@Thenutisout81 wrote:current scores
Ex. 645 Fico 2
Eq. 631 Fico 5
Tu. 629 Fico 4
Credit Limits 13,100Balances. 4913
Utilization. 38%
Credit Cards/Balances/limits/ Age
-Cap one $783/$750 / 1 year now paid off not reported yet - going from maxed to $0
-CreditOne $893/$900 1 year 11 months. Paid to $393 balance not reported yet. - going from essentially maxed to 55% UTL should help. Better to bring this to $0 if you can
-Miles $281/$300 1 year 6 months paid off not reported yet. - going from essentially maxed to $0
-Ashley's $2097/$4000 5 months paid monthly payment not reported yet $1997 zero interest card. - Not clear on what you're saying here.
-Target. $464/$1300 9 months new balance $334 not reported yet. - Dropped below the 28% threshold which is good. (too late but best not to open an account within a yr of looking for a MTG. If you could wait 3 months it will help.
-Firestone $382/$3200 4 years 1 month paid off not reporting yet. - Dropped below the 8% threshold and another acct at $0 which is good.
-First Premier $12/$700 1 yr 10 months paid not reported - Another acct at $0 which is good.
-Fingerhut $0/$500 1 yr 7 months Reported as $0
-Kohl's $0/$700 9 months reported as $0 (too late but best not to open an account within a yr of looking for a MTG. If you could wait 3 months it will help.
-Comdeity $0/$750 1 yr 3 months reported as $0
At least 7/10 revolvers reporting as zero helps. As stated above, 1/10, and the 1 being below 8/99% is optimal. It is always suggested not to open new accounts within a year as accounts less than a year have a negative effect on all scores. I believe in many cases if most things remain relatively the same than you get most of the points back you lost when the new account was opened. If not you will get back the pts lost for the INQ, pplus that ages to 1 yr and no longer scorable. Age can only help.You might even get to the next tier for interest if you are in the position to wait until your <1 yr accts age to 1 year. If not, reduce revolving UTL and bring as many accounts to $0, leaving 1 with a balance.
Chapter 7 that will be discharged 2 years at the end of this month April 23rd
-Ally Financial $20,500/$28,000 4 yr 1 month
-Personal Loan $4793/$12400 9 months ago I just paid $7,000 to make the new balance of $4793 not reported yet.
-Affirm $329/$600 7 months paid off not reported ( only reports to experian)
i need to be above a 640 at the minimum but wondering what it might take to achieve a 660.
.
i only started working on the one loan because the mortgage broker I'm dealing with said it will most likely need to be gone due to my dti. I paid a big chunk down so if it does need to be paid off it will be less at that time and a lot of that is depending on where my score ends up.
Your DTI should decrease with paid off CC as long as you leave them alone. I'm not easily able to quantify score gains based on crossing these thresholds but I do believe once reported it's enough to get you to at least above 640 as that's only nor more than 12 pts. Others do this evaluation well. Hopefully they will chime in. But I have no clue the weight a bankruptcy holds on MTG scores and whether the scores would be suppressed.
Good Luck!
@Thenutisout81 wrote:Trudy
i appreciate the reply.
The one card I was talking about Ashley's I was just saying that card is on a 0% promo. I was trying to direct most of the money I was spending on this toward cards that are collecting interest first.
I wasn't planning on getting the mortgage this year but somethings changed had I known I wouldn't have had those new accounts.
Im going to try and take care of those 2 smaller balances this week before
Understood. Life happens and we make decisions 
. Sorry didn't re-read to determine which 2 you're referencing, but as long as it works to reduce the # of accounts it serves you better with MTG scores. Wishing well. Report back 
@Thenutisout81 wrote:Hello I am in the process on buying a house and I am trying to get my mortgage scores up a bit more and trying to get this most out of my scores.
current scores
Ex. 645 Fico 2
Eq. 631 Fico 5
Tu. 629 Fico 4
Credit Limits 13,100Balances. 4913
Utilization. 38%
Credit Cards/Balances/limits/ Age
-Cap one $783/$750 / 1 year now paid off not reported yet
-CreditOne $893/$900 1 year 11 months. Paid to $393 balance not reported yet.
-Miles $281/$300 1 year 6 months paid off not reported yet.
-Ashley's $2097/$4000 5 months paid monthly payment not reported yet $1997 zero interest card.
-Target. $464/$1300 9 months new balance $334 not reported yet.
-Firestone $382/$3200 4 years 1 month paid off not reporting yet.
-First Premier $12/$700 1 yr 10 months paid not reported
-Fingerhut $0/$500 1 yr 7 months Reported as $0
-Kohl's $0/$700 9 months reported as $0
-Comdeity $0/$750 1 yr 3 months reported as $0
Chapter 7 that will be discharged 2 years at the end of this month April 23rd
-Ally Financial $20,500/$28,000 4 yr 1 month
-Personal Loan $4793/$12400 9 months ago I just paid $7,000 to make the new balance of $4793 not reported yet.
-Affirm $329/$600 7 months paid off not reported ( only reports to experian)
i need to be above a 640 at the minimum but wondering what it might take to achieve a 660.
Any advice is greatly appreciated.
1. I think you will get the most mileage in your mortgage scores out of getting First Premier, Firestone, Miles, and Target to also report at zero.
2. After that, if you can, get the remaining cards to report at 28% or less of their respective limits.
If you can accomplish 1 and 2, I think you'll see a nice boost.
