New and Learning...score up 10 pts

[Anonymous]

I've been reading the boards for a few weeks now and trying to implement some of the tips and hints found here.  One of the things that stuck with me the most was the util.  I checked my two credit cards and found that one was well under 9% while the other was close to 20% even though the balance was relatively low (about $1800).  Well after figuring out that the util was too high, I made a couple of payments to get the balance down to $500 right before the due date.  A few days ago, I received an FICO update and my score had gone up 10 points!!!

So now it's just a personal quest for me to see how high it will go.  Right now it's at 802 the highest that I've ever known for it to be.

I have 2 mortgages, one on a rental property and one on the home I live in.  I have 3 credit cards that I use monthly which balances of $500, 0, and $151 as of today.  I have no judgements, defaults or negative items on my credit history.  The only thing on my report that's not rated great is "acquiring recent credit"  - that's rated as good.

There is some great information on these boards and I for one am very grateful for the education it's giving me.  Thank you all very much for sharing your stories and personal triumps.  I keep sending my boyfriend many of the threads so he can get his score up!  Is there anyway i can help him with his score besides, paying his bills?  He has a lot of deliquencies, late payments, a bankruptcy that comes of this month, a repo that he finally paid off, etc.

Thanks

Leggylett

[MidnightVoice]

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Leggylett wrote:

I've been reading the boards for a few weeks now and trying to implement some of the tips and hints found here.  One of the things that stuck with me the most was the util.  I checked my two credit cards and found that one was well under 9% while the other was close to 20% even though the balance was relatively low (about $1800).  Well after figuring out that the util was too high, I made a couple of payments to get the balance down to $500 right before the due date.  A few days ago, I received an FICO update and my score had gone up 10 points!!!

So now it's just a personal quest for me to see how high it will go.  Right now it's at 802 the highest that I've ever known for it to be.

I have 2 mortgages, one on a rental property and one on the home I live in.  I have 3 credit cards that I use monthly which balances of $500, 0, and $151 as of today.  I have no judgements, defaults or negative items on my credit history.  The only thing on my report that's not rated great is "acquiring recent credit"  - that's rated as good.

There is some great information on these boards and I for one am very grateful for the education it's giving me.  Thank you all very much for sharing your stories and personal triumps.  I keep sending my boyfriend many of the threads so he can get his score up!  Is there anyway i can help him with his score besides, paying his bills?  He has a lot of deliquencies, late payments, a bankruptcy that comes of this month, a repo that he finally paid off, etc.

Thanks

Leggylett

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Congrats, and please hang around and tell us how things go.

As for the BF - Men are usually useless, you will probably have to pull his CRs yourself and do any possible cleaning up for him! 

[Anonymous]

Leggy.................do you mean you have 3 cc's overall, or 3 that have balances? If you have 3 cards overall, I would suggest you are a little light.  Do you have a gas and/or store card? If not, you might want to consider getting one, or two. Something about the overall mix of your cards. You'll probably take a little hit with the inquiry, but I think it will boost you another 10-16 points.

Other than that, the only thing left is to let these accounts age. How old is your credit history, and what is the age of your oldest card?

You in the high altitude country now -  little things will affect you more.  You are a 1% risk.

[Anonymous]

Hi Midnight...

Thanks for responding.  I will be around.  I've found some very valuable information here. Hopefully, I'll learn enough so that I'll be able to contribute one day.

Lett

[Anonymous]

Cobra,

I have a number of cc's but only 3 of them have the balances that I mentioned before.  I have mostly mc/v but I do have a Target card.  I never use it though.  No gas cards.  The three that I use are the ones that you earn rewards with.  One is an AMEX.

The oldest thing I could find on my credit report was from 1984...so my history is pretty long and solid.

My goal was to have $0 debt by the end of this year and that's after having about $25,000 in credit card debt last year (August 2006).  I used low interest cards and a zero interest card to do some repairs around my house and to do some other things with.  So I'm pretty excited about the possiblity of being able to start saving some money without having to spend much of it on cc debt.

I was divorced a few years ago.  I bought out the ex and took on the mortgage myself.  I think my score suffered a bit because of it.  When I started tracking my FICO it was down in the low to mid 700's.  Would the divorce have caused that? 

I did find a few errors...job titles, company, addresses that were incorrect. But I've gotten those all taken care of now.

Setting my next alert at 810.  I also need to check the other bureaus for my scores but for now, I'll enjoy the EQ moment.

Lett

[Tuscani]

Super!

Please share your success in the "Success Stories" thread!

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=27512