@Anonymous wrote:
Ok u guys I need help once again bcuz have been a big help. So I'm trying to buy a house and I finally had the lender pull my score again today she told me I need 2 more points! My score is 658 638 630 now can anyone tell me what's the best way to make those 2 points go up? I need a, middle score of 640! My credit cards are at 108 & 56 should I change anything?
What's the utilization on those 2 cards? Lowering overall and individual account utilization is a very fast way of helping your score.
Everyone's situation is different and there is no one size fits all approach to this but what seems to work well for most people is to have only one of their cards report a small (<9% of it's credit limit) balance each month and then pay in full before the due date. You can use it as much as you want during the month but what's important is the reported balance because for most cards whatever is reported on the monthly statement is what is used to calculate utilization for the month.
You might have to play around with the percentages for a few months to see what works best for you. Some people say that 1-3% utilization helps the most. For others it might be 5-9%. As I said it's not one size fits all.
On any other cards always try and have them report a zero balance each month. That doesn't mean you can't use them just make sure that the desired zero balance on these accounts is achieved several days before their statements post.
Along with individual and overall utilization, FICO also scores the number of all types of accounts reporting a balance.at any one time Making sure less than half of all your accounts report a balance helps most people.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
