700 Club

[Anonymous]

Yay I just got an alert from myfico that my EQ fico score went above 700  

I signed up for the free fico score on 10/18/11 and my score was 686 but now is 702!!! 

I gained 16 points in less than a week, I wonder what brought it up 

[llecs]

Congrats!

[Anonymous]

Thanks! Now all I need is 18 more points to reach 720 

I have a satisfied medical judgement coming off in 07/12 and I had a few collections that were removed about 2 weeks ago 

I have 10 open credit cards right now with about 50% utilization from a total credit line of $20k

I am thinking of applying for a few credit unions soon and take out a secure personal loan with my car as collateral. Also apply for a unsecure personal loan too plus a few new credit cards to increase my overall credit limit.

Do you think by 08/12 my score will be 720 or higher based on what I plan to do soon and the judgement being removed by then?

[llecs]

IMO, you won't see any benefit by adding a loan or loans. Adding new CCs would hurt more than help.

I do foresee a modest double-digit gain by paying your CCs down. I bet if you paid all of your CCs down to $0 while leaving a very small balance on one, you'd see a very nice gain when it reports.