I need some advice on what is holding my score back.
When I found these great boards in December my EQ Fico was around 580.
Since then I have had the following baddies removed:
2 collections from CA Business Bureau(PFD)
CMRE Financal(PFD)
Asset Acceptance(BBB Complaint)
Midland(Aspire Visa, Midland deleted after letter citing FTC order)
LVNV Funding(BBB complaint)
In December I had a utilization of 81%, today it is at 5%.
My scores went from 580 to 650, where it sits now. The only 2 baddies left are 2 charge offs from First Premier. Both charge offs have a DOFD date of 7/2008. One has a zero balance, paid after charge off and the other shows a balance of $454. (Im wondering how badly the $454 balance is affecting me. Its not that relevant on my overall utill but being that it would be a card that reports as more than maxed out......is that holding my score down alot and should I get that paid off?
My AAoA on EQ is 4 years with the oldest account being 7 years 9 months.
These are the positive accounts I have and CL/Balances, date opened. I have no lates on any of these, perfect payment history.
New Millenium Visa 474/5000 2005
New Millenium MC 0/3000 2005
Continental MC 18/700 2007
Cap 1 Au 146/17500 2006
B of A Secured 0/500 11/2012
Continental Discover 0/300 11/2012
Walmart Store Card 15/300 12/2012
Macy Store Card 0/300 12/2012
TD Auto - Closed/Paid in Full original loan was $25600 Opened 2007
Wells Fargo Dealer Srv - $28,500 Opened 7/2012
My Fico shows "Serious Delinquincy" as #1 on my list of whats hurting my score and then "short credit history" as #2
I have 6 inquiries in the last year.
Since I have my overall CC utilization somewhere in the optimal range, next month I will make sure that only 1 card reports a balance and the rest at 0. It takes time to learn when all the different cards report but I have that figured out now. So besides that any other suggestions as to what I can do to get score up besides the obvious time factor?
Is the fact that I have 4 accounts opened in the past year holding down my score even though my AAoA is still ast 4 years? Can I get to 700 with the 2 charge offs still on my account until 2015?
The charge-offs are you holding you back. Paid or not, they'll keep score down. You can try to GW the paid one to get them to remove, and try for a PFD on the one you owe.
Multiple inquiries in short period of time, coupled with new accts bringing down AAoA will hurt, but the CO's are the main issue.
Multiple inquiries in short period of time, coupled with new accts bringing down AAoA will hurt, but the CO's are the main issue.
