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No Baddies.. Low UTI%... Now What?? *** NEW QUESTION ABOUT GW LETTERS***

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CEOriginal
Contributor

No Baddies.. Low UTI%... Now What?? *** NEW QUESTION ABOUT GW LETTERS***

Hello all!

 

I'm currently rebuilding my credit. As far as I know from FAKO sites, all 3 scores are low-to-mid 600. I do know that my EX FICO is 667. All of the baddies on my account have either been deleted or paid in full/settled. 

 

I currently have three CCs, two with Capital One.... One was with Orchard Bank but they got sold to Cap One.. both with CL of $300. Despite perfect payment history, Cap One has refused an increase a couple of times. The other is with Barclays.. $2000 CL. 

 

I have an auto loan that I'm about halfway done with, but I'm selling my car at the end of the summer, so that account will be closed soon.

 

My student loans are currently in deferment. 

 

Sooooo... How can I ACTIVELY increase my FICO scores?? Any suggestions?

 



Scores as of 7/28/13: EX.683   TU.688   EQ.???
Message 1 of 9
8 REPLIES 8
guiness56
Epic Contributor

Re: No Baddies.. Low UTI%... Now What??

You didn't mention utilization.  Let all but one card report a 0 balance and the other at 9% or below.

 

For the baddies that are paid, send out GW letters and ask for them to remove them.

Message 2 of 9
madmann26
Valued Contributor

Re: No Baddies.. Low UTI%... Now What??

What is your AAoA? If you don't have an installment loan, your credit score could take a hit because of the lack of credit mix. Something to think about and YMMV as always.

Current FICO 9 Scores



Message 3 of 9
CEOriginal
Contributor

Re: No Baddies.. Low UTI%... Now What??


@guiness56 wrote:

You didn't mention utilization.  Let all but one card report a 0 balance and the other at 9% or below.

 

For the baddies that are paid, send out GW letters and ask for them to remove them.


Right now utilization is about 30%... Will be paid down by the end of May.

 

I'm guessing I can do a simple Google search for a GW template...?



Scores as of 7/28/13: EX.683   TU.688   EQ.???
Message 4 of 9
CEOriginal
Contributor

Re: No Baddies.. Low UTI%... Now What??


@madmann26 wrote:
What is your AAoA? If you don't have an installment loan, your credit score could take a hit because of the lack of credit mix. Something to think about and YMMV as always.

Appreciate the response. AAoA is close to 4 years right now. I've had my car loan for about 2 years, but I'll be moving to a new city where my car won't be needed. Instead of paying $300 per month for it to just sit around (plus parking fees and such), I pretty much have no other option but to take that hit to my score. But that won't be until August. 



Scores as of 7/28/13: EX.683   TU.688   EQ.???
Message 5 of 9
webhopper
Moderator Emeritus

Re: No Baddies.. Low UTI%... Now What??

Hi and welcome to the forum!

There is a stickies thread in the rebuilding forum with some great examples...
Here is the link

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 6 of 9
guiness56
Epic Contributor

Re: No Baddies.. Low UTI%... Now What??


@CEOriginal wrote:

@guiness56 wrote:

You didn't mention utilization.  Let all but one card report a 0 balance and the other at 9% or below.

 

For the baddies that are paid, send out GW letters and ask for them to remove them.


Right now utilization is about 30%... Will be paid down by the end of May.

 

I'm guessing I can do a simple Google search for a GW template...?


Look in my signature for the Other Thread sticky.  There is a GW sample there.

Message 7 of 9
CEOriginal
Contributor

Re: No Baddies.. Low UTI%... Now What??

I was constructing my GW letter and I though to myself...

 

I'm going to send this GW letter to Cap One about an account that was sent to collections then settled (NOT PIF). This is the same Cap One that I went crawling back to two years ago in order to build my credit back, the same Cap One that took me in .. albeit with a meager $300 CL ... AND, the same Cap One that just gave me a CLI up to $1800 after a very healthy relationship over the past 18 months.

 

If I send them this GW letter, will that have any bearing on our new relationship?



Scores as of 7/28/13: EX.683   TU.688   EQ.???
Message 8 of 9
guiness56
Epic Contributor

Re: No Baddies.. Low UTI%... Now What??

No.  I don't see why.  They already extended you credit again with a settlement.

Message 9 of 9
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