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My rebuilding is stuck...

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Anonymous
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My rebuilding is stuck...

I guess now it's just of matter of time. I started one year ago with a MyFico around 530-550.

 

One year later I'm hovering around 650's-670's.

 

In this past year:

 

-I've added 5 credit cards for a total of about $30k

-I've deleted 2x collections (1 remains as paid as Midland is not budging)

-I've had 1x CO dropoff via EE (I still have 4x paid CO's, 3 that drop off in mid-2016 and one in mid-2019)

-All payments in the past year have been on-time, but I'll be living with about 10x "30 days" and 2x "120 days" for another 5 years

-I've had an auto loan in the mix (this was opened about 3 years ago)

-I've written TONS of GW letters with no success, so I think I've exhausted that route

 

So, in 2016 I can look forward to:

-3 paid CO's dropping off

-1 collection dropping off

 

But, until 2020 I will still have:

-1 paid CO

-10x "30 days" and 2x "120 days"

 

It stinks because I know even with CO's and paid a Collection dropping off in 2016, it will most likely have a minimal impact to my score and that I won't be able to join the 700 club until close to 2020 (since I will still have those other baddies bringing me down).

 

And I feel like there is really nothing else I can do to "boost" more score except pay on time and wait years Smiley Sad. It sure was fun seeing big boosts over the past year.

 

Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: My rebuilding is stuck...

You can probably reach the low 700's within two years...the 30 days effects will be less in time , but the 120's will haunt you till they fall off. Take all of your baddies off and your scores would easily be in the 750's.... I would bet in two years maybe sooner hit the low 700's..GL
Message 2 of 3
Anonymous
Not applicable

Re: My rebuilding is stuck...


@Anonymous wrote:

I guess now it's just of matter of time. I started one year ago with a MyFico around 530-550.

 

One year later I'm hovering around 650's-670's.

 

In this past year:

 

-I've added 5 credit cards for a total of about $30k

-I've deleted 2x collections (1 remains as paid as Midland is not budging)

-I've had 1x CO dropoff via EE (I still have 4x paid CO's, 3 that drop off in mid-2016 and one in mid-2019)

-All payments in the past year have been on-time, but I'll be living with about 10x "30 days" and 2x "120 days" for another 5 years

-I've had an auto loan in the mix (this was opened about 3 years ago)

-I've written TONS of GW letters with no success, so I think I've exhausted that route

 

So, in 2016 I can look forward to:

-3 paid CO's dropping off

-1 collection dropping off

 

But, until 2020 I will still have:

-1 paid CO

-10x "30 days" and 2x "120 days"

 

It stinks because I know even with CO's and paid a Collection dropping off in 2016, it will most likely have a minimal impact to my score and that I won't be able to join the 700 club until close to 2020 (since I will still have those other baddies bringing me down).

 

And I feel like there is really nothing else I can do to "boost" more score except pay on time and wait years Smiley Sad. It sure was fun seeing big boosts over the past year.

 


Yes, as pacman noted, 30 day lates lose most, if not all, of their impact after 24 months. You should see bumps as each ages past 24 months. You may see a decent jump when the last collection is gone, as long as your UTI is good. You can get over 700 with derogs, it generally take about 2 years of perfect payment history, and addressing all old accounts so they are not updating, and no revolving CO's show a balance.

Message 3 of 3
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