HELP!

[Anonymous]

I need help.  I am trying to get my score up ASAP and my current score is 672.  My lender is telling me that right now due to my lates (Bank of America Credit card 1 late 11/2013, BMW 4 lates in 2011, and US Dept of Ed 5 lates in 2012) my score can't get much higher.  All credit cards are below 30%.  Let me know what I can do????

[tonyjones]

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@Anonymous wrote:

I need help.  I am trying to get my score up ASAP and my current score is 672.  My lender is telling me that right now due to my lates (Bank of America Credit card 1 late 11/2013, BMW 4 lates in 2011, and US Dept of Ed 5 lates in 2012) my score can't get much higher.  All credit cards are below 30%.  Let me know what I can do????

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Lower all individual card utilization and overall utilization to 9%. You should see a ~10 point boost.

Other than that you can try to send BofA, BMW and US Dept of Ed GW letters to have them remove the lates.

[gdale6]

Pay off all revolvers except for 1 that you will let report 1-9% of its individual CL.

[NRB525]

Shouldn't we ask what the OP has for open accounts, CC, balances, limits, age of accounts, before suggesting "one card to report"?

OP: What do you have in open credit cards? balances on them? Are you paying in full or carrying balances and paying interest? Do you still have the auto loan or is that paid off?

and FWIW, I think the lender is probably right. The single biggest determinant of FICO score is payment history. Having that many lates is going to take time to get them to fade and roll off. I'm not sure there is any quick fix.