Decrease Utilization- Instant Score Increase?

[burghpa]

You will definitely see a big score boost, but you can't always go with the Simulator number, it is just a ballpark figure.

Since none of the GW letter had any success,  i paid off all debts, and brought down the util to below 3%, thats how my score jumped this much in 18 months, plus no *new* lates, and only one account reporting balances, rest reporting zero. (once in a while a second card reported a small amount as well, but didn't decrease any points yet).

[bronxboy10]

Thanks again for the replies!

Sorry to hear none of the GW letters worked for you. After doing more research on these forums, I have decided to ask to have the TL's for my 3 lates from 2010 deleted from my reports. One clarification- I have 2 90's and 1 120. The 90's are with Discover and BoA. The 120 is with First Premier Bank. If I am able to get these 3 TLs removed, not only will I have 0 60/90/120 day lates on my report, but my avg age of credit will significantly increase! I will be sending all the GW letters this weekend, I will make sure to update this post if any TLs are removed.

[burghpa]

Those 90 day late and 120 day late will hurt you for 7 years. Keep sending them GW letters. Good luck.

i have so many baddies (several 120 lates,  2 collections and 3 charge offs), i  keep sending GW letters every month.

[bronxboy10]

UPDATE-8/26/2014

I have some fantastic news on my first round of GW letters. I sent 3 GW letters on 8/11/2014. The three companies I sent letters to were Bank of America, First Premier Bank, and Discover. Yesterday, when I came home from work, I noticed I had a letter in my mailbox from Discover. Holding my breath, I opened the letter, which read:

Dear (my name),

Thank you for your recent inquiry concerning your Discover card account.

We have updated your Credit Bureau file to reflect the following change(s) to the above referenced account:

UPDATED THE ACCOUNT HISTORY TO:ZERO LATE PAYMENTS

If you have questions about your account, please call 1-800-DISCOVER (1-800-347-2683). Knowledgeable Account Managers are available to assist you 24 hours a day, 7 days a week.

Sincerely,

Account Review Department

This is so exciting because I had 7 missed payments on the Discover tradeline- 3 30s, 2 60s, and 2 90s. Just pulled my Experian credit report, the Discover tradeline is now listed under "Accounts in Good Standing"

One down, two to go!

[dursty87]

That's awesome. Congrats on the success with Discover. Good luck with the others

[bronxboy10]

Well,

On Friday I got a letter back from First Premier Bank stating they report accurately to credit reporting bureaus and will not be removing my tradeline. 

On Saturday I got a letter from BoA saying they investigated the account and found no inaccuracies, so they will not be removing the TL.

A positive note- I sent my second round of GW letters to these agencies on Friday. The only other negative on my report is an open 3 yr Chase auto loan set to mature in Jul 2015 with 3 30 lates about a year ago. Sent a GW to Chase on Friday for this as well, asking to remove the 3 30 day lates. Crossing my fingers this go-round!

[bronxboy10]

Update: 10/8/2014

More success! I got a letter on Monday from Chase Auto Finance stating they will be removing 3 30 day late payments from all credit bureaus!!! Now my 3 year car loan, which is set to mature in July 2015, is completely clean and appears under "Accounts in Good Standing"

UNfortunately, I have also sent 4 GW letters to both First Premier Bank and Bank of America to have 2 credit card tradelines removed, since the TLs are 4+ years old. So far, they have refused to delete the TLs, but I will keep trying!

To recap- I started back in August with 4 accounts listed under "potentially negative remarks". Now I only have 2 accounts listed under "potentially negative remarks", and both accounts were closed 4+ years ago!

Question to the community- since I now have 100% on time payments for the past 4 years on 1 credit card, 1 auto loan, and 3 student loan accounts- do you think credit card companies would still put a major focus on those 2 remaining negative accounts? 

[kjel]

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@bronxboy10 wrote:

Update: 10/8/2014

More success! I got a letter on Monday from Chase Auto Finance stating they will be removing 3 30 day late payments from all credit bureaus!!! Now my 3 year car loan, which is set to mature in July 2015, is completely clean and appears under "Accounts in Good Standing"

UNfortunately, I have also sent 4 GW letters to both First Premier Bank and Bank of America to have 2 credit card tradelines removed, since the TLs are 4+ years old. So far, they have refused to delete the TLs, but I will keep trying!

To recap- I started back in August with 4 accounts listed under "potentially negative remarks". Now I only have 2 accounts listed under "potentially negative remarks", and both accounts were closed 4+ years ago!

Question to the community- since I now have 100% on time payments for the past 4 years on 1 credit card, 1 auto loan, and 3 student loan accounts- do you think credit card companies would still put a major focus on those 2 remaining negative accounts? 

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How long has it been since you have been delinquent on an account?

[Blessed221]

Congrats 
bronxboy10  do you mind sharing your good will letter by pm me please I need so much help with a short time to do it in Im applying for a mortgage in a few weeks. Thanks in advance

[bronxboy10]

kjel- My last late payment was September 2010.

Blessed221- pm sent