Comments on: Repairing a Damaged 570 Credit Score All the Way up to 820! https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/ Money | Minimalism | Mohawks Sun, 29 May 2022 20:44:05 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Nova https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-322798 Fri, 26 Mar 2021 13:42:40 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-322798 In reply to Otis Rogers.

What do you mean 3%???

]]> By: Keith https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-317972 Fri, 08 Jan 2021 14:37:18 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-317972 In reply to Dividend Power.

This is a really good point. FICO puts everyone in “buckets”…i.e. how many lines of credit, what type of credit, balance, payment history…etc. And then your score is dictated by how all the other people in your “buckets” are likely to behave. For example: You have CC with a $5k limit, and you carry a $4,800 balance. Even if you always pay on time, and never miss a payment your score will STILL be dinged because similar people in that “high balance bucket” WILL miss payments – so now you are associated with them and your score is penalized. To Dividend Powers point, this is all so the bank can predict who is going to default. So, like my mom always said, be careful who you associate with.

]]> By: Keith https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-317971 Fri, 08 Jan 2021 14:25:54 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-317971 In reply to Jason Babcock.

Sorry Jason – I didn’t work with anyone to improve my score. But i’m sure the same rules apply with or without help – stick to a budget and pay your bills on time. Easier said than done!

]]> By: Dividend Power https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-317433 Thu, 31 Dec 2020 14:26:11 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-317433 Good story. What most people don’t realize is the the FICO score is for lenders to determine if you are a good person to lend to.

]]> By: mary pgi https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-317385 Wed, 30 Dec 2020 14:02:01 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-317385 I totally agree. really inspiring story. thank you for sharing your knowledge!

]]> By: Joel https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-316921 Tue, 22 Dec 2020 01:30:05 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-316921 In reply to J.

That’s great J. I do agree that raising existing limits is a good way to modify the utilization. Some companies will do this without triggering new queries on your credit report and making you have a stronger score. Thanks for sharing! One thing’s for sure – building credit takes time and patience.

]]> By: J https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-316907 Mon, 21 Dec 2020 20:14:49 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-316907 This was a good story to highlight during this time period. I’m glad Keith could share his story for those who are in a similar position as he was in 2009. While I have not ever had a bad credit score, it was really hard to get my financial footing established back in 2001-2005 with no credit and a parent with REALLY bad credit. The college I went to was one of the few that wouldn’t really allow credit card companies to come on campus, either (that was for the best). I was eventually able to get a very low limit card ($500) from BOA after my boyfriend (now husband) added me as an authorized user to his credit card that he had for a few years. Once I had my foot in the credit door I decided to figure out how credit scores were determined so I wouldn’t have to fight so hard in the future. I wasn’t in the habit of spending money I didn’t have, so I would purposely make a purchase I was already planning on once I already had the money in my account using the new credit card. Then I would pay for that purchase in full. After about a year of that I would call up the company to ask to have my credit limit raised. That helped bring up my utilization score so that I could eventually be approved for other lines of credit it I needed or wanted them. I was able to get my score up into the 820-830 range over time.

]]> By: Keith https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-316900 Mon, 21 Dec 2020 16:36:10 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-316900 In reply to Simone | our intentional farm.

Thanks Simone!

]]> By: Keith https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-316899 Mon, 21 Dec 2020 16:34:53 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-316899 In reply to LENA.

Hi LENA-

I just waited for any issues to drop off. I didn’t really have a target timeline back then, I just started paying on time and waited for my score to improve. I don’t have exact dates, but I know that my credit was into the mid 700 by 2012. So two years later I had better scores. It goes faster than you think.

]]> By: Fico nudge https://eliteedgemoney.com/repairing-a-damaged-570-credit-score-all-the-way-up-to-820/#comment-316869 Mon, 21 Dec 2020 05:36:17 +0000 https://staging.eliteedgemoney.com/?p=63509#comment-316869 What an inspiring story!!! Great work!!
I am very curious about your original idea for this post. How to get to that 850. I am at 813 and it won’t budge! It’s not like I really need an 850 but I would love it. What are some tips at that point? Funny note my husband and I are house shopping and he got dinged for not having a mortgage! Come on FICO! We’re trying just need the right one!

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