Year old credit cards

[Kathy4NU]

8 of my 12 credit cards will hit one year in May.  My mortgage and second mortgage will each hit a year in May.  My car loan will hit 1 year in June.  

2 cards are over a year old (about 18 months each).

2 cards I received in November '13.

2 paid medical collection ('08 & '10) on Trans Union.  Other credit reports have no blemishes. 

13 years of perfect payment history on student loans.  Otherwise, my credit file is thin - thus the massive app spree after closing on my house in May.

What do you think will happen with my scores?  My siggy line is not correct.  Scores are hoovering in the low to mid 650 range. 

[gdale6]

I would not expect anything major at the 1 year mark though your score is liable to rise by few points based on individual account calcs, 2 yrs is the mark at which you would get a little more of a boost, FICO considers all accounts to be new for 24 months.

[coldnmn]

Your inquiries at one year aren't figured into your fico score at the one year mark. You may see a score jump. How much I wouldn't even care to guess. Good Luck.

[Kathy4NU]

I was afraid fo this.  I was hoping for a 10 or 15 point jump.  Bummer.  I am probably stuck around this score for another year.    All the new accounts brought down my score last June when they hit my reports.  I haven't been able to rebound since than.

I have a mix of credit - cards, mortgage and installment loans. I think time is all I have to help me.  

I am carring a few balances.  I know that is bringing down my score a tad bit.  I am going to work on paying everything off in the next 90 days.  I might see a 20 point jump or so from doing that.   All my cards that have balances are 0% so I haven't really put effort into it.  I want to ask Chase for CLI on my Freedom but they turned me down last time due to low score and lack of credit history.  Time and patience!

[-Wade-]

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@Kathy4NU wrote:

8 of my 12 credit cards will hit one year in May.  My mortgage and second mortgage will each hit a year in May.  My car loan will hit 1 year in June.  

2 cards are over a year old (about 18 months each).

2 cards I received in November '13.

2 paid medical collection ('08 & '10) on Trans Union.  Other credit reports have no blemishes. 

13 years of perfect payment history on student loans.  Otherwise, my credit file is thin - thus the massive app spree after closing on my house in May.

What do you think will happen with my scores?  My siggy line is not correct.  Scores are hoovering in the low to mid 650 range. 

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My Discover was my last TL under 1 yr and when it pasted the 1 yr mark I got a TU 13 point score increase! 

[angelcred10]

congrats on the 1 year mark

I'd say, paying the balances will help more than hitting the 1 year

[SunriseEarth]

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@Kathy4NU wrote:

I was afraid fo this.  I was hoping for a 10 or 15 point jump.  Bummer.  I am probably stuck around this score for another year.    All the new accounts brought down my score last June when they hit my reports.  I haven't been able to rebound since than.

I have a mix of credit - cards, mortgage and installment loans. I think time is all I have to help me.  

I am carring a few balances.  I know that is bringing down my score a tad bit.  I am going to work on paying everything off in the next 90 days.  I might see a 20 point jump or so from doing that.   All my cards that have balances are 0% so I haven't really put effort into it.  I want to ask Chase for CLI on my Freedom but they turned me down last time due to low score and lack of credit history.  Time and patience!

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Have you tried GW letters for the paid collections?   Removal could help.

A bunch of HPs no longer dinging your scores should help, for sure. 

[Kathy4NU]

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@SunriseEarth wrote:

Have you tried GW letters for the paid collections?   Removal could help.

A bunch of HPs no longer dinging your scores should help, for sure. 

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I have.  They keep verifying the last two.  I was successful in getting them off on the other reports.  This collection agency has been a huge thorn in my side.  It started out as 30+ medical collections (cancer survivor).  I was able to get the hospital to tell them to remove them.   I even took them to court over getting a judgement vacated.  Judge ruled in my favor.  I think they keep verifying these as payback for taking them to court.  I threw in the towel in fear they would end up putting them back with the other two bueaus.  One will age off next year.  The other stays until 2017.  Uggg.

My short term goal with my credit is to sit back and watch the scores go up and increase my CL.  Long term - we would love to build a custom home in 3 years and need my score to get there for us in order to get the lowest rate possible.

[SunriseEarth]

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@Kathy4NU wrote:

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@SunriseEarth wrote:

Have you tried GW letters for the paid collections?   Removal could help.

A bunch of HPs no longer dinging your scores should help, for sure. 

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I have.  They keep verifying the last two.  I was successful in getting them off on the other reports.  This collection agency has been a huge thorn in my side.  It started out as 30+ medical collections (cancer survivor).  I was able to get the hospital to tell them to remove them.   I even took them to court over getting a judgement vacated.  Judge ruled in my favor.  I think they keep verifying these as payback for taking them to court.  I threw in the towel in fear they would end up putting them back with the other two bueaus.  One will age off next year.  The other stays until 2017.  Uggg.

My short term goal with my credit is to sit back and watch the scores go up and increase my CL.  Long term - we would love to build a custom home in 3 years and need my score to get there for us in order to get the lowest rate possible.

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You certainly have had quite a journey, and I've very happy to hear you are a survivor!

I can certainly understand why you don't want to "poke the bear" anymore and just let the collections be with the one CR (the CA doesn't seem beyond reinserting the item on the remaining CRs).