Below are my cards and current balances/limits... and what will I need to get to on the Venture One see score bumps?
Venture One $3300/$3500
QS $0/$600
WalmartVisa $0/$400
Discover $0/$1250
Best Buy MC $0/$2000
SOCU Visa &0/$1000
Target $0/$1000
Lowes $0/$1000
Kohls $0/$400
Amazon $0/$1600
Individual util is almost maxed out at 94% so it's hurting quite a bit. Since it's your only card with a balance it's not as big of a red flag as it could be so i'd suggest getting it to 68% ($2380) which should gain you a decent amount points (cannot estimate how many since util point penalties/rewards are profile dependant). From there, each threshold met/passed will offer more score increases: 48% ($1680), 28% ($980), and finally 8% ($280).
If you cannot immediately pay down to reach the 68% threshold, then at least get it to the 88% mark ( $3080) so it's out of the max territory and that should also give a couple of points - then work you way down through the lower percentages.
You'll gain points as you pass below each threshold.
Your aggregate util isn't bad at all - 27% ($3500/$12750) but you'll get a boost once you get it to 8% ($1020/$12750) or lower.
Ideal for scoring is aggragate util at/below 8% with individual at/below 28%.
Wow, thanks to both of you... I am really trying to get my scores north of 700 before I refinance my car... Utlization is the only one I can improve on my own, the others AAoA ( 9 mos), a ton of INQ (plus 10) and two accounts showing several 90 day lates (fall off in 2023) are beyond my control.. so right now have been gardening starting May 3...
Youre welcome!
@jons998877 wrote:and two accounts showing several 90 day lates (fall off in 2023)
Which lender are the two accounts with? Have you tried/considered trying Goodwill requests to have the lates removed?
@thornback wrote:Youre welcome!
@jons998877 wrote:and two accounts showing several 90 day lates (fall off in 2023)
Which lender are the two accounts with? Have you tried/considered trying Goodwill requests to have the lates removed?
I haven't in several months... Ford Credit and Navient are the two, sort of waved the white flag on both...
@jons998877 wrote:I haven't in several months... Ford Credit and Navient are the two, sort of waved the white flag on both...
Ahh... those two. I can totally see why the white flag was waved.
Will I get slight movement as the INQ age??? Or just when they fall off at 12 months???
@jons998877 wrote:Will I get slight movement as the INQ age??? Or just when they fall off at 12 months???
Inquiries don't fall off at 12 months. They become unscoreable at 12 months. They remain on your reports as a record for a full 24 months (25 months on Experian).
You don't gain points as they age to 3, 6, or 9 months. Whatever points you lost when the inquiry was incurred will be returned to you on day 365.
How many points gained for each inquiry aging to 12 months is profile dependent - so I cannot give you a ballpark. Also, there is a theory that inquiries may be "binned" -- so, for example. inquiries 1 and 2 may be binned together meaning you lost no points when inquiry 1 was made, but lost 5 points when inquiry 2 was made. So when they age to 12 months, you'll gain no points with inquiry 1 but gain back 5 points with inquiry 2. And so forth. Problem with the theory (which, in and of itself, appears to be accurate) is that we don't know the exact "binning" guidelines or whether they vary by profile. So it could be binned as inquiries 1-3, 4-5, 6-8, 9-10, or 1-2, 3-5, 6-7, 8-10, or any combination you can think of.