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How much of an increase?

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Anonymous
Not applicable

How much of an increase?

I know I've kind of asked this before...I have a mid score of 562. I have a 30 day late credit card payment 10/2013 60 day late 5/2013 30 day late 1/2013.today I paid off all 3 of my credit cards that were maxed out. 300 credit limits. 1 accound in collections of 185 dollars! I know terrible. Today I had a late payment removed from 11/2013. How much could my acore jump considering?
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Revelate
Moderator Emeritus

Re: How much of an increase?

At a complete SWAG I'd say in the 590, maybe 600 range.

 

The utilization will help, dropping one late from several in that time frame may not make much difference at all, though every little bit helps.

 

It's hard to say, recent derogatory information tends to have a severe dampening effect on the rest of the algorithm anecdotally.  Given that it's the king of the hill in the model, I suppose that's nearly a given.  

 

ETA: I'd love to hear what your score does do if you don't mind sharing.




        
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