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Just did a PFD. Have some questions...

Frequent Contributor

Just did a PFD. Have some questions...

As the title says, I recently did a PFD for the only collection on my credit reports. I have two questions:

  • What type of score bump (if any) can I expect?
  • Does settling the debt put me back in the good graces of the original creditor (Citi store card)

According to PRA it will take about 30 days before it's deleted from my reports and I'm very anxious! I realize everyone's file is different but I'm wondering what type of score bump I can expect (if any). It is the only collection on my report. It is an $849 balance that was sent to collections in February 2015. My current FICO score, according to Amex is a 671 (which includes the collection)


The settlement was for about 40% of the balance (It was a fraudulent account but considering the cost it was easier, faster and cheaper to settle). My concern is that it might now be difficult or impossible to get a Citi card in the future. So... I'm having some buyer's remorse that I did not go through the hoops of getting another police report and disputing it. Shoukd I be concerned that I am now blacklisted by Citi? 



Message 1 of 3
Legendary Contributor

Re: Just did a PFD. Have some questions...

Do you have other major derogs, such as a monthly 90+ late, a CO, or a public record, in your report?

If so, your scoring continues to be under a less-favorable scorecard until all major derogs are gone, after which you will be re-bucketed into a more favorable ("clean") credit scoring category.


Stated simply, the scoring impact of removal of a major derog depends upon what other major derogs also remain.

If your last major derog, the impact will likely be substantial.

Message 2 of 3
Frequent Contributor

Re: Just did a PFD. Have some questions...

No other collections
No charge offs
No public records

I do have a total of six 90 day lates across three creditors. All of them were in 2015.

I've had other lates but none more than 30 days and none more recent than 2 years ago (23 months)

Message 3 of 3
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