I am trying to get my mortgage scores to 640 so that I qualify for a USDA home loan. Right now my FICO Mortgage scores are 600 636 and 632. I just paid off 5 cards to a $ 0 balance but have 1 left with a 19500/20500. (nothing I can do about that right now). My only other debt is a NFCU CLOC at 2700/3000 and a NFCU personal loan 8000/10000. My $ 0 cards havent reported yet, but they should all report in the next week or so. 2 or 3 baddies depending on which report, 2 medical, 1 not. Last late payment on record for any account is over 2 years. AAOA is 7/4/7.
I also have a preapproval for Delta Gold AMEX sitting for me, thinking that would decrease my utilization? Should I pull the trigger? If I get the $ 1k that everyone else seems to be getting that would also help decrease my utiliztion. After everything reports, I should be at 82% overall.
Using the Cap 1 upgrade link I found here, I was able to get my platinum moved up to a Quicksilver. Plan to CLI both my QC1 and QC once my cards all report $ 0 balance and then combine both into the QC. Then I would app the Delta Gold AMEX – maybe get more then $ 1k? My regular FICO 8 scores are 626/618/642 and FICO Credit Card scores are 629/627/633.
Is that going to be enough to bump my scores over 640 do you think and if not what do I need to do? Also, when does your FICO mortgage score move? Once a month, or as often as your regular FICO8?
Thanks for the help!