715 Credit Score, How Can You Raise It?

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715 Credit Score, How Can You Raise It?

Postby maliburon » Sat Nov 12, 2011 12:56 pm

I have a 715 FICO score utilizing 46% of my available credit lines. How can I raise my score. Would I best apply for new cards or request increased lines on existing cards.

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Postby sticf » Sat Nov 12, 2011 4:09 pm

There is another option, pay the lines down.

What is your target credit score?

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Postby naomibatac » Mon Nov 14, 2011 1:03 pm

I think if you just continue what you are doing; using only 46% of your limit and paying on time, your score will increase eventually.
[size=60]I don't have any relationship to the credit cards or companies discussed here. I am solely a regular member of this forum with no direct financial rewards from this site. My opinions are solely mine.[/size]

A mom of 3 and currently living life, and working for credit card helpline, a company dedicated to helping people get out of credit card debt.

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Postby boomhower » Tue Nov 15, 2011 12:13 am

Obviously lowering your utilization is the fastest way to improve your credit score, 46% is high. First call your current creditors and inquire about getting CLI's without a hard pull. Hard pulls bring down your score but by how much depends on the thickness of your file. After six months the effect is lessened and after a year the affect is gone but will continue to report for two years.

If that doesn't work you have some decisions to make. If they require a hard pull you need to decide if you think they will approve it with a hard. Your score is good enough for most cards to add new cards. New cards lower your score even more by having the hard inquiry in addition to lowering you average age of credit. Again, by how much will depend on the thickness of your file.

Now how much will this improve your 715 credit score? That will depend on how much of an increase in available credit you have compared to your current balances.

The short of it is that it's just as much art as science since we can't access the formulas we use. But contacting your current creditors for soft pull CLI's is the no brainer first move.

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Postby FutureBillionaire » Tue Nov 29, 2011 5:02 pm

boomhower wrote: After six months the effect is lessened and after a year the affect is gone but will continue to report for two years.

How did you find out about this? Is there a way to verify this?
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