Help on credit score?

[Marybeth1233]

I currently have a 472 credit score.

I have a few baddies.

AE, JCP, BUCKLE, VS, Credit one bank, Capital one..

they've been on there for less than 2 years. All charge off, each card has less than $600 owed on it, 

Hypothetically speaking- if i did a pay for delete and they were all successful, what do you estimate my credit score would be?
Thanks!

[nexace]

Assuming that the listed deliquencies were the only negative information on your credit reports, and assuming that you are not bogged down with recent inquiries, and assuming that your positive account utilization is below 20%, and assuming that your AAoA is decent, and assuming that all of those negative accounts listed are deleted, you could probably look at a FICO range between 700-750.

[policebox]

There's no way to make this prediction without knowing what else your credit report contains. If those are the only items on your credit at all, and you had them deleted, then you'd have no credit file to score.

[Marybeth1233]

I have a auto loan $5500 never missed a payment has been open for 2 years. And a signature loan with no missed payments opened for 1 year now. That is all that's on my report.

[nexace]

Lets try this Marybeth, what is your goal that you are hoping to achieve by cleaning your credit?

[Marybeth1233]

Lower apr for a car loan- only being offered 21% at the moment.
Also I'd like to purchase a house in the next couple of years.

[nexace]

A couple of years out for the mortgage is doable, but you'll need to clean up your mess and garden for a while. As far as the car loan, there isn't a quick fix. My advice is to try and put off taking out a loan for a few months.

Put together your PFDs and send them off with a check written out to the full amount, however in the memo section, put "Pending PFD Agreement".

That the account issuers are looking at your immediately capability to close out the account, and it will likely help to sway there willingness to do the PFD. Make sure you have some sort of obligation stated in the letter making sure that they legally have to obide by your PFD if they accept payment.

30 to 60 days later after the PFD dusts settles, you can adjust your strategy to current conditions.

I would definitely not apply for any credit with a score this low. How many hard inquiries do you currently have on all 3 reports?

[Marybeth1233]

I have a lot... Around maybe 50 in the past year.. I would like to take a loan out in June or July.

[nexace]

Ok you may be showing 50 inquiries, which in itself is an ungodly amount, but you probably don't actually have 50 true hard inquiries.

Anytime you are rate shopping or processing a large number of inquiries for a specific purpose, like an auto loan, and they all fall within a 45 day period, they inquiries only count as 1 total. So if during the process of buying a car your credit is hit 50 times for the purpose of getting the best deal, it will only affect your FICO score as if it was only pulled 1 time.

The same holds true for looking for a mortgage or student loan, or any other type of credit request.

So, taking that into consideration, how many inquiries do you have?

[Marybeth1233]

I'm not really sure than. I do know that it is a lot