topic Re: Success at Last!!! How will this impact my score? in Rebuilding Your Credit

Success at Last!!! How will this impact my score?

zoe505 — Fri, 23 May 2014 22:36:06 GMT

I have finally gotten Jefferson capital to remove a collection from my credit reports! It was for a salute card that I opened several years ago in a failed attempt to rebuild credit. They were reporting it to the CRA monthly as a missed payment. It is now removed from all three of my credit reports. I have no more collections on my report. All I have are a few late payments....two 30 days from last year and a 120 from two years ago.

I have been using two secured cards faithfully each month..trying to keep utilization low..less than 30%. My score has been creeping up like 5 points at a time.

But with the removal of the Jefferson Capital item will that give me a big jump in my score?

Re: Success at Last!!! How will this impact my score?

gdale6 — Fri, 23 May 2014 22:43:47 GMT

@zoe505 wrote:
I have finally gotten Jefferson capital to remove a collection from my credit reports! It was for a salute card that I opened several years ago in a failed attempt to rebuild credit. They were reporting it to the CRA monthly as a missed payment. It is now removed from all three of my credit reports. I have no more collections on my report. All I have are a few late payments....two 30 days from last year and a 120 from two years ago.

I have been using two secured cards faithfully each month..trying to keep utilization low..less than 30%. My score has been creeping up like 5 points at a time.

But with the removal of the Jefferson Capital item will that give me a big jump in my score?

You will most likely get some points but will still be held down mostly by the 120 lates and the 30 day lates. The 30s will affect you for about 2 years the 120s will the entire time they remain on file, I would be GW those. 90+ lates are considered major delinquencies. Grats on the removal and keep up the good work

Re: Success at Last!!! How will this impact my score?

zoe505 — Sat, 24 May 2014 02:40:57 GMT

Thanks for the info... I need at least a 40-50 point bump to qualify for a mortgage. I have tried to get a GW on my 30 day late capital one but all I got was the pat answer of "we have to report correctly to the CRA."

Is it possible to get my credit score up with CC utilization and good payment history alone?