Any last minute suggestions?

[RW771]

Hi everyone,

I will be going back to the bank in just over 3 weeks to see if I can get pre-qualified to buy my first house! I've been working on improving my credit this past year and have really made some great improvements since June. I'm wondering if any of you have any advice on what else there is left to do so I can maximize my credit score and get the best rate available to me (and hopefully, approval this time!) Here is a snapshot of what is on my CR's.

Current scores: EQ: 624 (FICO), TU: 672 (FICO), EX: 667 (FAKO)

Equifax:

Mortgage: None

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit

Collections: 2 (1 medical, 1 other..both paid since 2007)

Negative accounts: 3 CO's all from 2007 that have been paid in full

Experian:

Mortgage: None

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit

Collections: 7 (6 medical, 1 other...all paid)

Negative accounts: 3 CO's all closed since 2007 that have been paid in full

TransUnion:

Mortgage: NOne

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit

Collections: 2 (1 medical, 1 other...both paid since 2007)

Negative accounts: 3 CO's all closed since 2007 that have been paid in full

As you can see, all 3 are reporting pretty much the exact same. The only difference is Experian is reporting 5 medical collections (all from the same company) that the other 2 are not.

I have been sending GW's out regarding all of the collections and it looks like the 2 that are on all 3 won't budge (1 medical, 1 other). I'm waiting to hear back on the 5 that are reporting only to EX and hoping they'll agree to delete. I've also been sending GW's regarding the CO's and the 3 that remain aren't budging either. I'll continue sending GW's but have come to the realization that they're not coming off until they fall off in 2013.

I just wanted to throw it all out there and see if some of you credit pro's have any further advice for me. I feel like I've hit a wall and keep messing with my CC util but it looks like this balance works best for me. Any other suggestions on what I might try? Thanks for any help!

[Anonymous]

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@RW771 wrote:

Hi everyone,

I will be going back to the bank in just over 3 weeks to see if I can get pre-qualified to buy my first house! I've been working on improving my credit this past year and have really made some great improvements since June. I'm wondering if any of you have any advice on what else there is left to do so I can maximize my credit score and get the best rate available to me (and hopefully, approval this time!) Here is a snapshot of what is on my CR's.

Current scores: EQ: 624 (FICO), TU: 672 (FICO), EX: 667 (FAKO)

Equifax:

Mortgage: None

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit (Have only 1 report a low balance, and pay the others to 0 balance)

Collections: 2 (1 medical, 1 other..both paid since 2007) (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

Negative accounts: 3 CO's all from 2007 that have been paid in full (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

Experian:

Mortgage: None

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit (Have only 1 report a low balance, and pay the others to 0 balance)

Collections: 7 (6 medical, 1 other...all paid) (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

Negative accounts: 3 CO's all closed since 2007 that have been paid in full (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

TransUnion:

Mortgage: NOne

Installments: 1 Student loan ($8500 bal. monthly pmt. $75, never late)

Revolving accounts: 2 share secured Visa cards, $4 bal/$400 limit & $4 bal/$300 limit & 1 department store card: $2 bal/$200 limit (Have only 1 report a low balance, and pay the others to 0 balance)

Collections: 2 (1 medical, 1 other...both paid since 2007) (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

Negative accounts: 3 CO's all closed since 2007 that have been paid in full (GW as you have been doing, keep trying, try to get information for someone with more authority in the company)

As you can see, all 3 are reporting pretty much the exact same. The only difference is Experian is reporting 5 medical collections (all from the same company) that the other 2 are not.

I have been sending GW's out regarding all of the collections and it looks like the 2 that are on all 3 won't budge (1 medical, 1 other). I'm waiting to hear back on the 5 that are reporting only to EX and hoping they'll agree to delete. I've also been sending GW's regarding the CO's and the 3 that remain aren't budging either. I'll continue sending GW's but have come to the realization that they're not coming off until they fall off in 2013.

I just wanted to throw it all out there and see if some of you credit pro's have any further advice for me. I feel like I've hit a wall and keep messing with my CC util but it looks like this balance works best for me. Any other suggestions on what I might try? Thanks for any help!

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Your scores have improved and should be enough to qualify, it depends more on the type of loan you are seeking. I would try paying all the revolving accounts but 1 down to zero as I stated above and see if it helps any. Since your limits are low may not have much if any of a change in scores, keep in mind that util is based on all accounts and each individual account. 

[RW771]

Thanks for your response JM-AM. I will pay 2 of the cards all the way down to a $0 balance and see if that will help.

