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Valued Member
tagreen0927
Posts: 25
Registered: ‎01-06-2011

What's my best next move for max improvement? Anyone have advice?

Last year, fico score was 476 (ouch), now at 659.  Not bad progress, but still have work to do.  Here's what is left on my credit reports.  Anyone have advice on where I should focus my efforts for biggest improvement?

 

Positive Items:

 

Visa (had since 1994), $7000 credit limit; $6400 balance -- trying to get to <$3,000 (never late)

Personal Loan (high balance $4000; $3200 balance) never late

Direct Lending Student Loans ($8000) never late

six car loans over last 20 years all paid off never late

three paid mortgages (never late)

 

Should be reflected by May 1

 

Wells Fargo                 Positive mortgage hasn't reported on any credit report since 2010.  WF Executive Offices just fixed the error, should appear by May 1

Medical Collection    Just received documentation it will be deleted by May 1

 

Baddies; Goodwill letters sent:

 

Salle Mae                    2 loans completely rehabbed now with Direct Lending for >6 months.  SM reports $0 paid as agreed, but a series of 90+ lates in 2010.

GE/JCP                        Charged Off $0 Balance (will fall off in 9/2014)

First Premier               Charge Off - Paid in Settlement $0 balance (will fall off in 2013)

 

Frequent Contributor
bridgetkaryn
Posts: 429
Registered: ‎05-07-2008

Re: What's my best next move for max improvement? Anyone have advice?

Sallie is a really hard nut to crack but it is worth talking to someone about your account and asking for GW...

 

I would do a search for JCP/GE and First Premier and see if you can get them to delete the CO's with GW... usually if they are old which yours are they will remove them early...

 

Good luck!

Starting Score: 06/2010- EQ 464
01/2012-EQ 512
April Score: EQ 679 4/12TU- 677 EX- 699 (FAKO)
Current Score: 05/2012-EQ 691 4/12TU- 706 EX- 720(FAKO)
Goal Score: 700 by 05/2012- MADE IT!!!!


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Valued Contributor
rckstrscott
Posts: 2,659
Registered: ‎04-25-2011

Re: What's my best next move for max improvement? Anyone have advice?


tagreen0927 wrote:

Last year, fico score was 476 (ouch), now at 659.  Not bad progress, but still have work to do.  Here's what is left on my credit reports.  Anyone have advice on where I should focus my efforts for biggest improvement?

 

Positive Items:

 

Visa (had since 1994), $7000 credit limit; $6400 balance -- trying to get to <$3,000 (never late)

Personal Loan (high balance $4000; $3200 balance) never late

Direct Lending Student Loans ($8000) never late

six car loans over last 20 years all paid off never late

three paid mortgages (never late)

 

Should be reflected by May 1

 

Wells Fargo                 Positive mortgage hasn't reported on any credit report since 2010.  WF Executive Offices just fixed the error, should appear by May 1

Medical Collection    Just received documentation it will be deleted by May 1

 

Baddies; Goodwill letters sent:

 

Salle Mae                    2 loans completely rehabbed now with Direct Lending for >6 months.  SM reports $0 paid as agreed, but a series of 90+ lates in 2010.

GE/JCP                        Charged Off $0 Balance (will fall off in 9/2014)

First Premier               Charge Off - Paid in Settlement $0 balance (will fall off in 2013)

 


Obviously, the GW on the GE/JCP and the First Premier is the way to go.. You might have luck getting those removed. Those accounts are pretty old anyway, and as long as there is more than one negative factor on your report, the damage done to your FICO in your scoring bucket is really minimal at this point..

 

But you need to drop your util on that VIsa card to really see the score jump.. you are reporting a util percentage of 91 percent. This has essentially made all the positive information on this account a wash with the negative util percentage.

 

Getting it down to 3000 will help, but you really want to see this under 700 dollars to see a great boost. I understand that is alot of money so I understand shooting for attainable goals. The loans are doing nothing for your util percentage, as they don't factor, so high balance, low balance, that stuff only matters in terms of finance.

 

I went from 84 percent to 8 percent on roughly the same balance amounts, and I went from 650s to 710s in one month. So you need to really work on that balance to see the scores improve.

 

You look like you already have your game plan set. I don't think you will get many replies because you are doing everything anyone can possibly do. You have it on lock!

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: What's my best next move for max improvement? Anyone have advice?

A more minor issue, but would be worth a stamp.....

 

If the settled CO also posted a special comment of "settled for less" in your CR, you might shoot off a GW requesting they delete that special comment.

It is a negative, telling others that, in the past, you did not fully satisfy all of your prior, accrued debt.  Not helpful upon manual review of your CR.


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