Below are benchmarks for FICO 8. Scores lenders use for mortgage are EX2, TU4, EQ5; should react similarly.
Remember these aggregate utilization thresholds: 8.9%, 28.9%, 48.9%, 68.9%, 88.9%
Remember these individual utilization thresholds: 28.9%, 48.9%, 68.9%, 88.9%
If you're not crossing a threshold, you won't be getting points.
Aggregate: 10-15 points for aggregate crossing a threshold.
Individual: ~5 points points for individual crossing a threshold.
Look into AZEO Technique. All Zero Except One card reporting a small balance e.g. $5-$10. Use a bank card. Do not use a store card.
Get your CC aggregate utility at or below 8.9% for full FICO points optimization.
Scores will react positively with one revolving credit card reporting a balance.
You might want to address any derogatory you have; delinquency, charge off, collection, etc. If they are updating monthly, it'll keep your scores suppressed.
@Anonymous What available $ do you have available to allocate towards the debt?
@Anonymous wrote:@AllZero thanks for the response! Comfortably, I have about 2500 to put towards the debt. More than that and I'd be dipping into my expected down payment.
@Anonymous Would that be total for 3 months?
| Balance | Limit | Utilization | |
| Amazon/Synchrony | 500 | 6000 | 8% |
| Cap1 Savor | 1124 | 13000 | 9% |
| Cap1 Venture | 750 | 18000 | 4% |
| Discover | 4137 | 16500 | 25% |
| Fidelity/Elan | 3711 | 8000 | 46% |
| Citi | 997 | 3500 | 28% |
| Amex Cash Magnet | 6328 | 20000 | 32% |
| Penfed | 0 | 7500 | 0% |
| Amex Blue Cash | 0 | 10000 | 0% |
| BoA | 0 | 3000 | 0% |
| Total | 17547 | 102500 | 17% |
You'll need more than 2500 to break the 8.9% threshold. You will need 8424.50
@Anonymous Have you tried asking for soft pull credit limit increases on your Amazon, AmEx, BoA, Capital One, Citi, Discover cards?
Mortgage scores react better to the AZEO than pretty much any of the other versions. 2500 won't get you there, but the more of the revolvers you can get to 0, the better result you should get. If you could score a CLI on those over 30%, then it would help, but getting at least a couple of more to zero should give you a decent boost.
Assuming you don't have any baddies holding you down, then getting rid of those if possible would help the most.
@Anonymous wrote:Long time lurker, first time poster. I owe my entire credit journey to this forum and can't thank you strangers enough for all the stories and guidance over the last few years.
I'm looking to purchase a home in the next 3-4 months and I need a little help on what steps I should take to raise my mortgage scores. Currently, my mortgage scores are 665 (Eq), 684 (Trans), 685 (Ex). I'd love to get my middle score up to 700 or beyond.
Amazon/Synchrony - 500/6000 - 8%
Cap1 Savor - 1124/13000 - 9%
Cap1 Venture - 750/18000 - 4%
Discover - 4137/16500 - 25%
Fidelity/Elan - 3711/8000 - 46%
Citi - 997/3500 - 28%
Amex Cash Magnet - 6328/20000 - 32%
Penfed - 0/7500 - 0%
Amex Blue Cash - 0/10000 - 0%
BoA - 0/3000 - 0%
Overall utilization is 17%. I'm saving for the down payment and closing costs so I'm trying to get the biggest bang for my buck when paying down the credit cards.
Where should I focus my extra funds to boost my mortgage scores? Thank you in advance!
My suggestions would be:
1. First, get Amazon Synchrony, Cap 1 Venture, and Citi down to zero.
2. Then, get Fidelity down to $2240.
At that point, you should have enough points to be in the promised land.
That's $3718, but it's worth it.
