My Credit File: What to improve?

Anonymous · ‎02-29-2016

Here is my most recent (02/28/2016) Credit report.

Any suggestions on how to improve my overall credit will be appreciated.

*Fico Score 8

Transunion- May'15 580 / Today- 707

Experian- May '15' 587 / Today- 707

Equifax-May '15' 590 / Today- 719

*DROGS-

EQ-3 (4 late payments 30+days/3 late payments 60+days)76% accounts always paid as agreed

TU-4 (5 late payments 30+days/ 4 late payments 60+days) 72% accounts always paid as agreed

EXP-2 (3 late payments 30+days/2 late payments 60+days) 85% accounts always paid as agreed

*Revolving balances to credit limits-

EQ- 4%

TU- 4%

EXP- 4%

(See below for actual revolving accounts)

*Oldest Account opened-

EQ- 9 years, 5 months

TU- 9 years, 5 months

EX- 9 years, 5 months

*AAOA-

EQ- 5 years, 2 months

TU- 6 years, 2 months

EX- 5 years, 6 months

*Most Recent Late Payment-

EQ- 2 years, 6 months ago

TU- 1 year, 7 months ago (Not sure why this one is different. My last late payment was my old auto loan in Aug 2013)

EX- 2 years, 6 months ago

*Inquiries (12 months ago-Current)

EQ- 4

TU- 2

EX- 6

*Collections-

EQ- 1 (Showed up yesterday, it was assigned in 2011 and I have no idea why it is reporting now. It’s Medical for $52.00. It has NEVER showed up before on any of my credit reports. I’m trying to get a PFD this current moment)

TU-0

EX-0

*Revolving accounts- (No negative, or Closed accounts, just 3 open)

1-Credit One Bank Secured Credit Card- $450 limit (Opened May:2015)

2-Capital One Secured Credit Card- $500 limit (Opened Mar:2015)

3-Local Credit Union Unsecured Credit Card- $500 limit (Opened Feb:2015)

(Note: I have never requested a CLI on my unsecured card. My secured cards started off with a very low available credit and over the past year they just have been doing CLI which is surprising)

*Installment Accounts 21 accounts total: (7 open, 14 closed, 7 negative)

Open- (Never late on any)

1-Cosigner Car lease-

Jan 2015- 15,000 balance left.

2-Credit Union Auto Loan

Jun 2015- 10,000 balance left

3-Credit Union Personal Loan Unsecured

Jun 2015- $360 balance left (Original loan was $1000 to help establish good credit)

4- Student Loans

Jan 09- $422 balance left

5- Student Loans

Jan 09- $159 balance left

6- Student loans

Aug 08- $845 Balance Left

7- Student Loans

Aug 08- $563 Balance Left

(4, 5, 6, 7, are all the same student loan agency. They picked up my loans from rehab Feb 2015.)

*Negative Accounts- (All balances $0)

1- Credit Union Auto Loan- Opened 2009. Closed March 2015. Paid as agreed.

Late 30 Days- (Aug 2013 was last recent late payment date)

EQ 7 times

TU 4 times

EX 6 times

2- Guar Student Loans- Opened Jan 2011, Closed to collection in Feb 2013.

EQ-Didn’t report this

TU-Didn’t report this

Ex-Late 1 time 90+ Days

3- Guar Student Loans- Opened Jan 2011, Closed to collection in July 2013 (Each CA shows different closed date)

EQ- Late 22 times 90+ Days

TU-0 times late

EX- 1 times late 90+ Days

4- Guar Student Loans- Opened Jan 2011, Closed to collection in July 2013. (Each CA shows different closed date).

EQ- Late 22 times 90+ days. 120+days past due

TU- 0 times late

EX- Didn’t report this

5- Nelnet Original Student Loans- Opened Sep. 2006. Closed Nov. 2009. Perm assigned to government.

Eq- late 2 times 90+ Days

TU- late 11 times 90+ days

EX- late 11 times 90+ days

6- Nelnet Original Student Loans- Opened Jan. 2007. Closed Nov, 2009. Perm assigned to government.

EQ- late 2 times 90+ days

TU- late 11 times 90+ days

EX- late 11 times 90+ days

7- US Dept. of Education- Opened Aug. 2008, Closed Jan 2012.

EQ- late 0 times

TU- late 8 times 90+ days

EX- late 9 times 90+ days

ALL NEGATIVE STUDENT LOAN STATUSES STATE: LATE 120+ DAYS

(Back story on negative items: I defaulted on original student loans. They got picked up by Guar Student loans. Started payments to them and then stopped. Loans were reassigned to US Gov. I was able to get into another student loan rehab in 2014. Completed 9 required payments. Transferred student loans to regular payment plans. Now loans are almost paid off and you can see balances of them in my open installment accounts).

Creditwiser · ‎02-29-2016

The 60 & 90 day lates are still having an affect. I would get busy writing GW's for those. The Medical bill should be an easy PFD.

takeshi74 · ‎03-01-2016

We always advise getting derogs (DROGS & Collections in your OP) addressed first given their typical impact as long as they are on reports. Hit the Rebuilding subforum and carefully research to see what you can do.

You also need to do whatever it takes to avoid them in future. Payment History is the biggest factors and it must be 100% positive with no lates, collections, etc.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Educate yourself on how credit is assessed and learn to assess your own reports versus relying on specific for a given report.