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New Member
Posts: 3
Registered: ‎10-11-2010
0

I NEED TO RAISE MY SCORE ASAP!!!

Hi all, 

 

I am in serious need of help/suggestions on what I should do to increase my scores drastically and as quickly as possible.

The only thing I have negative is a collections account from 2007 (about $1000) and a few closed account which I disputed

and should be removed soon. Other than that I have 3 Student Loans which are being paid on time every month. I can pay

off the entire Collections account by next month, but I wanted to know how long would it take to see my score Increase and

by how many points?!?

 

Please Help!!!

Thank You in advance.

Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

Hi, welcome to the forums!

 

Paying collections won't remove them from your reports, and it won't help your scores. You need to do a PFD (pay for delete.) Click on Frequently Requested Threads for examples, and read on the Rebuilding Your Credit board for more info.

 

Don't remove closed accounts that are clean!!! Why would you do this? (And by the way, it's against forums TOS to advocate disputing items that you know are correct.)

 

Meanwhile, have you pulled your EQ (Equifax) and TransUnion (TU) FICO scores? The score reports that you get here at this site will list the negatives hurting your credit, in order. It's possible that the collection is number one, but if there are other items, such as high revolving utilization, you can work on those, and that will help.

 

Have you read around here to know how FICO credit scoring works? There's a lot of misinformation out there, especially on the 3-in-1 monitoring services like TrueCredit and the Experian services with truly bad advice.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator
Posts: 17,419
Registered: ‎07-14-2009
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

 


KnocKout1 wrote:

Hi all, 

 

I am in serious need of help/suggestions on what I should do to increase my scores drastically and as quickly as possible.

The only thing I have negative is a collections account from 2007 (about $1000) and a few closed account which I disputed

and should be removed soon. Other than that I have 3 Student Loans which are being paid on time every month. I can pay

off the entire Collections account by next month, but I wanted to know how long would it take to see my score Increase and

by how many points?!?

 

Please Help!!!

Thank You in advance.


 

Welcome to myFICO,

 

To follow up a little to what HTSU said what is your score at this time and where did you get it? As she said there are only a few places you can buy true FICO credit scores. Many. many sites will sell you "credit scores" but these are not FICO scores.

 

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU in Pennsylvania that supplies that information to it's members only. One place you can buy Transunion and Equifaxw scores is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money. You can also purchase your Transunion score at www.transunioncs.com. At www.equifax.com Equifax will still sell you an Equifax FICO score but they make it very hard to find.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


New Member
Posts: 3
Registered: ‎10-11-2010
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

Hi,

 

I have not yet purchased my Scores. I plan on doing so but I don't know which one would be best to purchase...I am in the process of trying to get a business line of credit and that is why I need to get my Scores to increase and negative things from my Reports removed. What would you suggest?

Moderator
Posts: 17,419
Registered: ‎07-14-2009
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

 


KnocKout1 wrote:

Hi,

 

I have not yet purchased my Scores. I plan on doing so but I don't know which one would be best to purchase...I am in the process of trying to get a business line of credit and that is why I need to get my Scores to increase and negative things from my Reports removed. What would you suggest?


 

Look for a discount code on the internet and myFICO is a good place to buy your Transunion and/or Equifax score. That way you will have a baseline score to begin with. You'll also get credit reports but those reports though aren't as complete as the free ones you get from annualcreditreport.com.

 

If you are thinking about credit monitoring here is a good CMS Guide.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


 

 

 

Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
0

Re: I NEED TO RAISE MY SCORE ASAP!!!


KnocKout1 wrote:

Hi,

 

I have not yet purchased my Scores. I plan on doing so but I don't know which one would be best to purchase...I am in the process of trying to get a business line of credit and that is why I need to get my Scores to increase and negative things from my Reports removed. What would you suggest?


I would suggest starting with a little light reading.  Hit the education tab up top and spend an hour in there.  And hit the link in Hauling's reply to your post.  When you're ready, post specific questions and we'll be glad to give it our very best shot.   Lots of us have been in your shoes - dig in a little and we'll help you as you go along.  You'll have to take some time and it'll take a little effort on your part, but it will be worth it.

Just puttin' syrup on something, don't make it pancakes.
New Member
Posts: 3
Registered: ‎10-11-2010
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

Thank you everyone who replied, I truly appreciate it. Its just that A LOT of people (myself included) are unaware of how important Credit is and why it is crucial to maintain a good standing with the Bureaus. I learned on my own by falling into the "plastic world" trap when I started college and now I am educating myself to dig myself out. I now understand that having less than average credit is no joke. But the good thing is that I am starting the "rebuilding" process now while I'm still young so that in the future I will not have problems with those who require credit checks. This is a work in progress and I am thankful that you guys have these forums for people with questions similar to mine. 

Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
0

Re: I NEED TO RAISE MY SCORE ASAP!!!

Congrats KnockOut1

 

I wish I knew back then what I know now!  You'll be light steps ahead of many of us - way to go!

Just puttin' syrup on something, don't make it pancakes.
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