topic Re: Credit score stalled in Rebuilding Your Credit

Credit score stalled

Anonymous — Thu, 15 Apr 2021 13:40:36 GMT

My credit score doesn't want to budge and i wanted to know what I could possibly do to make it go up.

Currently I have 4 small credit cards and the utilization is only 2%. I have one credit builder installment account with credit strong. All of my payments with my creditors are on time and no lates.

The only derogatory item is a charge off that was sold to a collection agency. The amount owed is approximately 600.00.

I am in a position now to pay this off and am working on it but I got a big no with them on my pay for delete letter so if I do pay it off it will still be on my report.

Any tips on what I can do to get my score up.

Also, I never pay my credt cards off every month because I did that a few months ago and my score dropped 70 points because they thought I closed the account.

thanks for the assistance.

Re: Credit score stalled

mycreditscoreisfair — Thu, 15 Apr 2021 14:48:13 GMT

@Anonymous wrote:
My credit score doesn't want to budge and i wanted to know what I could possibly do to make it go up.
Currently I have 4 small credit cards and the utilization is only 2%. I have one credit builder installment account with credit strong. All of my payments with my creditors are on time and no lates.
The only derogatory item is a charge off that was sold to a collection agency. The amount owed is approximately 600.00.
I am in a position now to pay this off and am working on it but I got a big no with them on my pay for delete letter so if I do pay it off it will still be on my report.
Any tips on what I can do to get my score up.
Also, I never pay my credt cards off every month because I did that a few months ago and my score dropped 70 points because they thought I closed the account.
thanks for the assistance.

Who is the collection agency? It still may be worth paying if you're within the SOL, or paying the original creditor and having them recall the debt if they still own it.

Otherwise, you may have reached a point where you need to give it time to age.

Re: Credit score stalled

Anonymous — Thu, 15 Apr 2021 22:05:50 GMT

thanks for the reply.

so I was thinking maybe I should make payments on the debt ( collection ). Do you think that would up my score a bit? I read online that paying a collection off without it being removed won't raise score..

I don't think the original creditor will remove the co but I might place a phone call. The oc is Total Visa.

Re: Credit score stalled

mycreditscoreisfair — Thu, 15 Apr 2021 22:21:12 GMT

@Anonymous wrote:
thanks for the reply.
so I was thinking maybe I should make payments on the debt ( collection ). Do you think that would up my score a bit? I read online that paying a collection off without it being removed won't raise score..
I don't think the original creditor will remove the co but I might place a phone call. The oc is Total Visa.

I just reread your post. If Total Visa sold the debt to the collection agency, then they can't recall it at this point. That would only work if they contracted the collection agency to collect.

Who is the collection agency and how old is the debt? If it's still within the SOL, then it could be worth paying. I have also heard that paying collections without them being removed from your credit reports doesn't improve your scores - but I don't have any personal experience with that.

Re: Credit score stalled

Anonymous — Thu, 15 Apr 2021 23:25:27 GMT

@Anonymous wrote:
My credit score doesn't want to budge and i wanted to know what I could possibly do to make it go up.
Currently I have 4 small credit cards and the utilization is only 2%. I have one credit builder installment account with credit strong. All of my payments with my creditors are on time and no lates.
The only derogatory item is a charge off that was sold to a collection agency. The amount owed is approximately 600.00.
I am in a position now to pay this off and am working on it but I got a big no with them on my pay for delete letter so if I do pay it off it will still be on my report.
Any tips on what I can do to get my score up.
Also, I never pay my credt cards off every month because I did that a few months ago and my score dropped 70 points because they thought I closed the account.
thanks for the assistance.

I would try AZEO - all zero except one.

You pay off all your credit cards to $0, except for one card, and only let a small balance report to the bureaus (<$20 and under 10% util for that card). It need to be a bank card and not a store or charge card.

When you pay them all to $0 then you get the "all zero" penalty.

Is the 70pt drop vantage scores? Like CK scores? Do you know your Fico scores? Fico scores are what almost everyone uses. Only a couple banks use vantage scores and often 4.0, not the 3.0 version listed in credit karma or other free sites. Experian will give you your score(s) for free and those are fico scores.