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- May 25, 2011 at 2:53 am #220275
I am currently wanting to buy a house this year and am desperately trying to raise my median score. I checked last month and my three scores were 637, 651 and 680. I made all payments on time as usual and then just rechecked my scores…they went down. My scores are now 644, 644 and 664.
Last summer I looked into getting a mortgage and when my credit scores were pulled, they were ok. My median was over 680. The credit union lost my credit and had to repull it the following week, which crossed over into the first week of August. My score dropped over 30 points…the researched and found out it was due to that personal loan I took out. I thought the loan would be ok, since my car was paid off, all credit cards were paid off and i was debt free, so I took out the small person loan of $3000, which since july has now been paid down to $1200.
The only debt I have is about $1200 on the personal loan, which I currently make double payments on monthly. ($215 total) My credit cards do not carry balances on them, I usually try to use them a few times a year and then pay them off at the statements end, just to keep the cards active. I cannot understand why my score is going down. My debt/income ratio has to be decent. The amount I have charged compared to available credit has to also be good, so I am at a loss as to what to do. It’s becoming really frustrating because it seems like the score drops for no reason, and I really need to get that median up to 680+. My fiance, has over $15000 in debt, mostly on credit cards, and yet his 3 scores average over 700. So what, do I need to go charge some stuff on my cards in order to increase my score?
When I use my cards, they are often for very small purchases, usually no more then $100. Then, I pay them off in full on the due date. This only occurs a few times a year. Should I use them more often and if so, how many at a time should I use? For example, I have 5 credit cards available to me, should I put a small balance on each of them? Or a small balance on maybe 2 at a time?
Wait…so not all credit scores are equal? I thought when I pulled my credit score, it was my FICO score? I usually just go to one of those websites to get my scores done. Are these credit scores NOT my FICO scores?
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