Understanding FICO 5,4,2

[Anonymous]

Hello, 

I'm trying to figure out how to quickly raise my Mortgage FICO 5,4,2 and I don't understand how to do that. Here are my current stats:

• I'm currently following AZEO,
• Utilization on my 1 CC is under 8%
• have an available credit line of ~$76,000,
• am an authorized user on two credit cards with both account holders having credit scores in the high 700's to low 800's
• Have Fico 8 scores of 746, 732, 727
• Fico Auto 5,4,2 scores of 714,712,703
• Fico Mortgage 5,4,2 Scores of 682, 677,672
• Vantage Scores of 824, 826
• Total debt of $19k, only in student loans
• Credit History of Oldest account: 15 years, Avg. age: 7.5 Years
• Currently no mortgage, I'm renting while we design the home I'm planning to build
• No car payments,

I do have some late payments on my history from 2-3 years ago but everything since then has been perfect payments.

Is there anything else I can do to bump up my Mortgage FICO 5,4,2 to 700+ in the next month or two?

Thanks in advance!

[Duke_Nukem]

The thing that jumps out at me immediately would be those 2 AU cards.  Do they carry a balance on those AU cards?  If so, what is the the balance vs credit limit % (UTI)?  Those may be affecting you negatively instead of positively.

If you haven't already, refer to the mortgage scoring section in the link below for some tips:

Credit Scoring Primer - Mortgage section 

[Anonymous]

Thanks for the link, I didn't know that existed! I'll check it out. 

The two AU cards are:

• $19,300 CL, No balance
• $47,500 CL, $3,838 Balance

[SouthJamaica]

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@Anonymous wrote:

Hello, 

I'm trying to figure out how to quickly raise my Mortgage FICO 5,4,2 and I don't understand how to do that. Here are my current stats:

• I'm currently following AZEO,
• Utilization on my 1 CC is under 8%
• have an available credit line of ~$76,000,
• am an authorized user on two credit cards with both account holders having credit scores in the high 700's to low 800's
• Have Fico 8 scores of 746, 732, 727
• Fico Auto 5,4,2 scores of 714,712,703
• Fico Mortgage 5,4,2 Scores of 682, 677,672
• Vantage Scores of 824, 826
• Total debt of $19k, only in student loans
• Credit History of Oldest account: 15 years, Avg. age: 7.5 Years
• Currently no mortgage, I'm renting while we design the home I'm planning to build
• No car payments,

I do have some late payments on my history from 2-3 years ago but everything since then has been perfect payments.

Is there anything else I can do to bump up my Mortgage FICO 5,4,2 to 700+ in the next month or two?

Thanks in advance!

---

I don't think so. But the passage of time is really helpful to one's mortgage scores.

[SouthJamaica]

---

@Anonymous wrote:

Hello, 

I'm trying to figure out how to quickly raise my Mortgage FICO 5,4,2 and I don't understand how to do that. Here are my current stats:

• I'm currently following AZEO,
• Utilization on my 1 CC is under 8%
• have an available credit line of ~$76,000,
• am an authorized user on two credit cards with both account holders having credit scores in the high 700's to low 800's
• Have Fico 8 scores of 746, 732, 727
• Fico Auto 5,4,2 scores of 714,712,703
• Fico Mortgage 5,4,2 Scores of 682, 677,672
• Vantage Scores of 824, 826
• Total debt of $19k, only in student loans
• Credit History of Oldest account: 15 years, Avg. age: 7.5 Years
• Currently no mortgage, I'm renting while we design the home I'm planning to build
• No car payments,

I do have some late payments on my history from 2-3 years ago but everything since then has been perfect payments.

Is there anything else I can do to bump up my Mortgage FICO 5,4,2 to 700+ in the next month or two?

Thanks in advance!

---

I don't understand how you can be practicing "AZEO" if you only have one card.

[Anonymous]

I have a couple secured cards also with zero balance and low Credit Limit. What I meant is I only have a balance on one of my CC's. 

[tacpoly]

@Anonymous   The cards you're an AU on count for AZEO when it comes to mortgage scores. So you actually have AZE2.  Apparently one vs two cards reporting balance makes a big difference in mortgage scores, so you might want to coordinate with the primary users of those AU cards. 

[Anonymous]

That's great to know! Thanks! So i should probably just keep all of my cards at 0 balance and allow the one AU card to maintain the balance? So then I'm actually practicing AZEO.

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@tacpoly wrote:

@Anonymous   The cards you're an AU on count for AZEO when it comes to mortgage scores. So you actually have AZE2.  Apparently one vs two cards reporting balance makes a big difference in mortgage scores, so you might want to coordinate with the primary users of those AU cards. 

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[SouthJamaica]

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@Anonymous wrote:

That's great to know! Thanks! So i should probably just keep all of my cards at 0 balance and allow the one AU card to maintain the balance? So then I'm actually practicing AZEO.

---

@tacpoly wrote:

@Anonymous   The cards you're an AU on count for AZEO when it comes to mortgage scores. So you actually have AZE2.  Apparently one vs two cards reporting balance makes a big difference in mortgage scores, so you might want to coordinate with the primary users of those AU cards. 

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No. Probably the best practice is to have one AU card report a balance and one of your own cards report a balance.

There  appear to be 2 different metrics: your cards, and your AU cards.

I know it sounds odd but a number of us have experienced that there are actually 2 different AZEO calculations for folks who have AU's.

[Anonymous]

Ok, that's currently what is happening. I keep like $15 on one of my CC's and one of the AU accounts Carrie's a balance but the other doesn't.