I need to raise my fico 7 points for a loan any tips?

[rynophiliac]

So just like the title said i need to raise my middle FICO score a lousy 7 points to qualify for the loan i want to purchase a home. Rediculous, i know, why cant i just give them another 5k down?

anyways, i am a first time home buy with only 1 year of credit history which is why it isnt as high as it should be. i have perfect payment history of 1 credit card (roughly 45%of the limit, 3 installment loans one unsecured and two secured (extremely small amounts, main purpose was to build credit fast) one of which i just made the last payment on.

my scores are actually pretty good but in order to qualify for the specific mortgage i want i need to boost it 7 points.

any ideas?

a friend told me to call my parents and have them add my name to their best credit card, he said i will instantly have years of credit, does this really work? is it illegal? even if it did work wouldnt it take the credit card company awhile before they finally got around to reporting it to the bearueas?

any other suggestions would be greatly appreciated, thanks alot
rynophiliac

[chane]

Your friend is wrong, but only because FICO just recently addressed that issue and "piggybacking" no longer works.

I don't know much about rapid re-scoring, but that is what most people do when they only need a few points. I've heard that works.

If not, your best bet is paying that credit card down to under 30%. OR call the credit cards and ask them to raise your limits!!! That should definitely do it!

But, if for some reason it doesn't you simply just won't be able to do it quickly. You will just have to keep paying and building. Eventually get rid of the secured cards and get more unsecured cards.