cancel
Showing results for 
Search instead for 
Did you mean: 

Do you think a 4 month old collection is worth 20 points?

tag
sphinx313
Established Contributor

Do you think a 4 month old collection is worth 20 points?

Obviously with the bucketing system and the other variables in an individuals credit report, no one can accurately predict what a score would do with any changes, but would you think it's worth at least 20 points? My EQ FICO is 584 or so, and the lady told me this 4 month old collection would be deleted on the 26th when they do their regular monthly reporting. I ask only because I want to be a little more excited about potentially breaking into and beyond 600, which I have never been at and I am 26 years old.

 

Breaking into 600 would be a huge milestone coming from 388 in 01FEB11, and it cost me just over $3,000 in debt repayments to get where I am at. I would assume a 4 month old collection with no other active collections to be worth AT LEAST 20 points, so if you have ever been in this situation, please share your score changes with a less than 6 month old collection deletion. I need to hype myself up as this deletion cost me $1,600 lol.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


Take the FICO Fitness Challenge
Message 1 of 7
6 REPLIES 6
DaBears
Senior Contributor

Re: Do you think a 4 month old collection is worth 20 points?

Too give you some good news, I had a baddie fall off last week and I jumped 22 points. It is possible. Good luck on your credit rebuild journey!!!! Smiley Happy

Message 2 of 7
sphinx313
Established Contributor

Re: Do you think a 4 month old collection is worth 20 points?

Thanks, that is definitely good news. Getting to 600 will feel like an unexpected promotion or raise lol. I am definitely anxious.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


Take the FICO Fitness Challenge
Message 3 of 7
guiness56
Epic Contributor

Re: Do you think a 4 month old collection is worth 20 points?

That new of a collections would probably earn you some points, at most what you lost when it hit your CR.

 

Rebucketing doesn't happen if there a still collections and/or COs on your account.  Not saying you do, just an FYI.

Message 4 of 7
DaBears
Senior Contributor

Re: Do you think a 4 month old collection is worth 20 points?

I was the same way, when I started rebuilding I had a TU fico of 495. cleaned up my credit report and now im at a 735 TU fico. Patience and persistances pays off. Do you have a secured card? if not get one, it will help.

Message 5 of 7
sphinx313
Established Contributor

Re: Do you think a 4 month old collection is worth 20 points?

Yeah I have multiple secureds and all my CO's were paid off or PFD'd now I have to attempt GW's on the others. I do have other CO's but no collections. I don't know what I lost when the collection hit because I wasn't monitoring my credit when it happened. I guess we'll see here in a few days.



Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700


Take the FICO Fitness Challenge
Message 6 of 7
DaBears
Senior Contributor

Re: Do you think a 4 month old collection is worth 20 points?

Keep up the good work and keep us posted. I shall crack open a nice cold Bud Light and drink to you, lol Smiley Happy

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.