Fastest way to 700+ score? Please help!

Anonymous · ‎11-16-2017

I am new here and learning. Here is my question. I have about $3,000 in total debt owed in collection accounts on my fico8. My question is what happens to my scores if I simply pay them off in one fell swoop? Is there something else preferable ? What would gain me the most points in the least amount of time?

I have only had 2 or 3 late payments more than 30 days depending on which of the top 3 reports you are looking at but never more than 3 and never less than 1 year and 10 months ago.

I also have very recent credit of Comenity bank cards (5 of them all with limits of 250 each) to include Ann Taylor Ny & C Victoria secret Coldwater and Boscov's

and the following credit cards

Surge with a 500 limit (maxed)

Opensky with an 800 limit (maxed)

First Premier with a 300 limit (maxed)

Milestone with a 300 limit on the way to me as I wrote this

all a couple months or less old. Thoughts of what is best to do to hit my credit score goals?

Unless advised otherwise I plan to by months end or in December to pay off all cards and close 3 of the 5 store cards since I believe the low CL's will hurt me moving forward in more ways than one. I also plan to pay off all collection accounts and maybe try PFD (pay for delete) as I have learned by reading on this site which I am very thankful for. I am wondering if I am on the right track?

Please help with any and all tips or suggestions

Thanks in advance I greatly appreciate any help

Revelate · ‎11-17-2017

Post over in Rebuilding the specifics of your collections; different CA's have different strategies potentially and it's worth looking at all the options available.

What other cards do you have open besides the ones mentioned? FP is worth axing regardless with their fee structure, but I wouldn't go under 3 cards though I agree small limit store cards aren't ideal closing them right now might not be a great solution either.

Pay off all your cards except one, and leave just a small balance on that for instant-in-time FICO score maximization. Your lates are going to depress your score for a good long while, but potentially not that much... I have a 2 year old 30D late on TU and you can see my scores in the signature but I probably have more positive history than you but you are on your way towards generating that with your current accounts.

Also look into the shared secure loan technique that's documented on here, that's nothing but goodness if you don't have other open installment loans (or if you do, ignore it as the thread explains).

Beyond that strategic applying for new accounts (not just random stuff like FP) and getting those lates either GW'd off (also in Rebuilding) or just aged will help as time passes. Most of short-term FICO increases is paying down revolving balances, and getting any negative information you can completely off... long-term it's just paying on time every time, never less than the minimum and letting time heal all credit wounds.

Anonymous · ‎11-17-2017

Post your profile exactly and we can help you forecast.

I need:

* Open credit cards listed individually with opening date, credit limit and balance each
* Chargeoff accounts with opening date, balance due
* Collection accounts with last update, balance owed
* Any public records like bankruptcy or lien
* Open installment loans, with original balance and current balance

Having this data we can help you forecast what you need to do to get to 700+

Knowing your current FICO8 scores would also help. Don't quote useless vantagescores from credit karma or the like.

Anonymous · ‎11-17-2017

Thank you I will post everything you asked for as soon as I can I really appreciate your help.

Thanks again and I am excited to hear what you have to say once you know my profile thanks again!!!

Anonymous · ‎11-17-2017

1/2

I tried to present every detail but please let me know if I overlooked something and again thank you for taking the time to help I appreciate it!

My scores in my signature are current and are from my fico called FICO® Ultimate 3B+I think I pay $29.95 monthly anyway here is the report: (I have no public records or bankruptcy) Currently my opensky with a 800 cl is maxed out and so is my surge and first premier.

