+24! What do I need to do to hit 700?

[WhiskeyR]

Until last month I had zero open revolving accounts, so I took out a Capital One secured card. Today it is on my reports with 5% utilization, which gave me a +24 point bump to 634.

What do I have to do to get myself above 700? Here's what is in my report:

Positives:

Auto Loan, 14 months old, no lates

Oldest account is 12.5 years old (paid off car)

1 open revolving account, two closed.

Negatives:

1 Collection for $423 (falling off in Feb, 2014)

1 Collection, reporting 120 days late for $320 (falling off in November, 2013)

1 Collection, less than two years old, for $223 - going to PFD next month

Assuming I am able to PFD the recent collection, what else do I need to do to hit 700? Wait? Take out another card?

[guiness56]

Getting all of the collections removed would help a lot.

[Anonymous]

How would one go about removing collections?  I have some on my report as old as 5 or 6 years...

[guiness56]

If they are paid send a GW letter.  If not ask for a PFD.

[sarkell]

Get rid of collections once you get past 660 add a store card maybe. Gemb are usually good ones.

[WhiskeyR]

Thanks. I'm going to get rid of the most recent one (from searching these forums, it should be an easy PFD) and wait the other two out, especially since one of them only reports on Equifax.

[guiness56]

Even off your visible CR they will still be there.  If you apply for any credit/insurance $150,000 or more the lenders can ask to see everything.

[sarkell]

Plus sometimes other cas will start reporting a collection later