Lets get 5 points in 3 weeks

[tooleman694]

Good news and bad news. Due to delays with Covid our home build got delayed 3 weeks. So I get three extra weeks to get back those 5 points I somehow lost.

Mortgage scores EQ 675 TU 681 EX 666

At 680 I get much better rates.

Overall util is sitting at 31 percent. My youngest account will hit 6 months on April 1st. Could I get those 5 points by taking my util down a little bit. I don't want to spend much. I just need 5 points.

CAPITAL BANK,N.A.
$0 Limit 200

CAPITAL ONE BANK USA N
$0 Limit 500

CAPITAL ONE BANK USA N
$267 Limit 750 -Util 35

CCS/FIRST SAVINGS BANK
$670 Limit 1250 -Util 53

CREDIT ONE BANK NA
$625 Limit 1450 -Util 43

CREDIT ONE BANK NA
$426 Limit 1250 -Util 34

DISCOVER FIN SVCS LLC
$0 Limit 1000

MERRICK BANK CORP
$898 Limit 1800 -Util 49

SYNCB/CARE CREDIT
$800 Limit 2000 -Util 40

SYNCB/HSN
$532 Limit 1250 -Util 42

SYNCB/QVC
$0 Limit 180

TD BANK USA/TARGETCRED
$460 Limit 1300 -Util 35

WEBBANK/DFS
$446 Limit 3500 -Util 12

[RSX]

hi

i did a calc that should help you for only $475 - pay down each of those amounts and it should make an impact

dropping below 50% on that one card might help the most

i figured hitting all of them would work, since they might all report at different times 

CAPITAL ONE BANK USA N
$267 Limit 750 -Util 35	$50
CCS/FIRST SAVINGS BANK
$670 Limit 1250 -Util 53	$50
CREDIT ONE BANK NA
$625 Limit 1450 -Util 43	$100
CREDIT ONE BANK NA
$426 Limit 1250 -Util 34	$64
DISCOVER FIN SVCS LLC
$0 Limit 1000
MERRICK BANK CORP
$898 Limit 1800 -Util 49	$50
SYNCB/CARE CREDIT
$800 Limit 2000 -Util 40	$25
SYNCB/HSN
$532 Limit 1250 -Util 42	$50
SYNCB/QVC
$0 Limit 180
TD BANK USA/TARGETCRED
$460 Limit 1300 -Util 35	$85
TOTAL paydown		474

[Anonymous]

^^^ good info. The other thing is that mortgage scores love zero balance accounts. I know you said you don't want to spend much, but if you pay some of these smaller ones off, it can have a good effect on your mortgage scores. Paying out now, even if it's more than what you consider the upper limit to what you want to spend, can save you many, many times that amount over the life of the loan. Depending on purchase price, even a half point lower on a mortgage can save you tens of thousands over 30 years. I would pay off every one of the accounts that you can pay comfortably, rather than just the minimum amount you need. 29% utilization is a known scoring factor/breakpoint for FICO8 scores but I don't know that it's as solidly reactive on mortgage scores. Paying accounts to zero is known to boost them though.

[SouthJamaica]

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@tooleman694 wrote:

Good news and bad news. Due to delays with Covid our home build got delayed 3 weeks. So I get three extra weeks to get back those 5 points I somehow lost.

Mortgage scores EQ 675 TU 681 EX 666

At 680 I get much better rates.

Overall util is sitting at 31 percent. My youngest account will hit 6 months on April 1st. Could I get those 5 points by taking my util down a little bit. I don't want to spend much. I just need 5 points.

CAPITAL BANK,N.A.
$0 Limit 200

CAPITAL ONE BANK USA N
$0 Limit 500

CAPITAL ONE BANK USA N
$267 Limit 750 -Util 35

CCS/FIRST SAVINGS BANK
$670 Limit 1250 -Util 53

CREDIT ONE BANK NA
$625 Limit 1450 -Util 43

CREDIT ONE BANK NA
$426 Limit 1250 -Util 34

DISCOVER FIN SVCS LLC
$0 Limit 1000

MERRICK BANK CORP
$898 Limit 1800 -Util 49

SYNCB/CARE CREDIT
$800 Limit 2000 -Util 40

SYNCB/HSN
$532 Limit 1250 -Util 42

SYNCB/QVC
$0 Limit 180

TD BANK USA/TARGETCRED
$460 Limit 1300 -Util 35

WEBBANK/DFS
$446 Limit 3500 -Util 12

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I agree with @Anonymous Your best shot for picking up some points quickly would be to pay off as many of your smaller accounts as possible so that they are reporting zero balances

[tooleman694]

I pulled my reports this morning. I had an old charge off fall off my EQ report.

EQ I got 10 points on my Fico 8 and 13 points on my mortgage score, taking me to 688.

Mid score is now 681. I am having my mortgage guy pull me right now.