Score increase for becoming current?

[sunshine24]

Due to a divorce in 2007, I fell behind in a number of bills (up until then I had 800+ scores!). I went on payment plans with Citibank and Chase and have been making my payments on time for years, slowly chipping away at the balances. The worst on my report right now is BofA card that I had to go on a payment plan. For 2 years I have been 90-120 days behind on my payments and it reports each month. I've been working on rebuilding my credit this year. I have two low limit Capital One cards that I have always kept good and an auto loan opened in 2007 with a perfect payment  history. I have a small medical collection in dispute. This month, I paid the entire past due balance with BofA and am current, waiting for it to report. I am dying to know how much this will improve my score and the waiting is killing me. Any guess as to how much a score can increase for becoming current after being behind for over 24 months?

Current scores: EQ 608 (FICO) TU 646 (FICO) EX 631

[llecs]

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@sunshine24 wrote:

Due to a divorce in 2007, I fell behind in a number of bills (up until then I had 800+ scores!). I went on payment plans with Citibank and Chase and have been making my payments on time for years, slowly chipping away at the balances. The worst on my report right now is BofA card that I had to go on a payment plan. For 2 years I have been 90-120 days behind on my payments and it reports each month. I've been working on rebuilding my credit this year. I have two low limit Capital One cards that I have always kept good and an auto loan opened in 2007 with a perfect payment  history. I have a small medical collection in dispute. This month, I paid the entire past due balance with BofA and am current, waiting for it to report. I am dying to know how much this will improve my score and the waiting is killing me. Any guess as to how much a score can increase for becoming current after being behind for over 24 months?

Current scores: EQ 608 (FICO) TU 646 (FICO) EX 631

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Welcome to the forums!

Unfortunately, FICO really doesn't award for being current, but will ding for being late. If paid to $0, it'll still show as a paid CO or paid major derog due to the lates. However, one big component to FICO scoring is utilization. If that card was factoring in negatively into CC utilization, then paying it off could result in a score increase.

[sunshine24]

Thanks for the reply! It reported already, probably due to my pestering the bank to report it quickly. Unfortunately it's an account I closed a long time ago (before I knew that was a no-no) so it doesn't affect my utilization, it only reports my payment each month. I pulled my TU FICO and it's only up from 646 to 651, so it gave my 5 points but at least it went over the 650 mark, right?  

[Anonymous]

Not sure but my last late was July 2010 (30 days) and my lender said I would get a little bump for having no lates in the last 12 months.  My score did go up but it's hard to tell if that helped.