How much could my score go up now??

[jdirilo]

So back in Jan my score was a 549(experian) and I was doing some car shopping and my score dropped to like 515. That is probably the worst part about my credit are all the inquiries(other than a discharged BK from 09). Anyway, as of last week, I have two medical collections that are being deleted, and I understand it will take about 30-45 days for them to be gone. I also made large payments to my cc's and brought the utilization down to about 30%, and my cap 1 credit builder card limit was increased as well. So, based on your own experience, how much do you think my score could go up in the next month or two? I stopped car shopping because in the past 6 weeks, I went to three different dealers who all said I was approved, I drove away with a new car, and two weeks later they made me bring the car back because the financing couldnt be done on the terms that they had promised.  So I just want to wait for these changes to hit my credit and see where my score is at, and POSSIBLY try again at my credit union or something. I am hoping to get at least to 600. Is that unrealistic at this point? Once that stuff is cleared up from my report, the only negative item on there is a charge off from Univ of Phx for $2200.

[loviedovie]

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@jdirilo wrote:

So back in Jan my score was a 549(experian) and I was doing some car shopping and my score dropped to like 515. That is probably the worst part about my credit are all the inquiries(other than a discharged BK from 09). Anyway, as of last week, I have two medical collections that are being deleted, and I understand it will take about 30-45 days for them to be gone. I also made large payments to my cc's and brought the utilization down to about 30%, and my cap 1 credit builder card limit was increased as well. So, based on your own experience, how much do you think my score could go up in the next month or two? I stopped car shopping because in the past 6 weeks, I went to three different dealers who all said I was approved, I drove away with a new car, and two weeks later they made me bring the car back because the financing couldnt be done on the terms that they had promised.  So I just want to wait for these changes to hit my credit and see where my score is at, and POSSIBLY try again at my credit union or something. I am hoping to get at least to 600. Is that unrealistic at this point? Once that stuff is cleared up from my report, the only negative item on there is a charge off from Univ of Phx for $2200.

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How many cards and other tradelines do you have? How long have your accounts been open? If both of those numbers are high, then a 2200 charge-off might not affect you so intensely. However, if you only have a few cards or they have low limits, or if your credit history hasn't been established for that long, that 2200 will make a pretty nasty impact on your score. 

I had one paid charge-off from Verizon on my report for only $191. It was my only blemish other than a 30 day late on my Macy's card. When I had it removed, my score went up about 100 points. So, that is just to give you an idea of how much a 191 charge-off can impact a score. Now, a 2200 one? It could have a huge impact or not really depending on the rest of your profile.  

[dodfire]

I think it would be pretty tough to get to 600 within the next 60 days....but give us more information about your credit as requested in the previous post. What kind of limits do you have? What was your UTL before you paid down to 30% and do you have the funds to get your UTL under 10% ?

[Burned2manybridgesB4]

OP, You're in what's called a dirty score bucket. HP's, CO, and CA's pending deletion... Regardless of the amount, a CO hurts the same, unless the balance isn't reporting $0, which usually leads to it being factored into your utilization. Overwhelming odds to see any rise, until things age, and CL's grow. It took me over a year to go from 550, into the 600 club, and that was through every option possible listed here in rebuild forum. (I'm on phone, so typing is short). Others, with real keyboards will go further into correct start. Good luck. It's a marathon, not a race.

[jdirilo]

so i went to my CU today about refinancing, and my experian is a 581. So it has already jumped significantly, and thats without the two collections being deleted yet. As far as other tradelines, i have 3 cc's, one with navy fed for $500, two with cap one, $201 and $750. ive had them for 7-10 months. and im an AU on my husbands cap one card, $300, and hes had it for almost two years(theyve never increased it). I have several student loans, all in deferrment. Thats pretty much it. i had a couple small persona l loans that are all paid. No lates in the past year or more.

[dodfire]

So you had another inquiry for your refi and that is going to drop your score. If you can get the collections deleted from the report and get your revolving UTL down to 1-9% you should see another increase in your score.