Raising credit score

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attrapereves
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Raising credit score

Postby attrapereves » Thu Jun 26, 2014 11:22 am

My credit score is currently between 720 and 740. I have two car loans that I pay every month. I also have some student loans, but they aren't in repayment. I have 5 credit cards that I pay in full every month.

I have 6 recent inquiries (credit cards, house rent app, and car loans). When these inquiries drop, will that cause my score to increase? As the balance lowers on my car loans, will that cause my credit score to increase? What about the student loans; when those enter repayment, will that cause my score to increase?


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PlyrStar93
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Postby PlyrStar93 » Thu Jun 26, 2014 5:39 pm

attrapereves wrote:I have 6 recent inquiries (credit cards, house rent app, and car loans). When these inquiries drop, will that cause my score to increase?

Inquiry lowers credit score, so when they fall out from your report your score should increase (provided this is the only change). However, when you wait till that time your AAoA is assumed to increase and this should have a more significant effect on increasing your score.
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attrapereves
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Postby attrapereves » Thu Jun 26, 2014 6:31 pm

When my student loans enter repayment, will that cause my score to increase?

MemberSince99
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Postby MemberSince99 » Fri Jun 27, 2014 5:44 am

That's a question that only the FICO people can answer for you honestly. Sure it's an installment tradeline and assuming it's good should be a plus but it will be new and the percent paid on it vs the balance will be very low.


So basically we have no way of knowing how it will affect your score though over time it should raise it and thus it will increase. That's all any of us can tell you.



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