Here is what I owe on each store card which have identical 250 cl's

NY&C 185.00 balance

Coldwater 60.00 balance

Ann Taylor 154.00 balance

Victoria Secret - 193.00 balance

Boscov's- 45.00 balance

all as of today

Questcare Hospitalists McP

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXXXXXXX5844

ORIGINAL LENDER

Questcare Hospitalists McP

AGENCY NAME

608YC00000

Paramount Recovery Sys

DATE ASSIGNED

09/29/2016

ORIGINAL BALANCE

$236

CURRENT BALANCE

$236

RESPONSIBILITY

Individual

STATUS

Unpaid

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Consumer disputes this account information

Me0dical

Account information disputed by consumer

–

Questcare Hospitalists McP

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

ORIGINAL LENDER

Questcare Hospitalists McP

AGENCY NAME

Paramount Recovery Sys

DATE ASSIGNED

09/29/2016

ORIGINAL BALANCE

$27

CURRENT BALANCE

$27

RESPONSIBILITY

Individual

STATUS

Unpaid

–

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Consumer disputes this account information

Medical

– –

Santaella Surgical Services

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXXXX6300

3095XXXXXXXXXX

ORIGINAL LENDER

–

Santaella Surgical Services

AGENCY NAME

682YC00000

Rs Clark Asc

Rs Clark And Associate

DATE ASSIGNED

07/01/2016

ORIGINAL BALANCE

$494

CURRENT BALANCE

$494

RESPONSIBILITY

Individual

STATUS

Unpaid

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Medical

Placed for collection

–

Texas Medicine Resources

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

–

XXXXXXX

ORIGINAL LENDER

–

Texas Medicine Resources

AGENCY NAME

–

United Revenue Corp

DATE ASSIGNED

–

03/26/2016

ORIGINAL BALANCE

–

$1,100

CURRENT BALANCE

–

$1,100

RESPONSIBILITY

–

Individual

STATUS

–

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

– – –

Texas Radiology Associates

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

–

XXXXXXXXXXXXXX2238

T710XXXXXXXXXXXXXXXX

ORIGINAL LENDER

–

Texas Radiology Associates

AGENCY NAME

–

Cmre Finance

Cmre. 877-572-7555

DATE ASSIGNED

–

02/01/2016

ORIGINAL BALANCE

–

$517

CURRENT BALANCE

–

$517

RESPONSIBILITY

–

Individual

STATUS

–

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

–

Account information disputed by consumer

–

Texas Radiology Associates

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

–

XXXXXXXXXXXXXX3747

T710XXXXXXXXXXXXXXXX

ORIGINAL LENDER

–

Texas Radiology Associates

AGENCY NAME

–

Cmre Finance

Cmre. 877-572-7555

DATE ASSIGNED

–

09/21/2015

ORIGINAL BALANCE

–

$59

CURRENT BALANCE

–

$60

RESPONSIBILITY

–

Individual

STATUS

–

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

–

Account information disputed by consumer

–

Texas Medicine Resources

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

–

XXXXXXX

ORIGINAL LENDER

–

Texas Medicine Resources

AGENCY NAME

–

United Revenue Corp

DATE ASSIGNED

–

08/26/2015

ORIGINAL BALANCE

–

$1,157

CURRENT BALANCE

–

$1,157

RESPONSIBILITY

–

Individual

STATUS

–

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

– – –

Lvnv Funding Llc

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXXXXXX6329

4447XXXXXXXXXXXX

ORIGINAL LENDER

Lvnv Funding Llc

12 Credit One Bank N A

Credit One Bank N.A.

AGENCY NAME

–

Lvnv Funding

Lvnv Funding Llc

DATE ASSIGNED

08/01/2015

07/13/2015

ORIGINAL BALANCE

$728

CURRENT BALANCE

$728

RESPONSIBILITY

Individual

STATUS

–

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Consumer disputes this account information

Collection account

Account information disputed by consumer

–

Portfolio Recovery A

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXXXXXXXXXX1738

XXXXXXXXXXXX1738

6369XXXXXXXXXXXX

ORIGINAL LENDER

Portfolio Recovery A

08 Webbank

Webbank

AGENCY NAME

–

Portfolio Rc

Portfolio Recov Assoc

DATE ASSIGNED

07/01/2015

03/30/2015

ORIGINAL BALANCE

$1,196

CURRENT BALANCE

$1,196

RESPONSIBILITY

Individual

STATUS

–

Collection account

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Consumer disputes after resolution

