Posted by Kenneth Hocking on May 07, 2008 at 07:26:16:
In Reply to: Frustrated with FICO Scores posted by Tamia (VA) on May 06, 2008 at 09:12:11:
The forum above will help you become aware of the scoring on the Credit bureaus.
One thought. If you can keep or spread your credit card balnces around so that your balances stay at 50% or less of the availbility on each card then your score should improve quickly.
I have seen teams ( brothers) who have teamed up to spread the balances vis those credit card checks for transfers from one brother to the other so the score would rise for the first brother . Brother one then applied for aditional cards with his higher credit score and lower balances and transferred back the balances from brother 2 ...keeping the 50% ratio in mind they reported it worked very well
NOTE be careful of Home depot and Lowes Credit cards they at times will report your balance as a High limit and this will mess with your socring very quickly.. They may have fixed this now not sure but onetime about 5 years ago I pulled my credit and both my lowes and home depot reported balance of 3500 and limit of 3500 and 3200 balnce and 3200 limit respectively, when my paperwork showed 5800 limits on one and 6500 on the other but this was 5 years ago I quit using their cards and my scores went up almost immediately.
Creditboards dot com rocks for score related issues