Baddies

[duckman]

This question is for anyone but I would like to hear what Brammy has to say also.  Hi all.  I have a question about old baddies.  I have not been late on a payment for close to 4 years.  But, I have one unpaid tax lien (2 years to it being paid off and showing released), one paid Wash Mutual/Providian account that was in charge-off status as of late 2002 (sold in 2004 and paid balance to LVNV), and like I said,  four 30-day lates in 2003.  I have 7 low limit credit cards that have a positive pay history for 4 years.  My utilization is around 65% on each.  Is it possible for me to have fico scores in 700's with this credit report??  The fico simulator says to expect from 718 to 758 on Trans Union and similar on Equifax if I pay down credit card balances.  IS THIS ACCURATE WITH MY UNPAID TAX LIEN AND OTHER BADDIES LISTED ABOVE?   CAN I GET PRIME CARDS WITH THOSE SCORES AND THE BADDIES SHOWING?  Any info would be helpful. 

Note:  Wash Mutual/Providian does not show that I paid account to LVNV, but only shows charge-off with $0.00 balance. 

Thanks so much. 

[Anonymous]

Since I don't know all of the factors that go into the score,  I can give a run down on my report today.  I have a bk file in 2000 discharged 2001 (I don't think anything is worse for the credit profile) I have one baddie scheduled to fall ff in Nov of this year.  I do believe the scores are possible simply because with simple lowering my utilization, by both applying for cards with higher credit limits, and paying down balances in the past three months my score has gone from 620 to over 680 on eq, from 615 -702 on TU since Sept (with 2 paid off baddies).  I still believe it has some climbing to do because two low balance cards that were paid off have not yet reported which may not decrease the utilization by much but WILL decrease the number of cards I have balances on.

Prime cards usually look at your baddies for the past two years and anything unpaid.  The only thing they seem to consider outside of those parameters are things like BK and maybe liens (blackilisted BKs for 7 years probabaly less for a lien especially if its paid off).  Get your uti down and them apply.  I would suggest compiling a list from the one you want most to the least and doing a one day apporama online.  That way if you get the one you want you can stop on your first submit.

Good luck

P.S. The reason I believe my scores are not higher is that all of my open cards have been opened for les than a year.  I held on to my first subprime card for too long until I got tired of the subprime treatment.  After being rate-jacked for no apparent reason I got mad and started learning.  I closed that card Sept of 2006- My scores were mid 500s to low 600s.

Message Edited by Brammy on 04-08-2007 02:09 PM

[duckman]

Thanks for the reply Brammy.  I never realized before how important high utilization is to killing a fico score.  I agree that I should probably apply for prime cards in one night or so to minimize damage to fico.  Do you think that instant online apps are the way to go with the tax lien?  Think I should attach a letter explaining that lien will be paid off in 18 to 24 months to credit file?  Will that help when lenders look at credit report??  Any suggestions on which cards to apply for? 

Again, thanks for the reply.