Seeking advice to boost score in next 10 months (Score & info inside)

[Anonymous]

So I've officially removed myself from the account as an authy.

Hopefully it will be reflected within 30-60 days on my CR.

:-)

[FireMedic1]

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@Anonymous wrote:

So I've officially removed myself from the account as an authy.

Hopefully it will be reflected within 30-60 days on my CR.

:-)

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Excellent. Report back when it post what you ganied. Work on paying off those CA's. Think of a friend who loaned you money. If you paid him back. And asked again for a loan, you'd get it in a second. If you never paid him back. You wouldnt get a dime until you paid your friend back. UW's may look at well you didnt pay the friend's loan off and it was given to another friend named Vito to collect his money back or the CA. Once paid. You buddy will always know you passed and never paid. But in time (once it falls off after 7 yrs) you may get another loan from your friend.

Seriously.  You have enough to get going to get to to your goals. Work with what you have. Use AZEO and be patient and you could get to your goal. It just takes time. Best of luck!

[Queen_Etherea]

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@Anonymous wrote:
"It hurts to lose the card with biggest CL but oh well, it will be for the best in the long run."

It's not just better in the long run, it's better in the short term as well. Having a serious derog like a 120 day late, could keep you from getting credit limit increases on your other cards.

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What if the 120+ lates are from 7 years ago? Do they hurt less as they age?

[Anonymous]

Most likely yes, but as stated, you have enough already without that AU account to hit your goals. Getting rid of it was wise and you should see some positive effects from it. Taking the hit to your AAoA may hurt some but I’d bet that having no lates in your history will make up for that.

As stated above, the Midland collection will go away within 45 days of paying it - that’s their stated company policy, that any paid debt will be deleted in full as long as it’s paid off and is at least 2 years old. You can ask them if they’ll settle for less than the full amount and still delete and they likely will. Normally a PIF looks better than a settlement but since they are going to wipe all traces of it anyway, save yourself as much as you can. If they’ll still delete with a settlement (which I believe they do), you may be able to pay something like 40% of the chargeoff and still have it expunged.

[Anonymous]

I should clarify that you won’t see big jumps until all of the bad stuff is gone. The number of baddies on your report matters less than the fact that any exist. Each one you clear will help you some, a few points here and there, but when the last one goes away, that’s when you see the big gains. Depending on how your profile looks at the time (UTI%, overall lines, history on those lines), you may see as much as 60-100pt increases as some have reported in the past.

[SouthJamaica]

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@Anonymous wrote:

Hello all,

Been a lurker on here for a while. In my youth I was incredibly irresponsible with my credit cards and thankfully never really got into huge debt but about a year ago my FICO8 scores were hovering around 480. I ended up getting a secured Cap1 and i am also an Auth. User for my Dad's QS1, and Playstation Cap1 cards which helped and my scores are currently sitting at:

EXP: 594

Trans: 551

EQ: 597

I was recently approved for a QS1 myself with $300 limit (yet to arrive in mail) and about two days ago I pulled a SCT for victoria secrets and was approved for $350. I have been trying to do one more SCT but no luck. I hope this will help boost me up a bit but I do have some baddies on my credit report that I would love some advice on. 

Collections: 2

1. Midland Funding (Credit One Bank) - $740 - 2 yrs old

2. IC Systems (AT&T) - $60 - 3 yrs old

Closed Accounts:

1. Bank of America - $854 - "Charged off as bad debt" - 6 yrs old

2. First Premier Bank - $456 - "Charged off as bad debt" - 3 yrs old

3. Credit One - $0 - This account is still showing up in my closed accounts and I am guessing it is counting against me even though it is the same acount that Midland funding now owns and is listed under collections. I have tried to contact Credit One about this and their customer service has not been great to say the least. I could be wrong but I feel like it should be one or the other, but it's hurting me twice.

Accounts in Good Standing:

1. Capital One Quicksilver 1 - $1,500 limit - Balance is $600 - 2 years and 9 mos old (Had 3 late payments in 2017, 30 day, 60 day, and 120 day)

2. Capital One Platinum - $500 - Balance is $0 - No Late Payments

3. Capital one Playstation - $1,250 - Balance is $0 - No late payments

How quickly would I be able to get my score up to like 680-700? I do have the funds now to pay off some of those collections but not sure if its worth it unless I can get a PFD. I am trying to get an auto loan some time in the next 10-12 months and would want the best rate possible. Also eventually looking to get an AMEX card :-)

Keep in mind My new QS1 with $300, and VS with $350 has not posted yet as I have not yet received the cards in mail.

Any advice would be much appreciated. Thank you guys in advance.

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My advice is to try to get pay-for-deletes, but if you can't get them, pay them anyway.

[Philly84]

Someone posted about an effective credit one GW recently.