My current EQ rating is a 608. I have 3 collections reported totaling about $650.00, all three are to the same collection agency for outstanding emergency room visits. Yesterday, I paid off all three and got letters stating they would "delete" all reports to EQ,TU,and EX.
I have 1 Chase CC for Circuit City with a limit of $1000.00. At the time I pulled my score I had a balance of $800.00. Two days ago, I paid all but $70.00 of that. (7% of my available limit)
I have an auto loan that has been in perfect standing since I opened it 11 months ago. Balance on that $19,300.00.
I also have a signature loan (2300.00 remaining) that, too, has been in peerfect standing for the last 22 months.
Just opened a new account with Home Depot and applied with Citi Bank.
My question is, does anyone have any idea as to what my score will (or should) be after the 3 collections are gone and now that my balances on Revolving credit have been lowered to within "FICO" standards?
I realize that opening the Home Depot and applying for the Citi Bank cards can and probably will hurt, but, one of my problems is NOT ENOUGH CREDIT.
I put all my bills in a hat each month and keep drawing names and paying bills until there's no money left. If you don't stop harassing me, your name won't go in the hat!