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Fico jump and how long to apply for AMEX.

Established Member

Fico jump and how long to apply for AMEX.

Fico peeps, 

 

I am hopeing to have a big jump in m fico after I payoff all CCs and the 4 collections accounts I have. 

 

In the event that I jump from a 515 to a 650 or even above a 700.. How soon do you think I can apply for 

an AMEX or toplevel CC if one week i was 515 and the next week I am 650 or above. 

 

Thanks, 

 

 

Message 1 of 5
4 REPLIES
Moderator Emerita

Re: Fico jump and how long to apply for AMEX.

Before you pay for those CAs, try asking for PFDs. Paid or unpaid are still viewed as as a derog on your cr.
Message 2 of 5
Established Contributor

Re: Fico jump and how long to apply for AMEX.

A paid collection will NOT increase your score. The only way to increase your score is for the derogatory to disappear. Paid collections might look better on manual review, but will not increase your score. PFD is the way to go!

100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Message 3 of 5
Epic Contributor

Re: Fico jump and how long to apply for AMEX.

What credit cards and limits do you currently have?
Message 4 of 5
Senior Contributor

Re: Fico jump and how long to apply for AMEX.


09Lexie wrote:
Before you pay for those CAs, try asking for PFDs. Paid or unpaid are still viewed as as a derog on your cr.

+1

 

I made the mistake of listening to a few CA years ago when they told me if I paid it then it would no longer affect my CS. Luckily when I started lurking on here I learned about GW letters and got them all removed.

Message 5 of 5