Need to get scores to 640 Mid by the end of the month. HELP/ADVICE appreciated:)

Question

Hello I am writing on  behalf of my fiance as I deal with all of our finances. Basically I have worked hard to get his score up from high 400's (yes that's possible) to all reporting at or above 600. Recently his score plummeted after we opened up two new cards about 2-3 months ago and one showed up on his credit report practically maxed out. I had planned on paying it before the due date but we never got a bill it was reported with the balance before a bill was even circulated but that's a whole other issue. I am trying to recover from that currently he is at : EQU 570 Trans: 583 Exp: 567 we need a 640 to qualify for the down payment assistance program that we are in the process of trying to get. Here's a little background he has 0 collections 1 account with lates but after GW calls and letters they have finally stated they will delete all lates for 2014 but not 2015 which one was a 90 day late in Feb and a 60 Day in Jan. I'm hoping that because they are taking back the original 30 day late that those will be changed to 30 and 60 but we shall see. They said they will report at the end of my statement so 9/1 is the day for that. We recently had a family emergency and maxed out every single card. which is why we are back in the 500's since that's basically are only bad things on his credit (which is nothing compared to what I've got off) I'm hoping getting UTI down will help. Here's where we are with UTI on revolving and my goals for this month: Creditor NameCAPITAL ONELimit$500TermBalance$419 reported 83% uti(pay to $0 balance due 8/13) Cap 1Limit $400balance $337 reported 84 % uti(pay to $0 balance due 8/13) First PremierLimit $300Balance: $265 88%uti(already paid on 8/4 to $89 balance 29%uti but still hasn't showed up on report) First premierLimit: 700Balance: 599 85%uti(Paid down to 0 by statement closes 8/16 through e-check) Les Schwab TiresLimit: 1000Balance: 396 39%uti(pay down to 296 so 29% uti) That's all for my revolving which is mainly what I am worried about since I have no lates what so ever on my installment accounts. Any recommendations would be appreciated. I hate waiting for things to report I asked the lender if i could just pay and do a rapid rescore but she said its to expensive and time consuming that we were better off waiting for everything to report. Should this do the job of getting us to a mid 640 I had transunion at a 630 two months ago before the high uti. so im praying this will do it. We found out im pregnant and need to get civilly married but I wont marry until we buy a home because my credit is worse not to mention my student loan debt. Wish us luck and let me know if i should change my goals for higher score increases like leave them at 10 % rather than 0 balances?    

Answer 1

Hello I am writing on  behalf of my fiance as I deal with all of our finances. Basically I have worked hard to get his score up from high 400's (yes that's possible) to all reporting at or above 600. Recently his score plummeted after we opened up two new cards about 2-3 months ago and one showed up on his credit report practically maxed out. I had planned on paying it before the due date but we never got a bill it was reported with the balance before a bill was even circulated but that's a whole other issue. I am trying to recover from that currently he is at : EQU 570 Trans: 583 Exp: 567 we need a 640 to qualify for the down payment assistance program that we are in the process of trying to get. Here's a little background he has 0 collections 1 account with lates but after GW calls and letters they have finally stated they will delete all lates for 2014 but not 2015 which one was a 90 day late in Feb and a 60 Day in Jan. I'm hoping that because they are taking back the original 30 day late that those will be changed to 30 and 60 but we shall see. They said they will report at the end of my statement so 9/1 is the day for that. We recently had a family emergency and maxed out every single card. which is why we are back in the 500's since that's basically are only bad things on his credit (which is nothing compared to what I've got off) I'm hoping getting UTI down will help. Here's where we are with UTI on revolving and my goals for this month: Creditor NameCAPITAL ONELimit$500TermBalance$419 reported 83% uti(pay to $0 balance due 8/13) Cap 1Limit $400balance $337 reported 84 % uti(pay to $0 balance due 8/13) First PremierLimit $300Balance: $265 88%uti(already paid on 8/4 to $89 balance 29%uti but still hasn't showed up on report) First premierLimit: 700Balance: 599 85%uti(Paid down to 0 by statement closes 8/16 through e-check) Les Schwab TiresLimit: 1000Balance: 396 39%uti(pay down to 296 so 29% uti) That's all for my revolving which is mainly what I am worried about since I have no lates what so ever on my installment accounts. Any recommendations would be appreciated. I hate waiting for things to report I asked the lender if i could just pay and do a rapid rescore but she said its to expensive and time consuming that we were better off waiting for everything to report. Should this do the job of getting us to a mid 640 I had transunion at a 630 two months ago before the high uti. so im praying this will do it. We found out im pregnant and need to get civilly married but I wont marry until we buy a home because my credit is worse not to mention my student loan debt. Wish us luck and let me know if i should change my goals for higher score increases like leave them at 10 % rather than 0 balances?