(NOTE TO MODERATOR: If I'm posting this incorrectly, please don't delete it. I spent quite some time putting it together. Send me a message first. Thanks)
I used to have around $24K in credit card debt. I've been working on bringing it down steadily and now I see the light at the end of the tunnel ($0 balance in about 2 years from now).
I used to have a 720, but since the economic downturn, it got as low as 550. Now, I'm at 599 (Equifax) as of today (7/29/13).
Q1 - How long will it take me to get to 720?
Score (Equifax): 599 (Not Good)
Payment history - Not Good
Amount of debt - Good
Length of credit history - Great
Amount of new credit - Very Good
7 accounts total:
Total past due: $1,000 past due on 1 account
Credit history: 19 years
Accounts with negative indicators: 3
Total balance of:
Your revolving accounts - $9,931
Your mortgages - None
Your installment loans - $0
Total number of Accounts: 7
Accounts with balances: 4
Accounts opened in past year: 0
Recent inquiries: 1
Collections: 0
Public Records: 0
Company Account type Date opened Balance Status Negative Indicator?
| ACCOUNT #1 | Credit Card | 2/1994 | $4,495 | 90 days past due | | |
| ACCOUNT #2 | Credit Card | 9/2004 | $2,468 | Pays account as agreed | | |
| ACCOUNT #3 | Credit Card | 9/2007 | $2,182 | Pays account as agreed | No | |
| ACCOUNT #4 | Credit Card | 12/2007 | $786 | Pays account as agreed | No | |
| ACCOUNT #5 | Credit Card | 12/2007 | $0 | Pays account as agreed | No | |
| ACCOUNT #6 | Credit Card | 1/1997 | $0 | Pays account as agreed | | |
| ACCOUNT #7 | Car Loan | 2/2008 | $0 | Pays account as agreed | No |
ACCOUNT #1 - Credit Card:
I had an autopayment on #1, but didn't realize that I was behind $1000 so hence the infraction. I just sent in the check for that outstanding amount.
Status as of Jul, 2013
Date opened: Feb, 1994
Date of last activity: Oct, 2012
Largest past balance: $13,300
Account Type: Revolving
Account holder: Individual
Scheduled Payment Amount: $250
Industry: All Banks
Descriptions
- Account closed at consumer's request (I was ignorant and closed before I knew what it would do to the fico)
- Credit Card
Balance Current Status Past Due Amount
| $4,495 | 90 days past due | $1,000 |
Seven year payment history
30 days late60 days late90+ days late
| 8 times (Nov 2012, Oct 2012, Dec 2011, Nov 2011, Oct 2011) |
| 4 times (Jan 2013, Dec 2012) |
| 9 times (Jun 2013, May 2013, Apr 2013, Mar 2013, Feb 2013) |
Recent payment history
2011/07 - 2011/09 
2011/10 
2011/11
2011/12
2012/01 - 2012/09
2012/10
2012/11
2012/12 
2013/01
2013/02 - 2013/06 
______________________________
ACCOUNT #2 - Credit Card:
Status as of Jul, 2013
Date opened Sep, 2004
Date of last activity Jul, 2013
Largest past balance $6,300
Account Type Revolving
Account holder Individual
Scheduled Payment Amount $49
Industry National Credit Card Cos.
Descriptions
- Account closed by credit grantor (I just discovered this yesterday)
- Credit Card
Balance: $2,468
Current Status: Pays account as agreed
Seven year payment history
30 days late - 2 times (Dec 2009)
60 days late - 1 time (Jan 2010)
90+ days late - 1 time (Feb 2010)
Worst Delinquency - 90 days past due
______________________________
ACCOUNT #6 - Credit Card:
Q2 - In Dec '13, this will be 7 years old, should I delete account or leave it?
Status as of Jul, 2007
Date opened: Jan, 1997
Date of last activity: Mar, 2007
Largest past balance: $10,500
Account Type: Revolving
Account holder: Individual
Industry: National Credit Card Cos
Descriptions
- Closed or paid account / zero balance
- Account closed by credit grantor
Balance Current Status
| $0 | Pays account as agreed |
Seven year payment history
30 days late - 0
60 days late - 0
90+ days late - 1 time (Dec 2006)
Recent payment history
2005/07 - 2006/11
2006/12 
- Q3 - This is weird, how can it go straight to 120-days late w/o any previous 30's 60's or 90 days late?
2007/01 - 2007/06
Inquiries that may be affecting your FICO® score
Total: 1 Time
Date Company making the inquiry
| January 15, 2013 | XXXXX |
Q4 - Since these old accounts (esp #1 & #2) are paid off, will it drop my score?
Q5 - Is it possible if I call and ask for them to reopen it that they would?
Q6 - Any other suggestions?
Let me know if you need any more info.
Any info is greatly appreciated. This low fico is crippling!
Thank you in advance!
Starting Score: 550
Im kinda of in a similar situation my fico scores back in may were eq 532 ex 528 tu 568 now my fico scores are ex-628 eq-628 tu-595 with 1 baddie and 2inqs on ex. Wats holding my score back is my payment history last june till dec i rack up lates on my cap 1 card stupid me.
It seem like i cant do anything anymore to instantly boost my score anymore or try to gw and get the late payments remove or just continue to pay the card and let the late payments age as each month now hit a year for that last late payment seems like i get a couple of points boost..
So what im basically saying if you can get alot of those late payments gw remove you'll see a boost or just patience and time wat everybody seem to hate with paying ya cards on time and letting them age
