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Credit Help

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Anonymous
Not applicable

Credit Help

Myfico scores. Exp 623, TU 619, Equifax 623. I now have 14 open accounts opened Recently, 3 major CC and 11 Store cards. Just refinanced my truck. Keeping all balances under below 10% with pif every month. How long will it take to bring my score to 800.
Message 1 of 15
14 REPLIES 14
NRB525
Super Contributor

Re: Credit Help

Welcome to the forums.

 

How long have you had the 3 credit cards? (the store cards help a little, should not be ignored, but the CC are more central to your long-term plans)

What are the negatives holding your score down? Low 600's implies some sort of lates, charge offs, other derogatories. The timing of how long those remain on your file would be the clock that controls how your scores rise.

 

When was your last INQ and HP? The fading of that will have some influence.

 

Continue to make all payments on time, and keep utilization under control, and your scores will rise gradually, then jump and continue to increase after the baddies drop off.

 

Getting to 800 takes years, so your file needs to age with positives (and virtually no negatives) to get there.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 2 of 15
Anonymous
Not applicable

Re: Credit Help

Cards and truck refinanced, gained over the past 2 months. Average credit offered 500 to 1000.
Message 3 of 15
Anonymous
Not applicable

Re: Credit Help

I've got 22 hp on TU, 28 hp on EQ, 15 on Exp, all done past 2 months but I'm still getting approvals
Message 4 of 15
redbeard
Frequent Contributor

Re: Credit Help

If you want to get to 800, you are going to have to stop applying for more stuff and let what you have age a bit.

You have more than enough cards, in fact, it might be better to close a few (depending on what you have), but you need to grow some account age and let the inquiries fall off.

Also, based on your score, something else is going on as well. That will need to age a bit, probably fall off.

Dan
Just trying to get my scores to rise from the dead......

Wait.... I think I just heard a heartbeat!

Message 5 of 15
NRB525
Super Contributor

Re: Credit Help

Which CC do you have? Are they getting $500 to $1,000 approvals? Those are starter limits, not much of a positive, more of a starting point, basic credit. You need to let them age, stop apping for a while, build your file and then reconsider what you need to app for in about a year.

 

No more store cards. doesn't matter what store card, "approvals" or not, you've got too many Smiley Happy

 

and tell us about those negatives as well please.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 6 of 15
Anonymous
Not applicable

Re: Credit Help

2 cap 1 cards 1k, and 500. 1 Credit union Visa, Walmart 500, Khols 300, Amazon 600, Pier 1 1000, Finger Hut 600, Home Depot 500, Firestone 800, American Eagle 150, Marathon 250, Victoria Secret 350, Goodys 350.
Message 7 of 15
Anonymous
Not applicable

Re: Credit Help

1 baddie cap 1, 1 baddie credit one Bank, 1 baddie Gecrb. 1 baddie tax due to drop off in August
Message 8 of 15
Anonymous
Not applicable

Re: Credit Help

The credit union Visa 500. So far they are boosting my score as they are added.
Message 9 of 15
Anonymous
Not applicable

Re: Credit Help

The plan is to get to 800, then start closing accounts 1 by 1 till every 6 months with lowest limit,
Message 10 of 15
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