How to raise Fico Score?

Question

I have obtained a current copy of my credit report and paid off all outstanding debts. The only thing I owe on is my truck and that is thru Chrysler. I have raised my score from 560 to 628. The last two negative items I have gotten deleted have not raised my score. Does deleting old negative accounts always raise your score or do you hit a point where it no longer helps. I now have 19 positive and 17 negative items. Any advice would help on how to continue to raise my score.

How did you get inquiries removed?

Answer 1

Deleting old negative accounts does help somewhat. Keep trying to get those negative items removed and keep your payments current on your truck. I've had up to 10 items removed and my score went up almost 100 points. Of course, I also got a ton of inquiries removed as well. I don't know if that helped or not but I've heard that it does. From my understanding anything besides positive items is detrimental to your score.

Answer 2

First, sorry, you cannot get inquires removed. They stay on there.

To answer, just keep paying off all your bills on time (including utilities). Close any accounts that you don't really need. Don't apply for more credit (this will cause an inquiry). At some point just trying to delete old negative accounts won't help anymore. But if the accounts that are negative were incorrect, you can appeal and get them corrected.

The US average is about 680. You've made a big move so far, but you have some ways to go. You can get there, just be patient and stay clean.

Answer 3

Early this year, I found a link to a website that changed my life. You must go there and read through everything and do exactly what it says in the order it says. Your credit can be perfect and you can do it all yourself.

Earlier this year I had a bankruptcy showing on all three credit reports, several collections on each one and four crappy credit cards all $1000 limits or less, all maxed out. Total credit available $5000. My FICOs averaged 650.

Now five months later, I got all bankruptcies and negatives deleted, opened several new prime credit cards with limits from $5000-$15000. Total credit available $65,000. I now pay my credit cards in full every month. I can get any loan or card I want. FICOS average 735.

Didn't cost me a dime to do this and it was actually completed within 90 days. I didn't have to pay off any of the collections either. Well, just cost the postage and the time/effort to do it but it was well worth it.

The key to improving your score is to lower utilization by paying off balances and getting more cards or higher limit cards. And yes, you can get inquiries deleted.

Answer 4

be carefull when closing accounts. closing only accounts that are relatively new. The FICO takes into consideration the average age of your accounts. Older positive accounts that are not being used will maintain a higher aging and a positive score. Even older accounts (at least seven years)that have a 30 day late could be left on the report since the delinquincey will have less of an impact on your score that could be why your score did not change.delete all collection items.

Answer 5

628 is pretty good! you're getting there. my score is 800. you may have to look at other factors in like credit usage, limits, etc. to raise your score more. I learned a lot by reading the articles at
http://www.debtsmart.com/cgi-pl/article.cgi?cmd=category&cat=Credit%20Reports&page=1

(FYI, i dont get anything for passing that along. just great articles about credit)

Jack