30 day late from June removed- credit scores unchanged.

[questioncity]

I'm trying to do some credit repair and have enrolled in the USAA 3-bureau credit monitoring. Last week my scores were 699 (Exp) 671 (EQ) 672 (TU). I realize these are not real FICO scores. But I figured they would be helpful to monitor the credit-rebuilding process.

Negative items:

Charge off for GAP store card 10/2010 $132 - goes up to 120 days late for several months before charge off

Charge off for Macy's Visa 9/09 $221 (this reflects as two accounts since it was a store card + Visa) goes up to 120 days before charge off.

Bank of America credit card - One 30 day late in 2007, one 30 day late in 2008, one 30 day late June, 2012.

Utilization slightly high at 25%. 

Neither of my charge offs are showing up as collections. 

Positive:

Several positive accounts, including 3 credit cards, AU on my parents' USAA card with 20k limit, a car loan and lots of student loans with 4+ years positive payment history.

I am expecting the following improvements this month:

GAP agreed in writing to remove all negative information from the tradeline (hasn't happened yet)

I paid off Macy's Visa in full (will begin GW-ing soon after)

BoA agreed to remove 30 day late from June 2012 

I've been pulling my credit daily waiting for these changes to reflect. And the BoA late from June of this year dropped off today. The surprising thing was, my FAKO scores didn't move at all. They're still the exact same as yesterday. When the 30 day late showed up, I remember the scores dropping precipitously, so I was looking forward to a good bump. But nope. Same credit report that shows the BoA late removed also shows the scores unchanged for the last week. Is there something I'm missing here? Will it update later? Or are the other derogatory accounts preventing a further increase?

[Shogun]

The score changes can be quite confusing.  Yes you had a 30 day late removed, but how much was it affecting your credit.   Plus like you said they are Fakos.  I still can't figure out their scoring.  I can have my FAKO score drop and FICO go up.   But congrats on the delete!

[questioncity]

I guess I just had the impression that a recent late payment was pretty devastating to your score and that fixing it would result in a significant increase to FAKO/FICO, both.

In fact, if I'd had to guess, I was expecting a big bump from deleting the 30 day late, since it's my only bad mark in recent history (>2 years). While I was a little less confident about the deleted charge off doing much. Even when it's gone, I'll still have another, only one year older. I could see that not changing my credit profile much. 

Bleh- It's just confusing :-/

[Shogun]

And truth be known you could actually have an increase on your FICO.  

[questioncity]

To take this on a bit of a tangent: any guesses about whether I can get above a 720 before the end of the year with the following credit profile:

One charge off from 2009 (I doubt I will have success with good willing the Macy's card)

Utilization <10% (should happen by October)

3 credit cards (no store cards)

1 credit card authorized user

90k in student loans (9 different open accounts reporting). Making more than minimum payments for 3 years (high balance 140k)

10k in car loan (down from 20k, 1.5 years of 3 year loan. I am the co-signer on this loan. My dad is the primary purchaser.)

2 inquiries in the past year; 6 in the past two years

I just don't know what sort of ceiling there is likely to be on my account with the charge off. If not, do I have any other options for improving my credit score in the short term? Should I open a different sort of account?

[Shogun]

Sure it's possible.  Pay those debts down as much as you can.  Keep the util down and you could make it.  And I wouldn't give up on Macys.  Who knows, you could get it off.