how to improve my score ?help please

[Anonymous]

ok my credit cards all at zero balance but one card was 30 days late in 2001,another 60 days in 2006,another 90 days in 2006,another 60 in 2006 and i have loan charge off paid and a collection wich is paid. since last year my credit score is at 629 643 and 649 why i`m not going no higher please help.

[Anonymous]

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jcastor24 wrote:

ok my credit cards all at zero balance but one card was 30 days late in 2001,another 60 days in 2006,another 90 days in 2006,another 60 in 2006 and i have loan charge off paid and a collection wich is paid. since last year my credit score is at 629 643 and 649 why i`m not going no higher please help.

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You have two 60s and a 90 that are less than two years old.  Any late payment greater than 30 days is a major derogatory.  A single 90-day late payment can hurt your FICO as much as a collection.

The word is that a 30-day begins to have less effect after one year, a 60-day after two years, a 90-day after three years, etc.

How old are your collection and chargeoff?  The fact that they are paid does not reduce their negative effect on your FICO.

[Junejer]

jcastor, those lates are killing you as cheddar stated. Another perspective on the 30 day lates. Within the past two weeks or so, I got a 30 day late (status) removed from my EQ & TU. It never showed 30 days in the actual reporting section. At any rate, when it removed, my EQ went up 26 points and TU went up 43 points. The lates would have turned three in April.

[Anonymous]

ok i got it , last month i called cap1 to remove a  30 days late the supervisor was nice she did get it off my score went up 9 point now i`m working on the other 2 cap1 card .

                      thank you guys for your help in this forums.

[rom828]

Cheddar wrote: 

"You have two 60s and a 90 that are less than two years old.  Any late payment greater than 30 days is a major derogatory.  A single 90-day late payment can hurt your FICO as much as a collection.

The word is that a 30-day begins to have less effect after one year, a 60-day after two years, a 90-day after three years, etc."

This could certainly explain why my score hasnt moved upward very quickly! I have aProvidian PAID CO. Was supposed to show closed by consumer, but that's another story--anyway, paid without missing every month from 11-03 to paid off 11-05.  Ran 2 myfico reports in 2005 and both showed that account's payment history as "OK" for each month from 11-03 to date of the report.  Ran a complete myfico report in Feb 2008, and it now shows (as reported 1-06) that I have 34   90 day lates (shows from Nov 2005 to jan 2004, which is 22, so would also include others from 2002 and 2003 prior to closing acct.  My 'recent pyt history' now shows "R/F" for all of 2004 and 2005, exept 12-05 shows "ok' (made last pyt 11-05).  Shows 1 60 day and 2  30 days also, which I know were in 2002.

I was advised on another post that this showing the 90 days is the bureaus' interpretation (not FICOs) and if I were able to get Providian to somehow change how it's reported, it could reset the date for deletion,  which is now  10-09. 

Since this is a "bad debt/collection account AND has 34  90 day lates, I assume this is really killing my score!!?? 

I'm scared though to try to dispute or contact Providian if I risk causing it to stay on my report longer.

I wrote you on another post re: utilization, and would appreciate any thoughts you have onthis issue also!!  thanks!!

Message Edited by rom828 on 03-04-2008 09:18 AM