Collection account

Dispute resolved-customer disagrees

Dispute Resolved - Consumer Disagrees

Questcare Hospitalists McP

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXXXXXXX2861

–

MACSXXXXXXXXXXXXX

ORIGINAL LENDER

–

Questcare Hospitalists McP

AGENCY NAME

608YC00000

–

Paramount Recovery Sys

DATE ASSIGNED

06/18/2015

–

06/18/2015

ORIGINAL BALANCE

$416

–

$416

CURRENT BALANCE

$416

–

$416

RESPONSIBILITY

Individual

–

Individual

STATUS

Unpaid

–

Account seriously past due date/account assigned to attorney, collection agency, or credit grantor's public collection department

COMMENTS

Consumer disputes this account information

Medical

– –

10 Atmos Energy

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

–

XXXXXXX

–

ORIGINAL LENDER

–

10 Atmos Energy

–

AGENCY NAME

–

Dynamic Rec

–

DATE ASSIGNED

–

01/08/2015

–

ORIGINAL BALANCE

–

$555

–

CURRENT BALANCE

–

$555

–

RESPONSIBILITY

–

Individual

–

STATUS

–

Collection account

–

COMMENTS

–

Placed for collection

–

Coserv

EQUIFAX TRANSUNION EXPERIAN

ACCOUNT NUMBER

XXXXXXXX

ORIGINAL LENDER

Coserv

10 Coserv

Coserv

AGENCY NAME

682YC04711

Crd Prt Asso

Credit Protection Asso

DATE ASSIGNED

11/20/2014

ORIGINAL BALANCE

$190

CURRENT BALANCE

$0

Anonymous · ‎11-17-2017

2/2

I have no public records or bankruptcy and my current scores are EQ-543 TR-553 EX-543 as of 11/09/2017

–

RESPONSIBILITY

Individual

STATUS

Paid

Payment after charge off/collection

Paid account/was a collection account, insurance claim or government claim or was terminated for default

Here are my current open good standing accounts all of which are less than 2 months old and others

FICO Score 3B Report – 11/09/2017

SCORES

ITEMS TO REVIEW

CREDIT DATA

Accounts

13

Collections

12

Public Records

0

Inquiries

8

Personal Info

company name

All Accounts

All Types

Newest First

First Premier

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$223

CREDIT LIMIT

$300

CREDIT UTILIZATION

74%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Comenity Bank/Anntyl

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$177

CREDIT LIMIT

$250

CREDIT UTILIZATION

71%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Comenity Bank/Nwyrk&

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$209

CREDIT LIMIT

$250

CREDIT UTILIZATION

84%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Comenitybank/Victori

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$91

CREDIT LIMIT

$250

CREDIT UTILIZATION

36%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Comenitybank/Coldwat

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$86

CREDIT LIMIT

$250

CREDIT UTILIZATION

34%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Comenitycapital/Bosc

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

11/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$152

$71

CREDIT LIMIT

$250

CREDIT UTILIZATION

61%

28%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Celtic Bank Corp.

