Reply
New Contributor
Posts: 74
Registered: ‎06-27-2007
0

Question about score

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. Smiley Very Happy
 
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.
 
DJ
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!
Regular Contributor
Posts: 211
Registered: ‎04-11-2007
0

Re: Question about score

If you want my guess...I'd say +50 to +75 points if all 3 collections were on your EQ report. Along with paying down your card.
 
Opening those cards won't cause that much of a dent, and in the long run they can only + your score.
New Contributor
Posts: 74
Registered: ‎06-27-2007
0

Re: Question about score

Is there any way to run the simulator where you can do multiple things that would effect the score?
 
That's the only drawback I see in the simulator. It won't even give you the option of removing collections or inquires or lates.
 
If someone from "Myfico.com" is reading this post.......is there any way of including this in the future?
 
DJ
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!
New Contributor
Posts: 74
Registered: ‎06-27-2007
0

Re: Question about score

bump
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!
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.