As far as the GW's go, on 1 of the 2 collections showing on all 3 CR's, I spoke to the owner of this small CA and she told me there's no way they are going to remove it and basically told me to quit wasting my time. I thought about looking more info. up on HIPAA for this one. The other one was an old cable bill that I never received after I moved out of state and have gone round and round with the lady in charge of updating accounts on this one as well. Out of the 12 collections I initially had from a few months ago, these 2 are the only ones that remain. *Sigh*

The CO's have equally been as tough...I have called, sent letters, and even spoke to someone up at GEMB in the corporate office and they won't remove the lates on any of my accounts as well. 1 was with Walmart in which I had 3 lates, but paid off before it went to a CA. The other GEMB was an account that was CO'd and sent to CA. I successfully battled the CA and they removed their listing, but unfortunately the OC (GEMB Sam's Club) will not remove theirs. I have tried and tried getting a CEO email/contact info. and have had )% success in this :-(

Thanks again for the advice though, I'll definitely pay 2 of those cards down a bit more and see where we're at! I need a minimum 620, but was hoping to have at least a 640 across the board. Equifax is always my lowest, so hopefully we'll be using one of the other 2!

[Booner72]

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@RW771 wrote:

Thanks for your response JM-AM. I will pay 2 of the cards all the way down to a $0 balance and see if that will help.

As far as the GW's go, on 1 of the 2 collections showing on all 3 CR's, I spoke to the owner of this small CA and she told me there's no way they are going to remove it and basically told me to quit wasting my time. I thought about looking more info. up on HIPAA for this one. The other one was an old cable bill that I never received after I moved out of state and have gone round and round with the lady in charge of updating accounts on this one as well. Out of the 12 collections I initially had from a few months ago, these 2 are the only ones that remain. *Sigh*

The CO's have equally been as tough...I have called, sent letters, and even spoke to someone up at GEMB in the corporate office and they won't remove the lates on any of my accounts as well. 1 was with Walmart in which I had 3 lates, but paid off before it went to a CA. The other GEMB was an account that was CO'd and sent to CA. I successfully battled the CA and they removed their listing, but unfortunately the OC (GEMB Sam's Club) will not remove theirs. I have tried and tried getting a CEO email/contact info. and have had )% success in this :-(

Thanks again for the advice though, I'll definitely pay 2 of those cards down a bit more and see where we're at! I need a minimum 620, but was hoping to have at least a 640 across the board. Equifax is always my lowest, so hopefully we'll be using one of the other 2!

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Don't sigh!  This is great news!  You have solid scores now.  I know FICO says "not good" but I think mid 600's should definitely be called "decent."  2 collections out of 12 is amazing numbers.  The UW will easily overlook two little collections.  Twelve?  Well, maybe not so much.  Congrats!

[RW771]

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@Booner72 wrote:

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@RW771 wrote:

Thanks for your response JM-AM. I will pay 2 of the cards all the way down to a $0 balance and see if that will help.

As far as the GW's go, on 1 of the 2 collections showing on all 3 CR's, I spoke to the owner of this small CA and she told me there's no way they are going to remove it and basically told me to quit wasting my time. I thought about looking more info. up on HIPAA for this one. The other one was an old cable bill that I never received after I moved out of state and have gone round and round with the lady in charge of updating accounts on this one as well. Out of the 12 collections I initially had from a few months ago, these 2 are the only ones that remain. *Sigh*

The CO's have equally been as tough...I have called, sent letters, and even spoke to someone up at GEMB in the corporate office and they won't remove the lates on any of my accounts as well. 1 was with Walmart in which I had 3 lates, but paid off before it went to a CA. The other GEMB was an account that was CO'd and sent to CA. I successfully battled the CA and they removed their listing, but unfortunately the OC (GEMB Sam's Club) will not remove theirs. I have tried and tried getting a CEO email/contact info. and have had )% success in this :-(

Thanks again for the advice though, I'll definitely pay 2 of those cards down a bit more and see where we're at! I need a minimum 620, but was hoping to have at least a 640 across the board. Equifax is always my lowest, so hopefully we'll be using one of the other 2!

---

Don't sigh!  This is great news!  You have solid scores now.  I know FICO says "not good" but I think mid 600's should definitely be called "decent."  2 collections out of 12 is amazing numbers.  The UW will easily overlook two little collections.  Twelve?  Well, maybe not so much.  Congrats!

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Thank you! I'm definitely proud of the success I've had this far. Oh and btw, I read your long thread about when you were pushing to get to your goal score you needed...that helps keep me motivated and knowing I will get there! We've moved it up from 3 weeks to 2, so it won't be long! Just hope everything updates in time