score sits at 573...how long?

[Anonymous]

Okay, it was 562 a couple of months ago. Main reason is high util. and 14 small collections. I went on a spree in December and opened about 6 new accounts. I have been paying down my util. and have gone from 83% to about 50% or less, but my score has not changed. I am sure it is because I took a hard hit for so many inq. and new accounts. My question is how long should it be before it goes up? I want to buy my house this year so I can get the tax credit next year. I need to get to around 620 at least and am at 573(EQ) now. Any idea?

[marty56]

If you get your util to 9% or lower on a single card and let the INQs age to 1 year, you will will get your best score boost.

[Anonymous]

Even if the other cards are at say 75% or so? Do yo uthink I can get to 620 by October?

[MsKiwi]

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@Anonymous wrote:
Even if the other cards are at say 75% or so? Do yo uthink I can get to 620 by October?

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@I think you'd get your best boost by only letting 1 or 2 of your cc's report at 9% util and the rest at a zero balance. I could be wrong but if you only have all but one @ 75%  I don't think you are going to see a 620.

[Junejer]

Groovy, I think that Marty meant to have only one single card to report a balance of 9% util or less and the rest at a $0 balance.

[Anonymous]

No....my total right now is about 50% and I am paying down each month. I just wondered if by doing this, I could hit 620 by October. I will be at least to 30% by then.

[marty56]

Have you tried the Score Simulator here?

50 points on EQ from going from 50% to 30% I dont think will happen.  Also do you have any INQs and or accounts that will be 1 year old by then.

[Anonymous]

yes. The simulator says it will happen, but I did not know how accurate that was.

[Junejer]

Depends on your bucket. In my bucket, I get 8-10 points for every 10% of utility when it crosses those necessary thresholds.

[Anonymous]

14 collections are killing ya. Doesn't matter if they're small or large - they are deal breakers.