I logged onto Credit Expert a few minutes ago and I fell off my chair. Score: 713!!! That represents a score growth of just under 300 points in 8 months of score building and error correction! For the past 9 days, Credit Expert was showing a "0" score because of what their tech people said was a glitch in the system. The latest jump of 25 points was caused by the appearance of a B of A visa AU with a 6 year history of R1 and a credit limit of $65,000, current balance $20,133. My girlfriend added me over the phone as an AU the day after Christmas. Halleluyah! I'm excited to death because all 3 CRAs are still reporting a discharged chapter 7 BK, and beacuse of hard times in the last 60 days, ALL of my credit cards (all subprime) are charged to their max. AND my address is a mail boxes etc. address that causes hawk alerts, fraud alerts, etc. First thing Wed. morning I will pay all my credit cards down to $5 balances which will certainly boost my score by another 20-40 points. My Trans Union score is looking pretty too. Hopefully in another week my Equifax score will have climbed a little more. As soon as my scores climb one more lick, and my Equifax catches up, I'll muster up the nerve to apply for those famous CitiAA cards and the Amex LOC.
I logged onto Credit Expert a few minutes ago and I fell off my chair. Score: 713!!! All 3 CRAs are still reporting a discharged chapter 7 BK --------------------------------------------------------------- This FICO stuff is so dang complicated itself which seems no one really came close to the truth about it. Herman P.S. BTW- CONGRATS Super!!
FICO may be crazy, but the system itself is predictable. There are definitely specific things you can do to tremendously boost your scores. It is definitely important to be ready though. I went into this thing prepared to maneuver the abuse of the subprime cards and I have been able to use the subprime cards to my advantage without any abuse at all. I can honestly say that aside from the hefty fees to initiate the cards I have had no problem whatsoever from Capital One, Cross Country Bank, Orchard Bank, First Premier Bank, or First National Bank of Marin. All of them helped me boost my scores. My only gripe is Cap1 that refuses to report my credit limit, only the balance. I say charge 'em to the hilt, pay 'em immediately down to $5 balance, and your score will surely skyrocket. Through this entire 8 month period of my 300 point score rise, my combined total available credit was only $2000! But now that the NextGen score is moving in, I'm sure things will get much trickier.
