Credit advice needed

Anonymous · ‎03-22-2015

I'm looking to get an auto loan in the near future. My current myfico is 660. I have one negative acct on my report. It's a collection for 1000 from 2012 that was reported 8 months ago. That's the only derogatory and I have 4 years of ontime auto payments. I am currently at 39% utilization on my ccs. My question is what would give me the biggest bump....getting a pfd on the collection or paying my utilization down to 10%? Thanks in advance.

gdale6 · ‎03-23-2015

@Anonymous wrote:
I'm looking to get an auto loan in the near future. My current myfico is 660. I have one negative acct on my report. It's a collection for 1000 from 2012 that was reported 8 months ago. That's the only derogatory and I have 4 years of ontime auto payments. I am currently at 39% utilization on my ccs. My question is what would give me the biggest bump....getting a pfd on the collection or paying my utilization down to 10%? Thanks in advance.

Getting a PFD

Anonymous · ‎03-23-2015

Any ideas of how much an increase?

gdale6 · ‎03-23-2015

@Anonymous wrote:
Any ideas of how much an increase?

I would venture to say it would put you over 700. Its recent in Ficos eyes so its weighing heavily on your score.

Anonymous · ‎03-24-2015

I think either one is going to give you a signifigant bump. Are both doable? What current revolving accounts to you have, and what are the individual balances/limits?

@Anonymous wrote:
I'm looking to get an auto loan in the near future. My current myfico is 660. I have one negative acct on my report. It's a collection for 1000 from 2012 that was reported 8 months ago. That's the only derogatory and I have 4 years of ontime auto payments. I am currently at 39% utilization on my ccs. My question is what would give me the biggest bump....getting a pfd on the collection or paying my utilization down to 10%? Thanks in advance.

Anonymous · ‎03-24-2015

I have four ccs that are at 19%, 46%, 46%, and 45%. I have another revolving acct at 58%. I can pay all those down to where all acts would have a 0 balance and one would have 10%. That's the best way to carry a balance correct? I'm looking for a quick increase to put me at 675 for dcus best rate. I can't do both right now I have an extra 1300 and that would be enough to pay down the balances. I'm trying to arrange a pfd with cbe group as the another option.

Anonymous · ‎03-24-2015

Balances and limits currently are 190/1000, 240/550, 360/750, 556/1200 and the other acct is 352/600.

Anonymous · ‎03-24-2015

OK, while all of them are high, none are in the 'danger zone'. If you can get them to PFD, that would be best. A cleaner report is always better in the long run. Just be aware the PFD's are simply not an option with some CA's. Not sure how tough CBE is.

MarineVietVet · ‎03-24-2015

I agree with all the comments so far.

Your current utilization is not all that critical but the recent collection is a real score killer.

Work on getting that removed but of course if you can further reduce those CC balances you will see some good come from it.

Anonymous · ‎03-24-2015

Directv assigned the debt to cbe. Cbe doesnt seem to want to do a pfd. directv will take payment tho. Should I pay directv and then dispute with the bureaus once cbe reports it at a 0 balance? I've seen where some have had success with this.