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How much will my FICO score increase?

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How much will my FICO score increase?



I'm hoping someone could help me...


My initial goal was to increase my FICO score by 10-15 points in a year.  I don’t have a lot of credit history built up and I made some mistakes when I was 17 or 18 so at the time the median score was about 630 or so.  I moved and bought furniture and long story short, the furniture store gave me a credit line and maxed it out so my score didn’t budge for a couple of months since maxed out credit line = bad. 


I recently paid the furniture store credit card from 43% to 13% a few weeks ago.  This is the only account/credit line that was over 20%.  My other accounts include a car loan from Toyota, a student credit card ($1000) (I keep balance at 10-15% of the credit limit), some store credit card ($1000) I got years ago but have since paid down to $0 and stopped using but the account is still open, and one secured credit card ($300) that I got to help increase my credit worthiness and I only use it to pay one utility bill a month and it’s on autopay.  I'm 24 years old and a college student and I'm not deathly afraid of credit cards so I avoid using them as much as possible.  So, this furniture card was the only significant debt I had…excluding the car loan which I was told doesn’t count negatively against me.  I have no open delinquencies or open accounts in collections. 


I really just need 8 more points.  I’d like my median score to be 640.  Does anyone have any idea roughly how many points it could go up in this scenario?



Message 1 of 2
Moderator Emeritus

Re: How much will my FICO score increase?



Paying the one CC alone down to 13% probably won't produce the points, but if you can get all CCs to report $0 except for one and get the one to report a balance of under 9% of the CL, then you'll find the points you need and then some.

Message 2 of 2
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