Rebuilding Your Credit

[SLR72689]

I have one more collection to pay/remove and I'll have all collections removed. I've had 7 collections removed this month so I had quite a large score jump. 

I have 3 open credit cards, two are at $0 balances (paid off in February) and one has 30% utilization which I'm working on getting under 9%.

I have a rather biiiiig charge off ($5600 with a $4900 limit, over the limit thanks to late fees & interest)... so if COs do affect the utilization... even if I get all 3 open credit cards paid off, my utilization will still be 100%+, right? 

[guiness56]

If the CO'd card is reporting a balance and a CL, then, yes it is being factored into your utilization.  And yes, you are correct, it would be over 100%.

[SLR72689]

---

guiness56 wrote:

If the CO'd card is reporting a balance and a CL, then, yes it is being factored into your utilization.  And yes, you are correct, it would be over 100%.

---

---

Darn. It is reporting a CL and balance. 

[madmann26]

+1 guiness,

When I started my rebuild, it was killing me early on. Once I paid them and they reported a $0 balance, my score starting moving pretty good.

[SLR72689]

---

madmann26 wrote:
+1 guiness,

When I started my rebuild, it was killing me early on. Once I paid them and they reported a $0 balance, my score starting moving pretty good.

---

Unfortunately, it'll be least a year before I can even BEGIN trying to pay them.

[flinjami83]

SLR72689,

Would you mind sharing with me how you got NCO to delete from your CR's?
I have one small bal account with them and don't know what to say to get them to agree. 

Thanks!