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Jen79
Posts: 3
Registered: ‎03-21-2008
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Re: Need 6 points on TransUnion FICO score fast - any suggestions?

Okay, let me try one more time.

I have $40k in credit. I am paying off my last $4k of credit card debt. I will still have $40k in available credit once I pay that off because I have no intention of closing my credit card accounts. Do you get punished for having a lot of credit cards with no balances on them?

I also have approx. $95k in installment loans (cars & student loans). I am paying those off according to the loan terms (not any faster).

I also have a recent late payment (30 days) and an old late payment (30 days), neither of which I can do anything about.

Finally, I have a collection which was added to my report in 2003 and paid in full in 2005. TransUnion told me that I could contact the collection agency and ask them to remove the collection from my report. The collection agency told me only TransUnion can remove something from my report. They also told me that it's paid off so it isn't hurting my score.

I'm looking for advice on how to convince the collection agency that they (and only they) have the power to remove this collection from my report. Note the issue is not that they won't remove the collection but rather that they claim they can't remove it. They don't believe me when I tell them that TransUnion told me to contact the collection agency to get it removed. Is there anything I can tell them to read or look at that will show them that they are wrong?

In addition, I would really appreciate any other suggestions for improving my credit score. Thanks!
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cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Need 6 points on TransUnion FICO score fast - any suggestions?

[ Edited ]


Jen79 wrote:
Okay, let me try one more time.

I have $40k in credit. I am paying off my last $4k of credit card debt. I will still have $40k in available credit once I pay that off because I have no intention of closing my credit card accounts. Do you get punished for having a lot of credit cards with no balances on them?


You do not get punished for having "a lot of credit cards with no balance on them" per se, but you do get punished for not having a balance on ANY of your credit cards.  You should let ONE of them post a balance of 1-9% of that card's CL.
 
Nobody on this thread has said anything about closing your cards.  The advice you have gotten is to NOT pay off all of your CCs down to $0.  That is good advice, and it is the advice I am reiterating here.
 


Message Edited by cheddar on 03-31-2008 11:55 AM
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