How long will FICO score stay stagnant?

[veracious]

At present I have no open credit  cards.

I just paid off two credit cards in January. I have one installment (car loan)  I've been  paying on since 2006.

So my question is, how long will my present score last  at its  current number ?

My goal is to wait for one closed CCC to remove the lates they promised, then start opening new credit

with a clean report....     Is this a good strategy??

Thanks for any replies.

[smallfry]

I might wait myself if you think the negative will come off fairly soon. As for your score goes depending upon a bunch of other factors don't expect much in the way of a score increase so long as the report is dirty.

[veracious]

Thanks ,Smallfry.

So,   you're saying when the lates are removed from my reports at all three CRA's, I don't necessarily have

to rush right out and open new credit lines?

BTW, I already had one credit line removed through GW and saw no score change.

I imagine there may not be a score jump for the second removal unless they also remove the tradeline.

Perhaps my AAoA will be lowered resulting in a score loss?? If that happens then I'll have a pretty thin but clean file.

Which route would you take??

veracious

[Jazzzy]

I would wait until your reports are as clean as you can get them....and then I'd apply for a credit card.

I find that often times your score isn't as affected by things that come off your reports as it is by the things that are still there.

A thin but clean file, in my opinion, is better than a fat but dirty one. When things get cleaned up, an open credit card should help your score.

[veracious]

Thanks for responding LynetteM.

You just told me exactly what I wanted to hear.       I should stay the course, I guess there is no big hurry to rebuild.

I have at least a year brfore another home purchase.

  Thanks,  veracious.