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Question By
slowclimbup

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16 People Helped
Any advice on getting my FICO score into the "Good" range?
I'm in the process of rebuilding my credit after being in a really crappy situation a couple of years ago, and then unexpectedly losing my job last summer. Currently my score is either 532 ( based on my Citi card) or 571 (Discover card). The "key factors affecting my score" are my utilization rate and "serious delinquency".

At the moment I'm using 64% of my overall available credit but it isn't distributed evenly across cards the 4 open cards that I have. I assume this might be part of the issue and I'm steadily bringing down my balances as best/quickly as I can.

Concerning the serious delinquency, I unexpectedly lost my job last summer and missed several payments because of my lack of income. Once I finally got caught up and on top of minimum payments, it was October (about4-5 months of trying to get that under control!) and 3 of the cards I had were closed. Unfortunately, I know there is nothing I can do about having those late payments and closed accounts on my report.

Any advice on how to balance out the serious delinquency aspect other than paying down current my balances? And why there's a 40 point difference in scores (and a 100 point difference from my CK scores)?

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Top Contributor
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Just work on getting your credit card balances paid off. Let time run it's course and in a year or two the late payments will start to lose their punch and at that time maybe get a small installment loan to add credit mix. In the meantime the one thing that you can do now to better your future credit is to read everything that you can about credit, having knowledge about all parts of the credit game will set you up for a better future. The point difference is most likely due to different scoring sytems, always look to see what type and version of score you are getting and from which credit bureau.

Reply by
slowclimbup

2 Contributions
16 People Helped

Thank you for the response!

I looked into the scores and my Citi score is EQ while the Discover is TU. Now I just wonder what my Experian score is lol. Also, I have an installment loan (car) and a student loan so I've already got a mix going. I guess the only thing to do really is to keep chipping away at those balances.

I was hoping to do a balance transfer but my scores clearly won't allow for that.

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