I'm trying to work on my credit repair at the moment and I am looking for any advice. I haven't had any lates (minus the charge offs in the last two years).
Current Scores:
- EX FICO: 622 (was reporting higher utilization at time of calculation) / 589 FAKO
- TU FAKO: 568
- EQ FAKO: 609
I am just trying to figure out if I should pay the charge offs or let them be and what else I can do to raise/improve my credit. Overall utilization is 10.23%
Current Cards:
- Fifth Third Bank Platinum Card (Opened 02/2015 Current Utilization 0% $0/200)
- Capital One Quicksilver One (Opened 10/2015 Current Utilization 9.25% $250/2700)
- Capital One Secured Platinum (Opened 08/2015 Current Utilization 0% $0/500)
- American Express Delta Gold (Opened 10/2016 Current Utilization 20% $200/1000)
Various Student Loan Accounts(opened since 2013 putting my AAoA just over 3 years) that are paid as agreed/no lates when I was out of school but I am back in and they are having payments held due to that.
Also two open vehicles in my name, one installment loan, my car with a $10,000 balance never late. Second vehicle, a Kia lease with my ex due to end in 2018. Also a close auto loan due to me refinancing my car and getting a better rate (always paid as agreed).
Negatives:
- Charge off 10/2014 ~$2000 currently at $0 Discover default Judgment issued and not filed (removed PR from report but charge off still exists on Discover acct)
- Charge off 10/2014 ~$400 currently at $800 US Bank/Student Card (OC still reporting late each month)
- Charge off 10/2014 ~$400 currently at $800 US Bank/123 Rewards Kroger Visa (Sent to Portfolio Recovery Associates)
- Best Buy Credit Card Charged Off at ~$3400 Currently at $1125 (making payments set to be paid off in Sept 2017)
- Kia Lease has 2 late payments back from 08/2014
Any advice to improve my score would be great but I am particularly looking to see what to do with those charge offs. I know I can let them age off but Ohio SOL is 6 years so I have a ways to go. I could get the charge offs paid off in the next 6 months or so since I am living at home and no longer paying rent at the moment.
The only reason I am thinking of paying it off because this will look better to other potential creditors down the road and if I end up looking for a mortgage in ~5 years or so (wouldn't want that creeping up but trying to think long term).
