Finally, I have all my scores over 700! (TU:720, EQ:706, EX: 712) The removal of a collection that I paid in 2006 and that was scheduled to fall off in 2010 gave me the 18-21pts necessary to get over the hump.
Negatives left:
I still have 18 30day, 15 60day, and 12 90+ day lates on my report from 3 accounts. The most recent being 120 days late in Sept, 2005. All date from 2003 to 2005 so will fall off in 2010-2012.
Current Credit Profile
- Utililzation: 10%
- 1-2 Inquiries from last 12 months (3-4 in last 2 year period).
- 1 open CC and 1 store card. I just opened a 2nd CC and almost doubled my CL but it isn't reporting yet for combined CL of $21,700.
- I have 4 closed CC (1 with lates).
- 1 opened car loan (1 year+ old, balance left <80%)
- 1 opened mortgage (1 year old)
- 3 closed car loans (1 with lates)
- 2 closed mortgages (1 with lates)
- Credit Length: 18.5years
- Ave Credit Age: 9years
Interesting Negative Note on my last TU report: You have 3 accounts reporting balances. High acheivers only have 3accounts reporting balances on average. <-- So how is this a bad thing?
Plan for Future Increases
- Time will only increase my scores
- Currently GWing discover to delete closed TL from reports to get rid of all 90+day lates and my most recent ones. Deletion will decrease my credit age to 12 years so I will try to reopen a closed AMEX account from 1989 to try to reage my history once Discover acts.
- Will goodwill my CU on my lates for old mortage. The most recent 14 happened while I was under a payment plan and so I was surprised to see them there. Even if they had the right to report the lates, it doesn't seem fair so I think I have a chance. This will get rid of most of my 60 day lates.
- GMAC is probably hopeless, but I will eventualy try GW with them to get rid of my 7 30day lates with them on old loan. They did give me a new loan at 2.9% so they don't seem to hate me.
Goals:
- Increase my Scores
- Get Chase Freedom Card Visa
- Get a new Discover Card (only can happen when my negative history with that 180day late with them is gone).
Thanks! It took exactly 3 years from my last late to get to this point.
For the 1st 2 years, the only thing I did was make my payments on time and try to pay down my CCs which were at 240% utilization. Well I also got a med collection from my ex-wife removed. For the last year I've worked to try to actually clean the negatives up and finish getting the util down to 10% or less each month. I threw 2 new loans into the mix last year which slowed things down until they aged a year. I have no idea just how bad my scores were in 2005 when I finally was able to start making all my payments, but considering how severe the lates were and the number, it must have been bad.
