Anonymous · ‎03-13-2016

Thank you skybuilder! I'll try calling again and ask to speak to a supervisor.

Anonymous · ‎03-13-2016

@Anonymous wrote:
Thank you skybuilder! I'll try calling again and ask to speak to a supervisor.

You're welcome and read the thread. You'll see that it can be done. It just happened to me!!!

Anonymous · ‎03-13-2016

I cant see a 50 pt boost from removing a CO that is only months from falling off on its own. if they kept updating the reporting then i could see a desent points apon removial. if it has not been updated and is ready to fall off id guess 15points but everyones score and situation are different. I removed a 2 year old judgement and saw 11 points through EX and 13 points through EQ. I would guess if you have mutiple baddies then it is going to be hard to get 50 points without getting several of them removed. Are those scores your fico 8 scores or your mortgage fico scores they can be very different.

Anonymous · ‎03-13-2016

@Anonymous wrote:
I cant see a 50 pt boost from removing a CO that is only months from falling off on its own. if they kept updating the reporting then i could see a desent points apon removial. if it has not been updated and is ready to fall off id guess 15points but everyones score and situation are different. I removed a 2 year old judgement and saw 11 points through EX and 13 points through EQ. I would guess if you have mutiple baddies then it is going to be hard to get 50 points without getting several of them removed. Are those scores your fico 8 scores or your mortgage fico scores they can be very different.

All I can say is that I just got (today) a 51pt hike in EQ & a 55pt hike in EX from an old, reporting Co from Cap1 (with a judgment to boot) being removed. Just to CO has now been removed and the judgment is still reporting and will be for another couple of yrs.

Again, here is the thread I put up less than an hour ago.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Equifax-EE-of-old-CO-YAY/m-p/4495781#M474874