Question about credit report

[tabby]

I have 10 baddies on my CR.  One scheulded to drop in 2/08, two scheduled to drop in 3/08, one scheduled to drop in 4/08, one in 6/08, one in 9/08, two in 2010 and two that i'm not sure about yet.  I just recedntly (this month) opened a secured credit card for $500.  My question is, what will happen to my credit report once these baddies drop off?  I know I still have a lot of work to do and need to get more good credit, but in the meantime, i want to know what impact those accounts will have when they drop off.

[Anonymous]

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tabby wrote:

I have 10 baddies on my CR.  One scheulded to drop in 2/08, two scheduled to drop in 3/08, one scheduled to drop in 4/08, one in 6/08, one in 9/08, two in 2010 and two that i'm not sure about yet.  I just recedntly (this month) opened a secured credit card for $500.  My question is, what will happen to my credit report once these baddies drop off?  I know I still have a lot of work to do and need to get more good credit, but in the meantime, i want to know what impact those accounts will have when they drop off.

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It's hard to say. Do you have anything else on your report? You could gain points since you wouldn't have as many collections, however you could lose points if you lost age, lost mix of credit, etc. How many points? One can never really tell.

[Anonymous]

I would expect small jumps as each drops off-

Keep everything paid on time - keep the CA's away

Where is your score at now?

[tabby]

I only checked TU and the score was 508.  I pretty much have been paying cash for just about everything for the past 7 years becasue i couldn't get credit.   I have no other credit other than a secured visa that i just got.  If i had known better, i would have gotten one several years ago.  What else should i be doing to get my scores up?

[Anonymous]

Give a few months on the secured card-

You may even want to increase the limit by depositing more $ on it.

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tabby wrote:

I only checked TU and the score was 508.  I pretty much have been paying cash for just about everything for the past 7 years becasue i couldn't get credit.   I have no other credit other than a secured visa that i just got.  If i had known better, i would have gotten one several years ago.  What else should i be doing to get my scores up?

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