I have one charge off remaining on experian that will be removed next month. Assuming I get the EE they told me I would get.
I do still have a couple late payments from 6 years ago on a paid in full auto loan. I am just curious if that last charge off coming off will give me a boost on my score? Or if those lates that are sticking around another year will hold that back still?
Youll get a boost, but not by much. Your biggest score boost will be when the last derogatory comes off. That being said, if everything else is in order you can easily get in the 700s.
If it is your last CO or collection, and all you have left are old lates, I'd expect a >40 point boost based on my recent personal experience.
The lates will keep you on a dirty score card, but if your utilization and other factors are on point, you can still get into the 720+ score range.
@markbeiser wrote:If it is your last CO or collection, and all you have left are old lates, I'd expect a >40 point boost based on my recent personal experience.
The lates will keep you on a dirty score card, but if your utilization and other factors are on point, you can still get into the 720+ score range.
My last charge off and collections came off last month leaving only 6 year old lates. I only got a 24 point boost. No apps in 2 years. AAoA is about 4 years, but high utilization. The point gain is dependant on everything else.
@Brian_Earl_Spilner wrote:My last charge off and collections came off last month leaving only 6 year old lates. I only got a 24 point boost. No apps in 2 years. AAoA is about 4 years, but high utilization. The point gain is dependant on everything else.
Yeap, high utilization is a killer. When I got my huge jump, I'd already gotten my utilization down to <10%, but I had a ton of inquiries and new accounts. Most of the inquiries were on TU, so I got less of a score jump there when my last collection fell off.
On the right 1/3 of this graph of my EX scores, the fist smaller jump when a balance reporting CO fell off, the first 40+ jump was when the last collection fell off. The 2nd 40+ jump was when my last late fell off, moving me to a clean score card.
how many late payments and how late?
a few isolated 30's would be slightly different than 90's and 120's
@GZG wrote:how many late payments and how late?
a few isolated 30's would be slightly different than 90's and 120's
This would be the last of baddies left on my report. 2 strings of 4 and 5. And the one from Dec 2016. I have been trying so hard to get Cap One to help me out with a good will adjustment but they wont budge.
@OniStringer wrote:
This would be the last of baddies left on my report. 2 strings of 4 and 5. And the one from Dec 2016. I have been trying so hard to get Cap One to help me out with a good will adjustment but they wont budge.
What does your credit utilization look like?
@markbeiser wrote:
@OniStringer wrote:
This would be the last of baddies left on my report. 2 strings of 4 and 5. And the one from Dec 2016. I have been trying so hard to get Cap One to help me out with a good will adjustment but they wont budge.What does your credit utilization look like?
Utilization is around 25 at the moment, getting lower every month. Wil be at zero in probably 3 months.
@OniStringer wrote:
@markbeiser wrote:
@OniStringer wrote:
This would be the last of baddies left on my report. 2 strings of 4 and 5. And the one from Dec 2016. I have been trying so hard to get Cap One to help me out with a good will adjustment but they wont budge.What does your credit utilization look like?
Utilization is around 25 at the moment, getting lower every month. Wil be at zero in probably 3 months.
The lates will keep you on a dirty score card, but if you keep lowering your overall utilization, and keep each card beow 29%(ideally <10%), You will easily see scores >700 once there are no COs or CCs on your report.