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New Member
thomasb87
Posts: 4
Registered: ‎11-29-2012

Score Increase Potential???

Wondering if anybody can give me a ballpark estimate on how much increase I may see from the recent changes I've made. Here's a quick rundown of my situation...

 

I just got a PFD agreed to by a CA. (The account was from 2010)

Was just added on a 10 year old CC account that has good payment history and zero balance

 

My current scores are EX 634 EQ 563 TU 563. With that said the collection that will be deleted wasn't reporting to experian. Would it be completely unreasonable to hope for my other scores improving to a similar level?

 

Frequent Contributor
tattooedhusker
Posts: 473
Registered: ‎10-25-2012

Re: Score Increase Potential???

You should see a little boost, but it is hard to say how much. There are other factors that contribute so it's tricky to get a solid guess down.

NFCU CashRewards $13.5k | AMEX BCE $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1350 |

Scores: EQ: 676 EX: 714 TU: 720
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Score Increase Potential???

post your credit picture, let see what happening. 1 CA can not hold your score down much like that.

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
New Member
thomasb87
Posts: 4
Registered: ‎11-29-2012

Re: Score Increase Potential???

For further reference here is some more info on my credit

 

Other Baddies

 

 

Paid charge off for Cap 1 with a DOFD DEC 2011

Charge off with Ford Motor Credit with DOFD SEP 2011 (settled with payment plan)

 

Accounts in good standing

 

Kay's $500 limit 25% utilization opened in SEP 2012 never late

Best Buy/HSBC $400 limit 25% untilization opened in SEP 2012 never late

Installment loan $1750 opened FEB 2012 never late

 

 

 

 

Moderator
Shogun
Posts: 12,875
Registered: ‎04-15-2011

Re: Score Increase Potential???

I could see a few points bump in your score, however due to the fact you have more negatives on your CR, you won't see a significant increase.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Member
thomasb87
Posts: 4
Registered: ‎11-29-2012

Re: Score Increase Potential???

What are my other options as far as increasing my score then? I was really hoping that these changes could get me a 620 mid score.

Moderator
Shogun
Posts: 12,875
Registered: ‎04-15-2011

Re: Score Increase Potential???

The problem is you have 2 relatively recent COs.  Maybe you could try to negotiate something with them for removal.  Have you tried a GW?


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Score Increase Potential???

Charge off with Ford Motor Credit with DOFD SEP 2011 (settled with payment plan)

what is account balace?

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
New Member
thomasb87
Posts: 4
Registered: ‎11-29-2012

Re: Score Increase Potential???

[ Edited ]

That makes sense. I've briefly tried GW'ing Cap 1 but that was definitely not met with a positive answer. As far as the Ford Motor CO that one will be even more tricky simply because there's no way that I can come up with the means to pay the debt outright ($5800)  to work for a PFD or start GW'ing (hence the payment plan).

 

What kind of timeframe could I be looking at before I start to see significant gains given a clean history from here on out?

Moderator
Shogun
Posts: 12,875
Registered: ‎04-15-2011

Re: Score Increase Potential???

Once you've finished paying Ford off, you can start the GW campaign.  Without removing those GWs, I could see maybe high 600s in a year or two once they start to age, but you won't see really good scores unless those are removed.  YMMV as always.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

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