I disputed with Experian electronically 3 collection amounts and got them deleted but my score has not changed one bit. I thought it took a few weeks to update but it's been a month and nothing (( I currently have NO collections on my account. There is just one charge off from BOA from 6 years ago, that's it. I have not applied for any credit cards or loans whatsoever.
Can I ask Experian to recalculate or find out why my score didn't change after I got rid of all fraudulant collection marks on my report?
If you have a CO still on your CR, that's keeping you in a dirty scorecard. A CO is a major negative item. Whether you have 1 major negative or multiples, your score is being held back significantly. It's not uncommon to have multiple collections removed and see no score gain at all if you still have a major negative present on your CR. Once that final negative is gone, you'll probably see a score gain to the tune of 60-80 points.
Since it will be a year or so before that CO comes off you should probably start rebuilding now. Don’t cold app for anything. Try the prequalificaiton links for banks like Discover or Capitial One. If you do not prequalify for anything start with some secured cards. Bank of America, Citi, Discover all have good secured cards.
Thanks everyone! So what can I do to help the situation with the charge off? Is there anything? Or just wait it out for the 7 years?
I have applied for one secure credit card and hoping to use it 30% however I'm worried if the CO is still there how much my score can really go up? Anything else I can do ?