Frustrated with my credit scores

[CreditScoreChallenged]

I have been working on my credit to get my score up high enough to be able to apply for a mortgage. My score keeps dropping even though every time I get an alert it is positive. My equifax just took a a -22 point dive and a $121 decrease was reported. Last month my transition went up to 644 then took a dive 5 days later -12 and my experian went up to 651 then 5 days later took a -22 point dive. Both with no explanation. Does anyone have any insight on what may be going on? I feel like I am fighting an uphill battle.

[enjoimorenow]

Do you have high utilization? Missed payments? A lot of recent inquiries?

[Anonymous]

What does your utilization look like?

What is your overall utilization?  What is your utilization on each individual card?

Do you have any open installment loans?

What type of negative information do you have on your report?

[Anonymous]

I hear you...my TU has gone up 10 points in the last week, my EX has gone up almost 25, and EQ tanked 10. There's no rhyme or reason sometimes, but age, low util, and good payment history always help.

[CYBERSAM]

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@CreditScoreChallenged wrote:

I have been working on my credit to get my score up high enough to be able to apply for a mortgage. My score keeps dropping even though every time I get an alert it is positive. My equifax just took a a -22 point dive and a $121 decrease was reported. Last month my transition went up to 644 then took a dive 5 days later -12 and my experian went up to 651 then 5 days later took a -22 point dive. Both with no explanation. Does anyone have any insight on what may be going on? I feel like I am fighting an uphill battle.

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You apped for too many CCs so your AAoA keeping your score down.

Pay all your CCs to 0 balance and STOP apping for any CC, your score would go up to 700+ in no time!

Also what FICO score you are basing your numbers?

[Anonymous]

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@CYBERSAM wrote:

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Pay all your CCs to 0 balance

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It is important to note here that if all 0 balances report, one would take a scoring hit, typically of 14-22 points depending on profile. 

Allowing 1 card to report a small balance, $5-$10 or so is the best way to maximize the utilization piece of scoring.

[CreditScoreChallenged]

I have 2 collections, both over 2 years old. I have 3 negative accounts, all over 4 years old. My utilization is high and have been paying it down. Don't know exactly where it it at right now but it is under 58%. I have paid down 1 of my cards to 48% and am paying off 2 of my cards that is not accounted for in the 58%. I really don't know what it could be but I hope it rebounds soon.

[DollyLama]

Utilization is way too high on the cards. Best to pay as much as you can and target to get all cards to zero, except for one, let that one carry a balance of less than 9 percent of it's total credit line.  Next step would be to work on getting the negatives and collections removed. Things you can do now for the quickest boost is pay those CCs down. Do you have a particular goal, ie. buy a house in 2018? new car? or just have good scores for future credit?  It may take some time, and discipline. 

[Anonymous]

50+ percent utilization is extremely high and considered "poor" by most.  Excellent is anything 9% or less, Good is 29% or less and anything 30%+ is a cause for concern.  50%+ represents significant risk and risk that is going to prevent anyone that's trying to improve their scores from being happy with the progress they see.

[Anonymous]

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@CreditScoreChallenged wrote:

I have 2 collections, both over 2 years old. I have 3 negative accounts, all over 4 years old. My utilization is high and have been paying it down. Don't know exactly where it it at right now but it is under 58%. I have paid down 1 of my cards to 48% and am paying off 2 of my cards that is not accounted for in the 58%. I really don't know what it could be but I hope it rebounds soon.

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Possible a collections account updated.