Credit Score

[AyaMai]

My score dropped 49 points due to a collection appeared 03/18/2022 " Original Creditor CAPITAL ONE " & estimated month and year this item will be removed 11/2023 from My TransUnion Credit Report, were as it shows it will drop 9/2023 but appears from their end but no date appears from my end. My question do Collection age as it comes to the date it will drop from credit report and my credit score will rise during future months to 11/2023.

[donkort]

From what you wrote, it appears that the collection will drop off on 11/2023.  Is it a paid collection?  Paid collections will not be on your 3-bureau credit reports as of July, 2022.  If this happens to you, obviously your score will increase.  

You can ask for an "early exclusion" from the credit bureaus anywhere from 1-6 months from that date, I believe.

[AyaMai]

No it's not a paid collection, It just showed up last month on my report, I am aware of the debt but it was 10 years ago. Capital One filed late regarding the debt and sold the debt to a collection agency.  

My score was 736, from Experian Simulator my score would go up to 761 in July due a late history payment will drop after 7 years. Now after 24 months it will be 731. 

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@donkort wrote:

From what you wrote, it appears that the collection will drop off on 11/2023.  Is it a paid collection?  Paid collections will not be on your 3-bureau credit reports as of July, 2022.  If this happens to you, obviously your score will increase.  

You can ask for an "early exclusion" from the credit bureaus anywhere from 1-6 months from that date, I believe.

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I just had one credit card limit $200 for last 10 years & paid everything in Cash, just started to rebuilding credit one year ago. I do have many credit cards and inquiries at the moment. My utilization tends to 1% to 3% as I pay the next day what I ever purchased the day before. 

My payment history on all my credit cards and car loan is excellent. 

[Remedios]

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@donkort wrote:

From what you wrote, it appears that the collection will drop off on 11/2023.  Is it a paid collection?  Paid collections will not be on your 3-bureau credit reports as of July, 2022.  If this happens to you, obviously your score will increase.  

You can ask for an "early exclusion" from the credit bureaus anywhere from 1-6 months from that date, I believe.

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@donkort  that's only applicable to paid medical collections, not all paid collections..

[donkort]

Ooops....my bad.  Only medical collections.

[FireMedic1]

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@Remedios wrote:

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@donkort wrote:

From what you wrote, it appears that the collection will drop off on 11/2023.  Is it a paid collection?  Paid collections will not be on your 3-bureau credit reports as of July, 2022.  If this happens to you, obviously your score will increase.  

You can ask for an "early exclusion" from the credit bureaus anywhere from 1-6 months from that date, I believe.

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@donkort  that's only applicable to paid medical collections, not all paid collections..

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@donkort  FICO 9 doesnt count paid collections. FWIW Vantage either.

[donkort]

I wish FICO 9 was used more often in credit-granting decisions.  It seems to be more tolerant of people undergoing credit woes in general.

My FICO 9's bear the highest scores; my FICO 10's bear the lowest scores.  It's almost as if FICO 10 is an attempt to reverse the "liberalization" happening within FICO 9.