06-20-2008 11:29 AM
06-20-2008 12:23 PM
06-21-2008 01:17 AM - edited 06-21-2008 01:20 AM
06-21-2008 04:51 AM
06-21-2008 05:03 AM
So if you have, say, a mortgage, a car loan, a student loan, and a CC with a 0% balance transfer that will take a while to pay off, that's four accounts with balances.
Ys is is true for my profile.
It says the high FICO achievers have an average of 3 accounts reporting a balance and they count my mortgage and car loan so that leaves me with one CC. I have had 2 CCs report a balance and I know it sounds strange but sometimes is lowers my TU score and somtimes it doesnt
Anyway I would try 2 CCs with a mortgage and autoloan and see how this works. If not then try 1. Experimenting with small balances can really help you see what is going on and will help you when you want to go after a big prize like an auto loan or mortgage/refi since you dont want to be suprised that your score drops from say 720 to 719 when you are going for an auto loan and your CC repots that $20 DVD you just bought at Best Buy.
06-24-2008 12:37 PM
09-18-2012 06:04 PM
I know this is an old thread, but I can't believe how similar our circumstances are and this gives me hope! There is a medical collection on my husband's report from 2011. Like you, I actually paid it off in full to the Medical Center a year and a half ago but the collection agency never knew. I contacted the collection agency and they wrote me a deletion letter that day. They were actually really nice and helpful! I gave it to our lender on Monday and he is working on a rapid rescore. His score is also in the 690s/670s and we need it to be over 700 to qualify for a jumbo loan.
My husband only has one credit card and his utilization was about 14%--I am paying it down to under 9%.
There was one late payment (because of an expired cc number that was set on auto-payment) but it has been changed from 30 days to 0 days past due by the car company. So, that is gone.
I hope we have the same success as you.
09-19-2012 06:06 PM
That's great to hear cimbrone! I have had 2 recent medical items deleted from my credit reports but have not checked my fico score to see if it has improved. I did this around the end of August 2012. When do you think I will see the effects of these deletions?
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.