@Jbrown700 wrote:Hey guys hows it going.. I knew to this forums and I need serious advice !
So I checked my credit report on creditscore.com and I was shocked!
My score is as follows: Exp 603, Equ 603, and TR : 615..
I currently have 2 collections.. $300 opened 4/1/2012 and $410 opened 1/1/2013.. I tried sending PFD but they both declined and said only pay in full.. I have the money to pay both off but I've been reading alot and whats going to happen is that its going to be updated for this year 2015 and my score will go down is that right? If it hasnt already been updating monthly then yes when the collection reports paid off the status date comes current and it will affect your FIco. If its updating monthly now settling it will stop the updating and it can age in the eyes of Fico.
I also have the following cards.. Macy CL $290, current balance $203 and Bestbuy CL $800 current balance $745... Next month I'm planning on paying off my macys card completely and also bringing bestbuy to $245.. That would be a good idea right? I should also tried to keep those cards under 30% ?? What you want to do is have 1 card report no more than 9% of its CL to the CRAs each month. You want to pay off the cards highest interest first to lowest.
I just got approved for a cap one card $500 limit, planning on keeping it under 30% and I have a secured one CL of $200 i will hsve that under 30%
So how can I bring up my score?? any advice on how I should be paying these cards? Paying it in full a week before its due? etc etc? any tips and tricks? Thank you so much! The way I control my utilization is I use a card or cards during the month sometimes right to the CL and I stop using each card 5 days prior to the billing date so all charges can post and I pay it off one day before the billing date. Just be sure that any current statement balance gets paid on or before the due date while you switch to doing things this way. The card I want to report a small balance I just pay down to 1-9% of its individual CL. Welcome to My Fico
