HELP! I need a 40 point increase by next month

[Anonymous]

Here is the deal - I have been repairing my credit since Aug I need to get to 640 by next month, I got a ton of baddies removed, still have a few left 2 or more yrs old ( they not going any where until they fall off) at this point the only thing left that I have control over is my CC and auto loan payments balances which are as follows

Cap one limit - $900 reports/statement prints on the 4th of every month, last balance reported in Oct was 814 however the current statement balance is $533 ( not yet reported this month yet SLOW!)

Cap one limit- $750 reports/statement prints on the 20th of every month, last reported balance was $609 in Oct.

Car payment 48 month term (down to the last 3 mos) last balance reported $1963 in Oct - current balance $1631 (not yet reported this month yet SLOW!)

MY PLAN

Cap one limit- 750 (actual balance 747)  reports/statment prints on the 20th of every month-  Pay 670 on Nov 18th

Cap one 900 (actual balance 607) reports/statement prints on the 4th of every month-  Pay 440 on Dec 2nd

Realistically Do I have a chance for a 40 point increase???

[MarineVietVet]

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@Anonymous wrote:

Here is the deal - I have been repairing my credit since Aug I need to get to 640 by next month, I got a ton of baddies removed, still have a few left 2 or more yrs old ( they not going any where until they fall off) at this point the only thing left that I have control over is my CC and auto loan payments balances which are as follows

Cap one limit - $900 reports/statement prints on the 4th of every month, last balance reported in Oct was 814 however the current statement balance is $533 ( not yet reported this month yet SLOW!)

Cap one limit- $750 reports/statement prints on the 20th of every month, last reported balance was $609 in Oct.

Car payment 48 month term (down to the last 3 mos) last balance reported $1963 in Oct - current balance $1631 (not yet reported this month yet SLOW!)

MY PLAN

Cap one limit- 750 (actual balance 747)  reports/statment prints on the 20th of every month-  Pay 670 on Nov 18th

Cap one 900 (actual balance 607) reports/statement prints on the 4th of every month-  Pay 440 on Dec 2nd

Realistically Do I have a chance for a 40 point increase???

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The realist in me doesn't hold out much hope. 40 points is alot.

The optimist in me thinks there is always a chance.

Let us know what happens.

[Anonymous]

Same boat you are in. Need the 640 for USDA loan.

Get the balances between 11% and 30%. I went below 10%, with no other change and lost 6 points... My biggest gain was when it went below 30%.

[Anonymous]

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@MarineVietVet wrote:

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@Anonymous wrote:

Here is the deal - I have been repairing my credit since Aug I need to get to 640 by next month, I got a ton of baddies removed, still have a few left 2 or more yrs old ( they not going any where until they fall off) at this point the only thing left that I have control over is my CC and auto loan payments balances which are as follows

Cap one limit - $900 reports/statement prints on the 4th of every month, last balance reported in Oct was 814 however the current statement balance is $533 ( not yet reported this month yet SLOW!)

Cap one limit- $750 reports/statement prints on the 20th of every month, last reported balance was $609 in Oct.

Car payment 48 month term (down to the last 3 mos) last balance reported $1963 in Oct - current balance $1631 (not yet reported this month yet SLOW!)

MY PLAN

Cap one limit- 750 (actual balance 747)  reports/statment prints on the 20th of every month-  Pay 670 on Nov 18th

Cap one 900 (actual balance 607) reports/statement prints on the 4th of every month-  Pay 440 on Dec 2nd

Realistically Do I have a chance for a 40 point increase???

---

The realist in me doesn't hold out much hope. 40 points is alot.

The optimist in me thinks there is always a chance.

Let us know what happens.

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I appreicate you honesty   I lost 70 points because of my UTL i'm hoping to get 40 back lol #wishful thinking

[Anonymous]

I think that is the only thing I can afford to do, so it works out hahaha. I also had 2 collections removed since my last update.

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@Anonymous wrote:
Same boat you are in. Need the 640 for USDA loan.

Get the balances between 11% and 30%. I went below 10%, with no other change and lost 6 points... My biggest gain was when it went below 30%.

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[skigirl916]

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@Anonymous wrote:

I think that is the only thing I can afford to do, so it works out hahaha. I also had 2 collections removed since my last update.

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@Anonymous wrote:
Same boat you are in. Need the 640 for USDA loan.

Get the balances between 11% and 30%. I went below 10%, with no other change and lost 6 points... My biggest gain was when it went below 30%.

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I think you can reasonably expect at least a 10 point jump, but at best 30. And not necessarily in a month, as it depends on when things update with your lenders reports to the CRAs.

[Anonymous]

10 point is nothing when "amounts owed/utilation" is 30% of your score LOL..

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@skigirl916 wrote:

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@Anonymous wrote:

I think that is the only thing I can afford to do, so it works out hahaha. I also had 2 collections removed since my last update.

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@Anonymous wrote:
Same boat you are in. Need the 640 for USDA loan.

Get the balances between 11% and 30%. I went below 10%, with no other change and lost 6 points... My biggest gain was when it went below 30%.

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I think you can reasonably expect at least a 10 point jump, but at best 30. And not necessarily in a month, as it depends on when things update with your lenders reports to the CRAs.

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The dates they report are listed.

balance 747) reports/statment prints on the 20th of every month- Pay 670 on Nov 18th

balance 607) reports/statement prints on the 4th of every month- Pay 440 on Dec 2nd

[CreditCardDiva]

OP, it's hard to say. When I was at 34% utilzation, my FICO was 634. When I reduced it to 13% by paying off balances, it shot up to 688 - which allowed me to app like a fool (pretty succesfully) for about a week. 

[Anonymous]

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@CreditCardDiva wrote:

OP, it's hard to say. When I was at 34% utilzation, my FICO was 634. When I reduced it to 13% by paying off balances, it shot up to 688 - which allowed me to app like a fool (pretty succesfully) for about a week. 

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See that is what I want to hear just to know it's possible. I mean if it was completely unheard of then I would cry hahaha.. I like to look at my FAKO CK TU score because I know it is ALWAYS less than my lender pulled scores so if I can get to 640 there I know im really higher LOL..

Thank you for sharing

[Anonymous]

Also please note the reprort for Oct has not yet updated- it seems to be  pretty slow, I had some balances decrease and some collections removed BUT my biggest UTL reduction will be in Nov for Dec report. Bacially I will be with all the changes I can make on DEC 2nd and my report updates/ statment prints on the 4th