what to do to make it to 750-800

[Anonymous]

Go ahead and dispute ALL the inquiries with all three bureaus. Some if not all will come off. They have no way of verifying that the inquies aren't fraudulent. You didn't apply for "that" credit ....right lol

[Anonymous]

TO WHOM IT MY CONCERN : cAN YOU RESCERNAM WITH CARD CAN i APPLY  , i LOVE CHASE FREE DOM.

[JoshuaHolySpirit]

Garden forever? :-)))))))

[Anonymous]

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@Anonymous wrote:

Go ahead and dispute ALL the inquiries with all three bureaus. Some if not all will come off. They have no way of verifying that the inquies aren't fraudulent. You didn't apply for "that" credit ....right lol

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Wow!  That doesn't sound like the most ethical advice DA?  

To OP, paying the Citi down to 5-10 percent and time will dothe trick.  If everything else is clean in your file, you just need to allow your accounts to age a bit. 

[Anonymous]

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@joshall wrote:

Yes, OP- you do have MANY open credit card accounts!

One question though, does the total credit limit affect the credit scores as well?

Say, Person A has 5 credit cards with a total of $100k credit limit, versus, Person B has 5 credit cards with a total of $50k limit. 

Who will have the higher creit scores if there are no other variables?

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No..Thirty percent of your credit score is credit management(utilization).  This is the amount of credit used versus the available credit; the amout of an individuals' credit limit would not play a part with all things being equal.  

[Anonymous]

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@Anonymous wrote:
This fingerhut reporting to all the bureaus got my attention. I'm at 645 with a few loans but only one credit card on file. Would this really benefit me??

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My advice would be to forego the desire to get a Fingerhut card.  In fact, there is a thread in Credit Cards forum that one of the members, who is a Credit Analyst, says that get the best card available and lay off the store cards.  Look at it from this standpoint;  you get a Fingerhut card, it reports to the Credit Bureau, and initially you will take a slight hit to your scores(AAoA).  Later, as you grow your credit, you will want to run far from that card, thus closing it.  Now, that card is doing nothing for you or your credit.  The better advice is to fix the baddies that are on your credit (which I do not know what your profile looks like?) and begin to app for cards that 1) you have a fairly reasonable chance of obtaining and 2) that work for you and what you are attempting to accomplish.  In the latter case, I am now setting my credit up to app for rewards and travel cards.  

[redbeard]

By the numbers:

Credit inquiries can impact your score by around 10%.  I don't know how old your inquires are or how they are grouped, but its probably save to say you are on the higher end of losing the 10%, rather than the lower end.  The good news is, this fixes itself fairly quickly (1 year from inquiry for score impact).

So, if you figure you lose 65 of the 85 possible points for the number of inquiries you have, that puts you at 850-65=785 till the impact of the inquiries fades in a few months.

(note:  I am not sure how the number of inquiries really plays into the credit score, but based on various simulators I've used, you have hit the point of maximum score loss)

Then factor in AAoA and I assume you lose a few points here, lets say another 50, puts you around 735.

Again, this is somewhat of a guess, since I don't know what your AAoA is, but assume, as others have mentioned, its 2 years or less.

Then you have a card close to 60% of utilization bringing it the rest of the way down.  

So, the good news is, paying your card down to under 30% utilization and giving it a few months for the inquiries to age and accounts to grow will get you to where you want to be pretty easily.

The exact numbers will be different, but your score makes sense based on my assumptions.  

Dan

[cjschicki]

Your score considers much more than credit cards and inquiries.  Do you have a mortgage, for how long, any other installment loans, how old is your newest account, your oldest account?  Are there any derogitories on your report?  You can get a free credit report once a year from each reporting agency and many credit cards offer free scores and tell you why it is not higher.  You can also purchase this information from MyFICO and other places as well.  My scores just hit the 800 mark last month according to my credit card companies.  WAY TO GO MyFICO!  Last year my scores plummeted from arround 785 to under 720 because of a bogus derogatory of only $100.  I disputed the report and it dissapeared.  I think these bogus companies figure that you would just rather pay the $100 than go through the trouble, because maybe there was something that you forgot about.  Check your reports and dispute anything that might look funny, I even had a hard inquiry that I had not given permission for and that is 5 points for 2 years.

[09Lexie]

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@Anonymous wrote:

Go ahead and dispute ALL the inquiries with all three bureaus. Some if not all will come off. They have no way of verifying that the inquies aren't fraudulent. You didn't apply for "that" credit ....right lol

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Disputing valid inquiries and/or TLs is considered unethical and a violation of myFICO's TOS Guidelines. 

Lexie, myFICO Moderator

[lookingforeducation]

An interesting thing happened with the new FICO scoring system released last may. In the past if you paid an account down to $0.00 it improved your score. The problem was if you let it stay there for 2- 3 months and then left any balance on it at the end of the billing cycle the score would go down for one or two cycles then it would adjust back up. The stated reason was that you wer using a credit line you had not used in some time and therefor you may now be a higher risk. The leason is leave some amount on all cards every cycle. If you make this adjustment now you will most likely see a lower score for 2-3 cycles but then if they have not made a change it should go back up and beyond were you where when you started this as long as there are not other changes to lower the score. That has been my experience. The most interesting change made in may is that as soon as you let the accounts go to $0.00 it lowers your score. Here is how this was found out. In nov 13 Chase made a change to their reporting. Previously they only reported once a month at the end of the cycle. Now if at any point during the month you bring the amount sown to $0.00 they immediately send an update to the credit agencies. Not sure of the reason for the change but my guess is if some one is doing a rapid rescore for a mortgage Chase no longer needs to provide the person with a letter of an account balance of $0.00 since they have already reported the updated info. In June of last year I brough my chase account down to $0.00 3 days after the close of the cycle. They had alread reported and I saw it on Score Watch. There was a small balance left and my score did not change. The next day after I paid the account to $0.00 chase had reported the new $0.00 balance and my score dropped by 4 points on all 3 reports. This was the only change to the account. The leason learned is you need to test out various things and watch how it effects your scoure. Last item, it my understanding that if all the inquires were for a car loan and all within 45 days it will be adjuest by FICO to a single inquire for scoring purposes.