Credit Card Utilization and Credit Rebuild Advice Needed Desperately!!!

[Anonymous]

My Equifax credit score is 625 according to equifax.com. I have four paid collections on my report from payday loans that became delinquent when I was layed off. I have been trying to GW but have been unsuccessful. I have 3 credit cards, one in which I am an authorized user under my mom's Bank of America credit card the balance is zero, a second joint credit card with a limit of 3500 and the balance is 350 and lastly my very first credit card which was opened in 2002 with a credit limit of 1800.Currently my report is showing that the balance on the previously mentioned credit card is 1730 but last week I paid the card down to 180.00. Once the credit reporting agencies update the balance on this credit card should I see and increase and if so, can you guys give me a rough estimate. Also, can anyone provide me with any advice on getting those paid collections for payday loans deleted, they were paid before I knew about this resource. THANKS a lot.

[llecs]

You might see a bump. Ideally, you want two of your CCs to report $0 with the remaining to report under 9%, versus 10%. There's no way to guess a score change, however if you let us know the CL of the $0 balance BofA, we can take a stab at it.

Keep GWing over and over and over. Target additional letters to the Pres/CEO of the CA. Try also planetfeedback.com. That may work if the CA is more well-known. Ramp up your efforts w/ the GWs and blitz them via e-mail, mail, fax, etc. 

[BungalowMo]

Are all 4 payday loans thru the same OC??  Did they all go to collections?  And to the same CA??

And...are they all currently PIF?

Also...you will want more than just your EQ report. If you have not gotten your 3 free reports during the last 12 mos...go to the free report link in my sig block.  You need to know what is reporting on all 3.  Also..EQ is the only one that will sell you a real FICO from their linked site below.  Check my 3 FICO links to get a TU FICO, and nowhere can you purchase an EX FICO.  They stopped selling them to the consumer.

[Anonymous]

There is hope - I went from a mid-score of 575 in June 2009 with 2 paid collections, 3 recent late car payments, 68% utlization on CC, and as of the beginning of September my mid-score was 675 - one collection account removed, still have the late payments, but paid cc down below 10%. Qualified us for a mortgage, we're closing Thursday on an FHA loan at 5.15% for 30 years. I'm stoked!

[Anonymous]

Congrats Beachy - that is keen!  From 575 to 675 plus a great mortgage in three months - superb work!!!!