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I didn't do the math from your existing scores, but it gives you a general idea.
You are still getting dinged heavily at 30%, 30+ for many. Your goal is to edge out every point as possible and it might need micromanaging. Again, YMMV on your credit. I didn't study your thread but if you have time, pay the balances down then reevalulate. Pay down more as needed. You can certainly get a mortgage without hitting 740 though.
Yes, the reason for trying to get to 740 is to get a better rate for PMI. but if that means that I have to pay down CC completely I won't be able to do that.
Let's see hwo much of a chnage it will make with the payments I have made.
ok, this morning i got an alert and it seems my score dropped from 693 to 686. why?
Is paying off also effect in a score dropping? Can someone please tell me what I nee dto do to bring it above 720 in the next 2-3 months.
@tin369 wrote:ok, this morning i got an alert and it seems my score dropped from 693 to 686. why?
Did your alert give a reason?
sorry this it waht it says -
Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:
Looks like it's a score alert. It's not giving you any specific reason. If I had to guess, I'd guess utilization changes. Seven points isn't too much, but I would look for any balance increase that didn't trigger a SW alert. Even adding $1 on a $0-balanced CC can result in a score drop by that much, in some situations.
I paid down a few cards last month before the statement date, but I am not seeing any alert of the score going up. I was at around 7% or more utilozation and after paying itshoudl be under 30% but why am I not seeing any chnages.
Would it take more time before the CC reports the balances?
Usually the credit karma account also reflects the changes, but thats also not reflecting the payments and new utilizations.
Is it after 1 month of payment that the scores get updated?
@tin369 wrote:I paid down a few cards last month before the statement date, but I am not seeing any alert of the score going up. I was at around 7% or more utilozation and after paying itshoudl be under 30% but why am I not seeing any chnages.
Would it take more time before the CC reports the balances?
Usually the credit karma account also reflects the changes, but thats also not reflecting the payments and new utilizations.
Is it after 1 month of payment that the scores get updated?
CCs mostly report the balance you had on the statement date and will report that within 2-3-4-5 days from that statement date. YMMV on the CC as to when it updates. I'd suggest looking in your statements to see what the balance is and that's the balance that'll report.
Ok i got a scor watch alert showing that my score went up frm 692 to 716. How can I now go above the 720 mark.
As I beleive that the lenders will take the middle score, and I beleive the EQ is usually the lowest? correct?