Credit Card Utilization

Feb 112011
 

Good morning,

 

I have 5 credit cards that I plan on paying off over the next two months.  I am however trying to increase my scores as quickly as possible and was wondering what makes more sense in seeing the highest score improvement.  I have $900 to use towards payments for this month and was wondering does it make sense to pay off one credit card or two cards (the two together total $900)? 

 

If there is a better method for tackling the ulitization issue please share. 

Credit Card Balances

Jan 312011
 

I just have a quick question. Over the last two years my husband and I have raised both of our score from 430 to between 614 and 638. We each have a couple of credit cards and each have a Military Star card with a balance around $2000 of a $2500 and $3000 limit. We plan on paying these off within the next couple of months. Anyone have any idea how paying these off would impact our scores? About how many points? I would also love any information or success stories on GW deletions. Thanks a ton in advance!

New To Board Need to Rebuild To Buy Home March 2011

Nov 062010
 

New to the board and newly committed to rebuilding my credit.

 

I have several credit issues I am on track to resolving. The major ones have been student loans. I recently got all of my loans back on a current payment status.

 

I have 3 collection accounts totaling about $200. I plan on paying these off.

 

What kind of score increase can I reasonably expect between now and January? Assuming I pay off the collection accounts and keep the student loans current?

 

I have been reading the boards and noticed that 620 seems to be the lowest score to secure a mortgage. I don’t have any open credit cards, auto loans, or store cards. (I can’t get approved for any)

 

Experian – 575

Transunion – 587

Equifax – 579

 

Judgment help needed

Apr 252010
 

My current FICO score is a low 580. I would like to see my score boosted to at least a 620 by the end of year 2010. I hope to start by paying off all of my little collections that are $500 and below. Then I plan on paying all of my judgements off while simultaneously paying down all of my accounts to half the credit limit. I’m totally open to suggestions. I’ve never had a good FICO score and would like to change this. I currently have jugements on my credit that were done while I was out to sea during my Navy deployment. I’m wondering if anyone knows how to get judgements off your credit report. I also have one judgement from where I went in on a lease with someone and I payed my half but the other party didn’t pay their half of the rent. Even though I held up to my end of the bargain, because I was in the military at the time and they could easily find me, they came after me instead of him. Right now I’m just willing to do whatever it takes to get my FICO score to where it needs to be. My end goal is to have a 720 score. Please help.

best payment allocation.

Jan 302010
 

I will shortly be getting a 5k bonus from work and plan on paying down some credit cards! heres what I have

 

Citi: 13,800 @ 7.24%V

Cap1: 1,495 @ 1.99% for life (least of my worries)

Toyota: 400.00 @ 0% until April, then like 15.99% I believe

Chase: 6,800 @ 6.25% V

Discover: 2180 @ 13.24% V

HSBC: 837.00 @ 15.99V

 

what is the best allocation of the money? I know i want to pay off discover, but with all the crap Chase has been pulling lately I don’t know if I should just focus on that? should I clear out the discover, HSBC, toyota? I’m looking for the best fico score scenario I guess. Overall util is about 40%