18 months with no late payments, and NO score increase???

[glaucus]

Hi,

Two years ago I had some problems paying my credit cards. I have 6 closed accounts that I am still paying off. All are paid down to about 60% of the credit that was once available. The late payments ranged from 60 days late on some cards up to 180 days late on one card. Terrible, I know. I also settled on 2 additional cards for less than the balance. However, in the past 18 months I have had no late payments. I have 4 open cards, and one of them I pay down to 0 every month, so I carry no balance. I just paid off another 2 down to 0 balance, and still there is no credit score change. I am stuck at 643. I know my payment history was terrible, but shouldn't I expect some increase after a year and a half? Thanks for any help or advice!

[alvon123]

What credit monitoring sites are you using?  Check to see if your scores are rising through Fico scores only. (All other sites give Fako scores which are known to vary highly and are for educational use only.)

Your scores will not rise a lot because even though you are paying down the debt you owe . the charge offs are still  listed on your report and will continue to ding your score.

I would suggest you go the PAY FOR DELETE route. Contact creditors and see if the will delete your CO  from your reports for a specified amount. (GET THIS IN WRITING!!!).

Your score will rise when the majority of CO are removed from your record.

[DaBears]

---

@glaucus wrote:

Hi,

Two years ago I had some problems paying my credit cards. I have 6 closed accounts that I am still paying off. All are paid down to about 60% of the credit that was once available. The late payments ranged from 60 days late on some cards up to 180 days late on one card. Terrible, I know. I also settled on 2 additional cards for less than the balance. However, in the past 18 months I have had no late payments. I have 4 open cards, and one of them I pay down to 0 every month, so I carry no balance. I just paid off another 2 down to 0 balance, and still there is no credit score change. I am stuck at 643. I know my payment history was terrible, but shouldn't I expect some increase after a year and a half? Thanks for any help or advice!

---

60-180 day lates are major derogatories and will affect your scoring until they fall off at the 7 yr mark. Paying all your cards in full every month is showing Fico you are not using them as they are reporting a $0 bal each month. Keep all but one card at a $0 bal and the only one between 1-9 % util. You can rotate those cards as well each month. Best of luck.

DaBears