I have been working on improving credit for sometime now after some financial diffculties I had about 6yrs ago...along with being naive and in my 20's lol. I am looking to purchase a home and really want to see how high I can boost my score over the next 6 months.
I have managed to raise my score from high 400's/low 500's to where it is currently:
FICO EQ-631, TU-665, EXP-669
Mortgage Scores EQ 647(Score 5), TU 690 (Score 4), EXP 692 (Score 2)
Current Credit Profile:
Revolving Accts:
NFCU GoRewards $6.6K, $0 Balance, New Acct
NFCU Cash Rewards $10.2K, $330 Balance, 2 months old
NFCU CLOC $15k, $0 Balance, New Acct
Capitol One QS $1.5k, $40 Blaance, 2 yrs old
Capitol One QS $800, $35 Balance, 8 yrs old (authorized user)
Capitol One Platinum CHARGE OFF, Balance $743, Last Activity May09....Still reports monthly only on EQ (why scores lower)...will this fall off this May!?!?
Installment Accts:
NFCU Auto Loan: Pays as agreed, No lates, 7 months old
4 other auto loans, all paid as agreed, no lates, 3 accts from over last 4 yrs, 1 acct from 2005?
1 old repossesion, reporting by bureau is inconsistent...was repo'ed in 01/10...which reflects on EQ and TU but EXP shows bad payments through 07/11
Collections:
-Calvary Portfolio Services: Balance $6151...From old BoA CC...It says date assigned 09/28/12...this debt has to be close to 7yo, How do I figure out when this will fall off?
-Unique National Collections: Balance $40, old Library debt lol, I contacted the library and they said "Paying the the balance in full will result in the library notifing the collection agency of the payment. The collection agency will update their records to reflect full payment . Typically, within 8 wks of payment, the debt will be officially expunged from your credit report." Should I do it? I'm afraid to "wake up" a collection thats so old. Date assigned 10/03/11
-FCO, Paid for less then full balance...I've read their impossible to deal with. Its from an old apt and had to pay to get approved for a place a couple yrs ago Date assigned 03/31/2011
-Professional Account Mnagement: $65, Assigned 04/23/09, I've heard if you pay they remove from credit, but this will fall of in April correct?
I've been working really hard on rebuilding and think I'm on the right track. Just really trying to clean up to get a boost to buy a house. I've opened a few new accts with NFCU but I'm really trying to nurture that relationship with them. In the garden now...ANY SUGGESTIONS on next steps would be greatly appreciated.
Thank you!
Thanks for the response IF. I checked my reports and dont see anywhere that it shows when something will fall off? Also, do you think I need a store acct...I currently dont have one. Maybe Amazon or something if that nature, or should I just garden?
Good point Robert, thank you. I plan on going through NFCU so I can reach out to them. Also I pulled my free annual actual reports and have quite a few things falling off in the next few months...so that's exciting and I should see a pretty nice jump from that.