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JavaManOne

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Credit Score Languishing
I have 3 secured credit cards with a utilization rate consistently under 10%. That's all the active credit I have. No car payments, no mortgage, nothing.

One derogatory remains, a Capital One charge off which I fought and fought to no avail. It's scheduled to come off my credit report January 2017.

My Credit Karma score is 703, my FICO score averages 615 and moves very little.

With all of that said, what can I do to improve the FICO score? I can't get a mortgage as of yet. VA told me I need a minimum of 625.

Any constructive ideas would be appreciated. Thank you,

Don

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A small installment loan that is reported to all three credit bureaus may help. Get one for five hundred or a thousand dollars and then pay it down to about thirty percent of the loan amount. Some places do offer Secured installment loans if you need to go that route. Be aware though, that some short term damage could occur by doing this. Do some reading on "early exclusion" as Transunion will usually remove negative accounts six months prior to the seven year mark and Equifax and Experian will sometimes remove them three months early, but it never hurts to ask them for an "early exclusion" at the six and a half year mark. If told no on the "early exclusion" request, keep trying now and again, sometimes all it takes is getting the right rep. If you can get that negative off your reports that should put you where you need to be scorewise. Remember though, a lot more than credit scores go into a lender's decision, so make sure that you do a lot of reading on that if you haven't already done so.

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