Best way to increase FICO score in one month?

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RidgeRacerJM
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Best way to increase FICO score in one month?

Postby RidgeRacerJM » Thu Jan 10, 2013 3:54 pm

I think I read somewhere the best way to do this is to stop credit card use completely, or just charge less than 6% (chose that number arbitrarily) of my total utilization?

Im doing this because I'll be applying for a personal loan for school in the coming months. Most recent my score, just 2 weeks ago from Equifax, was a 744. Is getting a higher score going to really affect me much at this point?

Thanks!

-edit-
- I also pay in full every month.
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trumpet-205
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Postby trumpet-205 » Thu Jan 10, 2013 5:25 pm

Score is just a calculated number. What is on your report is far more important than a number. Don't get too in love with credit score.

Best way to maximize credit score is to let very little balance (but not zero) be reported.

Example - New statement at 10th every month. You have $500 of balance. Pay $490 before the 10th so your next statement reflects $10 of balance.
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Robrus1
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Postby Robrus1 » Fri Jan 11, 2013 7:38 am

You'll qualify for the best rate available if they use EQ and see 744. So no, I wouldn't worry about trying to raise it more.
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