Credit will only move 3-4 points....

[Anonymous]

I’ve been on credit recovery mode for a few months now. Late payments on my student loans dropped my score down to a 460. I quickly got 3 secured credit cards and paid off my 2 accounts in collections. My score was raising 15-45 points a month.

It’s back to 600 now but instead of huge leaps I only get increases by like 3-5 points now.

I have 3 cards with a $700 balance. I frequently use 1, rarely use the other 2. I never keep a balance. I always get under 5% of credit utilization. No new inquiries in past year. No collections. 96% pay on time bc the student loans. Everything is green except length of credit and on time.

How can I get back to seeing 15+ jumps?

[dynamicvb]

The 10-15 points a month is not something that can be predicted as it just does not work that way. What does the rest of your profile look like? What baddies are left on the reports and what other tradelines do you have? Do you have an open installment loan reporting?

If you get your 3 fico scores, then look under the whats hurting your score list. The first item on that list is what is holding you back the most. List those out along with your baddies and other tradelines and someone will be able to point you towards what you should do to grow your file and scores.

[DIYcredit]

The late payments and the two collections are whats holding your score down.How recent they are is very important.The more recent they are the worse it is for your Fico score.Paying the collections if they are curently on you cr will have little affect on your score The fact that they happened and when as I said is very important.As far as jumps of 15+ points there is no silver bullets.What I suggest you do is use your cc's to  to charge small every month on all three, keep utilization low like you have been doing (try the AZEO method before any apps in the future)and avoid any apps for now,Your score will increase in time otherwise your doing good..

[Brian_Earl_Spilner]

It really depends how late you were. 30 day lates will lose effect over time while 90+ will keep their strength the entire 7 years on your report. Sound like you need to launch a goodwill campaign to try and get the paid collections removed from your reports as well as the late payments. Unfortunately, getting lates on a student loan removed is near impossible, so you'll probably just have to wait out the 7 years for them to disappear.

[DIYcredit]

No only weather the late is minor or serious derogatory but the frequency.

[Anonymous]

I have no “baddies” when I paid collections off like 4 months ago I told them to delete from report or u get no money. Nothing shows up in collections.

My late payments were student loans I forgot weren’t on forebarence. 90 days late 6 accounts. Now all in good standing.

I have 1 car loan originally 45k, 27k remains and no late payments.

I’m content with my credit cards but I want to be like 650 or better. I guess in time it will get there eventually.

[audio-disabled]

Kudos on pay for delete!

I want to say I think secured cards is what is holding you back. When they graduate, you will leap towards higher scores.

You say you have 90 days late on all 6 accounts? So that's basically, six 90 days lates? If that's so, since you forgot they were not in forebearance, perhaps try for a goodwill letter and explain your situation? I'm not sure if this will work, but GW works generally.

[dynamicvb]

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@audio-disabled wrote:

Kudos on pay for delete!

I want to say I think secured cards is what is holding you back. When they graduate, you will leap towards higher scores.

You say you have 90 days late on all 6 accounts? So that's basically, six 90 days lates? If that's so, since you forgot they were not in forebearance, perhaps try for a goodwill letter and explain your situation? I'm not sure if this will work, but GW works generally.

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The secured cards are not the issue. Fico does not even know they are secured. The lates are the issue here and if there are 6 of them, then that is going to be quite a hit for the entire 7 years they are on the report. Bringing an account back into good standing does not negate the lates. You can try the goodwill route, but I have not heard of anyone making much progress with GW's on student loans. The best you can do is to let them age and make sure not to add any more baddies on top of them.

There is a graph around somewhere by ABCD that shows how lates affect a score.

[audio-disabled]

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@dynamicvb wrote:

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@audio-disabled wrote:

Kudos on pay for delete!

I want to say I think secured cards is what is holding you back. When they graduate, you will leap towards higher scores.

You say you have 90 days late on all 6 accounts? So that's basically, six 90 days lates? If that's so, since you forgot they were not in forebearance, perhaps try for a goodwill letter and explain your situation? I'm not sure if this will work, but GW works generally.

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The secured cards are not the issue. Fico does not even know they are secured. The lates are the issue here and if there are 6 of them, then that is going to be quite a hit for the entire 7 years they are on the report. Bringing an account back into good standing does not negate the lates. You can try the goodwill route, but I have not heard of anyone making much progress with GW's on student loans. The best you can do is to let them age and make sure not to add any more baddies on top of them.

There is a graph around somewhere by ABCD that shows how lates affect a score.

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Thanks for pointing that out!

[800FICOGoal]

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@dynamicvb wrote:

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@audio-disabled wrote:

Kudos on pay for delete!

I want to say I think secured cards is what is holding you back. When they graduate, you will leap towards higher scores.

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The secured cards are not the issue. Fico does not even know they are secured.

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Exactly. If that were the case, my TU score would not have reached 736 in less than a year.