@Anonymous wrote:Im building my credit for a mortgage my scores right now are 612, 644, and 674. What would be the best way to get my score up over 700 before next year?
IMHO the best techniques for mortgage scores are:
1. Make no credit applications, and no applications for anything that could trigger a hard pull.
2. Let one bank card report a sub-$100 balance each month, while the others report a zero balance.
Do you have any lates or derogs that are holding down your score?
Do you have high card utilization? Lowering card utilization could give you a boost.
Other members on the forum may be able to provide more detailed steps to improve your mortgage scores if you can provide more specifics on your credit profile. You need to look closely at the negative reason codes listed for the CRAs reporting 612 and 644 to see what's holding them down.
@Anonymous 3% overall utilization is great. Is that even over all cards or do you have some that are higher?
I'd do the following to try to help your mortgage scores
1) Leave one bankcard with a balance, and the rest zero. Mortgage scores are more sensitive to the number of cards with a balance
2) Maybe a goodwill letter approach might help remove some of the lates.
I've heard on this forum Mortgage scores may not be affected by negative items over 2 years old while Fico 8 would be affected by up to 7 years.