Please help me hit 790+ asap

[ss98]

Hi All,

Current FICO (8) is 732, I have to hit 790+ asap to get the best refinance rate (FYI, current FICO (3) is 744 - not sure which one matters for best rates)

No auto or student loan other than a mortgage, no missed payment

I have put down my payments in bold below that's yet to be reflected in credit score

Aggregate Utilization : 26% - New utilzation 17.78%

10 out of 19 cards have 0 balance

Card 1 :  38% utilzation - paid off 

Card 2:  64% utilzation - paid off 

Card 3:  29% utilzation - paid off 

Card 4:  1% utilzation -   paid off 

Card 5: 79% utilzation - 48% utilization after payment

Card 6: 79% utilzation - 64.8% utilization after payment 

Card 7: 45% utilzation

Card 8: 11% utilzation (however it increased to 27% as of now as this is the one I'm currently using)

Card 9: 12% utilzation

Based on this, could you guys suggest which ones I should work on now if those recent payoffs don't get me the boost I need? All the cards with balances have 0 apr.

Thanks!

[GZG]

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@ss98 wrote:

Hi All,

Curren FICO (8) is 732, I have to hit 790+ asap to get the best refinance rate

No auto or student loan other than a mortgage, no missed payment

Aggregate Utilization : 26%

10 out 19 cards have 0 balance

Card 1 :  38% utilzation - just paid off - not reflected in my score yet

Card 2:  64% utilzation - just paid off - not reflected in my score yet

Card 3:  29% utilzation - just paid off - not reflected in my score yet

Card 4:  1% utilzation - just paid off - not reflected in my score yet

Card 5: 79% utilzation

Card 6: 79% utilzatoin

Card 7: 45% utilzation

Card 8: 11% utilzation (however it increased to 27% as of now as this is the one I'm currently using)

Card 9: 12% utilzation

Based on this, could you guys propose which ones I should work on now if the recently paid off cards don't get me the boost I need? All the cards with balances have 0 apr offer.

Thanks!

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get cards 5 and 6 down below 48.9%, I imagine is the next step

[ss98]

GatoradeZeroGuy Thanks. Based on the recent payoffs, is it possible to guess where I'm gonna land (from 732)? As all the existing balances have 0 apr, I certainly don't want to overdo it Thanks.

[pizzadude]

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@ss98 wrote:

Based on the recent payoffs, is it possible to guess where I'm gonna land (from 732)? As all the existing balances have 0 apr, I certainly don't want to overdo it Thanks.

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Which lender is requiring you to hit 790 to get the best rates ?  This is a mortgage refi ?

[ss98]

pizzadude

   WF - yes mortgage refi. Thanks.

[CYBERSAM]

Go AZEO for couple of months, that alone should boost you 30+ points.

[RSX]

classic case of FICO OR Finances

since the lender doesn't see the 0% apr - they just see the Util % - you need to focus on the util %

since you are choosing FICO this time (makes sense) you are going to have to paydown more of the CC's even though it is 0%

i don't know how many months you have to test the scoring updates, but i would think all CCs should be below 50% to give you some better chances at the 790 goal

[CreditCuriosity]

790 seems like a weird score for best rate on refi.  Shold still be middle score right?

[ss98]

Hi All,

Thanks for your help. I have captured all the payments in bold that I have made so far. Do you think I need to do more to hit 790+?

Thank you!

[JoeRockhead]

I think your best shot at getting to where you want to be is going to be to pay down the cards that are still reporting higher UTI. 

No individual balances over 28.9% (under 9% would be better) and no more than 3 cards with a balance (only because you have so many accounts), with a targeted aggregate of under 5% will give the max points.

I don't think anyone has asked but what are the ages of your revolving accounts as there are points awarded at certain yearly thresholds as well for such things as the age of your newest revolver, average age of accounts (AAoA) reaching 7.5 years etc...