another where to begin. 1st post

[bobbay]

I am showing a paid collection for a trafic ticket out of state.  What is the best way to deal with this?

My apologies I am a total newb and still in the weeds with all the acronims.

Thanks.

[llecs]

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

Send a GW letter since you paid it.

[bobbay]

Thank you for the link llecs.

How do I figure out where to send the GW letter?

Also, I only have 2 revolving accounts reporting

cl since 11/06 always paid on time

cc since 11/04 always paid on time

my utilization is 90%

What type of score boost can I expect if I bring these down to 10% util?

[llecs]

You'd send a GW to whomever is reporting it. I'd start with the address(es) listed within your CRs. Over time if you aren't seeing success then send it to addresses listed on their website, privacy policy, within your and their state registration info, etc.

If oyu pull your FICO report it'll list the top items that hurt your FICO the most. If util is ranked in the #1 or #2 slot don't be surprised if you see gains approaching 50-70-90+ depending on the report. Conversely if util is last on the list or not listed at all, then gains would be much less. I personally went from 89% to 1% with util at the #1 slot and I gained 125 on my EQ FICO and 75 on my TU FICO. 

[DaBears]

+1 @ llecs. Get that util way down. Fico is seeing you maxed on your credit cards and dinging you bad with points. 

[bobbay]

ok so I got the scores on 7/12/13 from transunion and it is as follows.

TU=641

EQ=646

EX=694

These are faco's.  I apped for Amex green, thinking I had a shot since I had a card back in 93 in college, and got shot down.  They pulled EQ of 613.  I think because the cc cycled with a high balance even though I pay in full every month.  I apped capone quicksilver One rewards and got the 7-10 day wait pending review.  Apped the Barclays Rewards and got the 7-10 day review and got depressed and apped creditone and got an instant approval of $1500.  It is going to be a sock drawer card and one cup of coffee per month for a year.  I feel better even though alot of people don't like the fees because this will help speed up the utilization drop for me.

I realized paying in full after the bill cycles does not help(with the utilization) so I paid down the CC I have before the cycle to show $55 bal instead of $1400, so that should help.  I am going to focus on paying down the revolving line of credit next.  My goal is to get it  down to couple of hundred to get the util down and chill for a bit to see what happens.

Is there a way I can monitor things instead of paying everytime I want to look at my report?

Oh yeah,  Thanks all for the comments I am learning lots of quirks in the scoring process with all the help here.

[bobbay]

OK so I got a judgement removed from TU

Capone quicksilver one rewards was approved for $1000 and still waiting for Barclays rewards mc

I am thinking I should chill for a bit.  Should I wait a few months so these can report on my credit reports?  I also picked up score watch and it is showing me at 605 so I am curious to see what happens as utilization drops.