@Anonymous wrote:
I currently have 15 derogatory items on my report. 14 are paid, one to go. My 3B Fico is 582/595/573. I have 4 credit cards in excellent shape, and an 72 month auto loan I paid off in 12 months (should have gone longer, but the interest was a killer). I also have about 6 other closed accounts that were great and still reporting my AAoA is +12. All of my derog's will drop off over the next 14 months, most dropping by March 2017. Will my score increase with each drop, or will it fully not jump until all are gone. Also, by the time all are gone my 4 current cards will be 1-2.5 years old. I do plan on getting 2-3 more if possible. Thoughts?
Step function, you may get a handful of points every so often but the major jump will be when the last one comes off. For reference I gained 6 points on FICO 8 and 0 on FICO 04 for my collection coming off as I still have a tax lien on the report. Similarly when I had two tax liens, when the second came off of also gained around 5 points.
Focus on getting clean not on the small score bumps.
Personally I wouldn't bother getting more CC's right now with your current credit score when you're talking a year and small change to get clean and you'll be able to qualify for whatever your income allows at that point; however, I would go and pull the secured loan trick in your shoes:
Method:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secure-technique/m-p/4506756#U4506756
Anyway if you don't open a slew of "silly" accounts now and do use the installment loan reindeer game, you'll likely be on the order of 780-800 FICO 8 from what you posted when clean in roughly June 2017 assuming your revolving utilization is likewise optimized at that point.
