give me some advice.
In another thread I read: "Paying the collections won't raise your score unfortunately, Fico scores paid and unpaid collections the same." Is that true even if the collections are deleted? If so, I am screwed.
I own my house so no mortgage, my car is paid for and I don't want another, I have not even one credit card and can't obtain one, my score is 639 (which I do not like and am trying to raise), After I paid off car from PFCU and my credit card through PFCU, without any warning PFCU cancelled my credit card which I had had for years and years and payments were never late on either the car payment car or credit card. Although I am retired, my monthly income is good and stable. I have no debts other than monthly utilities. I set aside every month money to pay my property taxes at the end of the year. I have been the victim of identity theft twice and was even offered the witness protection program if I had to testify in the hearing of the person they caught (a scary time).
I did have about 5 collections on the recent credit report I received which I immediately started correcting. I am hoping that the credit report for March will have most of these deleted. One I have a DV started on , because I honestly cannot remember anything connected to it. That should be the only bad entry left on my credit report. I
f credit scores are not raised by paying off the only debts listed on your credit report, what in the world do you do to raise your credit score?
Thank you, Tdbremer. I feel better now.
@IncrsCredScore wrote:give me some advice.
In another thread I read: "Paying the collections won't raise your score unfortunately, Fico scores paid and unpaid collections the same." Is that true even if the collections are deleted? If so, I am screwed.
I own my house so no mortgage, my car is paid for and I don't want another, I have not even one credit card and can't obtain one, my score is 639 (which I do not like and am trying to raise), After I paid off car from PFCU and my credit card through PFCU, without any warning PFCU cancelled my credit card which I had had for years and years and payments were never late on either the car payment car or credit card. Although I am retired, my monthly income is good and stable. I have no debts other than monthly utilities. I set aside every month money to pay my property taxes at the end of the year. I have been the victim of identity theft twice and was even offered the witness protection program if I had to testify in the hearing of the person they caught (a scary time).
I did have about 5 collections on the recent credit report I received which I immediately started correcting. I am hoping that the credit report for March will have most of these deleted. One I have a DV started on , because I honestly cannot remember anything connected to it. That should be the only bad entry left on my credit report. I
f credit scores are not raised by paying off the only debts listed on your credit report, what in the world do you do to raise your credit score?
I started with about 14 collection accounts and after 10 were deleted I saw a signifigant score jump. I still have 4 paid collections on my report and I am GW to get them removed. Keep up the good work and you will be fine. Best of luck
012019 Fico8/Mortgage Score: 
That is wonderful, newmomnewme. Congratulations on your success.
Hope my next credit report shows some a jump.
If you did get a credit card that will also improve your score.
You also may want to do a secured loan or a builder loan. These will help you in types of credit (revolving and installment). Builder loans are fairly inexpensive to get a nice bump.
Good luck!
Forgot to ask, PFCU, is this penfed? If so your scores may have dropped below the acceptable threshold they are very conservative! Join another CU and attempt to get a CC/Builder loan through them. DCU is a good one. Good luck
Yes, PFCU is penfed. I am a member of USAA and was not approved for a credit card fairly recently by USAA. I plan on calling NFCU tomorrow to ask about reopening an old account. Hopefully, they will reopen the account and after waiting a few weeks after it is reopened, I will apply for a credit card. I honestly do not understand why my credit score is so low. According to the debt to ratio calculator my debt is 2% and expendable income is 98%.
I don't know what DCU is.
Also, I want to thank you for your comments and insight, TheGardner.
NFCU will fix you up. They will likely approve a new cc and a personal loan as long as your old account was closed in good standing. Those 2 things, clearing the baddies and good old fashion time will square you away. Good luck And keep us posted!
DCU is Digital Federal Credit Union, they are a good CU with some rebuilding products. With a checking and savings account you will also get a monthly EQ Fico score!