Credit Card Balances - Major paydowns

[littlemommy928]

Hi.  I am new and don't know the "game" yet, but am trying as my credit scores are VERY low.  I have a few questions....first, should my scores increase a lot do to the following payments and balances?  If so, how much to you think it would jump:

                                       Reported          pymt 10/29      pymt 11/15    Balance         CL

Direct Mrch                        $2,172.00         ($245.00)          ($80.00)        $1,847.00       $2,000

Childrens Place                     $105.91           ($80.91)             $0.00             $25.00         $150

Credit One Card                    $400.74          ($331.05)          ($69.69)              $0.00         $250

Dressbarn                             $198.72          ($198.72)            $0.00               $0.00         $250

Orchard Bank                        $309.05          ($200.00)         ($50.00)              $59.05       $300

Snap CC                               $304.00          ($200.00)         ($50.00)              $54.00       $300

Badcock                               $249.00          ($249.00)            $0.00                 $0.00       $800

As of today, the only item reported to the CRA is the Childrens Place payment.  Also, I had two 30 days lates..one for the badcock, one for the credit one.  I have written GW letters and will be mailing them today.

Second question, hmm, now i forgot my second question!!!!  Sorry, I will post if I remember.

Thanks for any help or responses.

Heather

Fico  EF 402, Ex 460, TU 494

Message Edited by littlemommy928 on 11-17-2007 04:19 PM

Message Edited by littlemommy928 on 11-17-2007 04:21 PM

[Anonymous]

Going from 92% utl to 49 is going to help.
You are still going to get kicked with the one acct this at 92% UTL this maxed card is almost as bad as a CA.

2172 1847 109% 92% 2000
105 25 70% 17% 150
400 0 160% 0% 250
198 0 79% 0% 250
309 59 103% 20% 300
304 54 101% 18% 300
249 0 31% 0% 800

3737 1985 92% 49% 4050

[littlemommy928]

I was actually just figuring out the percentages after realizing that it was TOTAL and not for each card. 

Since I have the others just about paid, next paycheck i will try to pay down about $400 on the larger one.

Any advice on figuring out when each card reports?

[haulingthescoreup]

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@littlemommy928 wrote:
Any advice on figuring out when each card reports?

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Clearest way: do you have any of your full credit reports, the ones that you pay the CRA's directly for, or that you got from annualcreditreport.com? They will show the reporting dates as mm/dd/yyyy. You only need one, as long as all your accounts report to all three CRA's. Also many 3-in-1 monitoring services like TrueCredit show this, although TC doesn't show /dd/ for Equifax. But since they do show it for EX and (usually) for TU, that doesn't really matter.

Another way: look at the balances that display on your reports. If they match the balance that is on your statement, they PROBABLY report on your statement drop date, although that is not guaranteed. That's the date that is printed on your statement, not the date that your payment is due.

Finally, you can call each lender and ask them. My few companies knew and cheerfully told me; others have no idea, or they make something up, or they act like you're trying to steal plutonium.

hope that helps!

[littlemommy928]

I actually got my report tonight from EX and it only shows the month and year... 10/2007 for example.  I will try your other suggestions.  I really want to get my credit back in shape.  I have a bunch of GW letters I am sending out and hope that it helps, and a few collections falling off in Jan and May of 08. 

Heather

[haulingthescoreup]

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@littlemommy928 wrote:

I actually got my report tonight from EX and it only shows the month and year... 10/2007 for example. I will try your other suggestions. I really want to get my credit back in shape. I have a bunch of GW letters I am sending out and hope that it helps, and a few collections falling off in Jan and May of 08.

Heather

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Gosh, I'm sorry, I didn't realize or remember that EX doesn't show the full date. This is a $15 or whatever report, right? I'm going to have to go back and figure this out...

[littlemommy928]

Actually, I ordered my scores from here for TU and EX and i clicked on the dispute link which took my to their site, and somehow I received my report for free.  Maybe I hadn't requested it yet this year....so no worries.