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$180

CREDIT LIMIT

$500

CREDIT UTILIZATION

36%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Capital Bank

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

11/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

This is an account in good standing

WORST DELINQUENCY

None Reported

No update received

BALANCE

$611

CREDIT LIMIT

$800

CREDIT UTILIZATION

76%

2-YEAR PAYMENT HISTORY

MORE DETAILS

Credit One Bank CLOSED

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

08/2015

PAYMENT STATUS

Charge-off

Charged off as bad debt

Unpaid balance reported as a loss by credit grantor

WORST DELINQUENCY

120+ days past due

None Reported

Charge Off/Other Derog

BALANCE

$0

–

CREDIT LIMIT

$400

2-YEAR PAYMENT HISTORY

OLDER DEROGATORY EVENTS

MORE DETAILS

Fingerhut/Webbank CLOSED

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

11/2016

04/2015

PAYMENT STATUS

Charge-off

Charged off as bad debt

Unpaid balance reported as a loss by credit grantor

WORST DELINQUENCY

None Reported

Charge Off/Other Derog

BALANCE

$0

CREDIT LIMIT

–

$800

–

2-YEAR PAYMENT HISTORY

OLDER DEROGATORY EVENTS

MORE DETAILS

Discover Financial Servi CLOSED

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

–

09/2016

–

PAYMENT STATUS

–

30 days past due

–

WORST DELINQUENCY

–

None Reported

–

BALANCE

–

$0

–

CREDIT LIMIT

–

$1,600

–

2-YEAR PAYMENT HISTORY

MORE DETAILS

Thd/Cbna CLOSED

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

10/2017

04/2017

PAYMENT STATUS

Pays account as agreed

Paid or paying as agreed

Account paid satisfactorily

WORST DELINQUENCY

None Reported

No update received

BALANCE

$0

–

CREDIT LIMIT

$500

2-YEAR PAYMENT HISTORY

MORE DETAILS

Verizon Wireless/Sou

EQUIFAX TRANSUNION EXPERIAN

LAST UPDATED

04/2017

–

PAYMENT STATUS

Charge-off

–

WORST DELINQUENCY

None Reported

–

BALANCE

$835

–

CREDIT LIMIT

$835

–

CREDIT UTILIZATION

100%

–

MORE DETAILS

Anonymous · ‎11-17-2017

I was approved for a Milestone credit card with a 300 limit that is on the way and also a Discover it secured card which I have not funded but like the idea of having a larger limit card as I plan to put 2000-2500 on deposit for it but I will listen to your thoughts . I just thought a 2000 or 2500 Discover secured card was better than to keep the surge/first premier cards

Thanks again I will eagerly wait your reply

Anonymous · ‎11-17-2017

Thank you for your help and information. Your scores are very impressive anywhere near them would be a dream haha but I am willing to work towards that gold and take the time needed to get there. You are right I was applying for anything and everything just to start the credit process again. I was thinking I would like to close most of teh store cards and keeping one or two only for teh credit mix and then maybe funding the Discover it card for 2000 or 2500 and then maybe closing FP and/or surge and then stick with those until much later and in teh interim do as you said as far as paying off all my cards except carrying a small balance on one and letting some time pass to see where my score goes then?

I also have never done PFD before but that is a good idea and I will try it once I have the money ready to pay. I have 6 collections on 1 agency and 7 on anotehr and I think 9 on Ex and will pay those off and think as you said paying those collection accounts and possible getting tehm deleted and paying off all debt except 1 will do a world of good for my scores

Thanks again

Dan

Anonymous · ‎11-17-2017

Awesome data. I'm mobile but will be at a desktop tomorrow and I can crunch the numbers and we can all help you attack this in a reasonable amount of time!

Anonymous · ‎11-17-2017

Great move getting the discover and thinking about ditching first progress and surge - FP really just strikes me as totally predatory, and you'll love discover they're great ESPECIALLY when it comes to the world of secured cards and subprime lenders, they're head and shoulders above most anyone else who will lend to folks like us - although capital one isn't bad either (and thanks in part to them - well actually both of them, discover AND capital one - I'm well on my way down the long road towards prime-land now, and I think you're right here on the way with me ☺).

You'll love the discover card, plus since you get all your cash back doubled the first year it's a great daily driver - just spend and pay, spend and pay, cycle through that limit multiple times a month, put everything you buy on it and rack up that cash back - actually if you do go for that higher limit and throw down $2000ish you might not even need to keep paying it down over and over every month, lol mines only at $200 hence the necessity for that 😸

Good luck with everything, I know you can join the 700 club just keep on keeping on and it'll come to you eventually! (and hopefully me too haha)