Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
Re: What will impact my score more?

OP, I split your post to form a new one here. I had to edit the title, but changed nothing else. If you'd like to change the title, click "Options" and then "Edit Message". In the future, if ever wanting to start a new thread, go to the board you want to post in (e.g. Understanding FICO Scoring, Credit Cards, etc.) and click "New Message".


To answer your question on score impact, the answer is YMMV (your mileage may vary). In almost every case, getting a collection agency (CA) to delete will raise your FICO scores. There is no benefit in having a CA report. Charge-offs can be different. They still factor into your length of history. From personal experience and from the experience of others in here, sometimes the age of the account helps your credit more than the baddie of that charge-off hurts. If the account is older than your AAoA or among your oldest accounts, then removing it could negatively impact your score. If the CO is younger and/or the baddie is newer, then removing it would help. It all depends on the age and hot it reports, especially in the relation to the rest of your credit.


Paying off revolving debt is the fastest way to improve a FICO score. If you look within your FICO report and if utilization is listed in the #1 or #2 slot, then you can see some significant gains just by paying off CC debt.