Equifax - 3 charged off credit cards gone. 4 collections, gone. New credit card with $5k limit

[Anonymous]

Doubling my available credit. Credit score? Exactly the same. I am learning the joy of buckets, I am guessing?

[Blodreina]

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@Anonymous wrote:
Doubling my available credit. Credit score? Exactly the same. I am learning the joy of buckets, I am guessing?

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I'm sure it just hasn't updated.  Those changes would definitely lead to a big score change, unless you still have other things bringing your profile down.

[Anonymous]

Usually when Myfico posts an update, there's a score change with it if there have been any significant changes since the last update. I could still expect a score change? :/

[Anonymous]

Has anyone ever tried to get enough data points to figure out the mystery of buckets? I apparently am at the top of some mysterious bucket that stops at 660 or so and has people with multiple blemishes including collections - my Equifax is 657 and Transunion 658. On Experian, I have no collections but multiple lates including a much newer late than the other two and a score of 670. Did anyone else stall right about 660? I hope the buckets for mortgage scores don't have the same criteria. I NEED to get my middle scote to 680 asap! Currently it's 673. Sigh.

[grillandwinemaster]

My profile sounds like its similar to yours.  I also have collections and late pays from the past.

You haven't reached the top of this "bucket."  I'm right around 700 with all those baddies still

remaining.  How's your uti?  There's something else in your profile that's holding you back.  Also,

how recent your negatives happened will affect your scores.

Best credit wishes to you.

[Anonymous]

Credit card utilization is maybe 4%. BUT I have ancient student loans upon which collection efforts had long ceased and I started paying them maybe 8 or 9 years ago, and they showed back up on my credit report. Then I went through some challenging times and could not pay for some months ago and have lates, since rehabbed. But my debt to original balance is terrifying. It's going to be a long while before it improves. Maybe that's holding me down too. My last late on Transunion is about 2 years old and Equifax, maybe 3 or 4. Sigh. I need to find a way to skin this cat. I'd love to be at 700 before getting a mortgage.

[Anonymous]

I've been stuck at 672 with the Equi and Exp for what seems like FOREVER.   Actually its been about 3 months. Util = only 4%.  I have a horrible file full of student loan lates, all of it from 2010 and 11.  One charge off that is due to come off in October, soon!     No collections.    I honestly feel STUCK, so I feel your pain!

[Anonymous]

Omg LolaCat, you are me! I have a charge off coming off then too! My lates were in 2011!

[Anonymous]

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@Anonymous wrote:
Omg LolaCat, you are me! I have a charge off coming off then too! My lates were in 2011!

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HAHA!   Well in that case, I won't expect a huge change with the chargeoff coming off next month!   It's frustrating isn't it?    I've read that late payments decrease with time, BUT, I bet that when you have many many lates that is not the case as much!  

What is your timeline for a mortgage?    I am still saving for a downpayment, and will not be ready for at least a year, and the student loans have a DOFD from way before the late payments (they changed hands), so they will be off in August.

I will be sure to update here when my chargeoff falls off!    Hang in there, it's nice to know we are not alone!     We've come this far, it's the HOME STRETCH

[Anonymous]

Do you know they will be off? It apparently depends on whether they are Stafford or Perkins (if I understood/remember correctly). On the bright side, my mortgage FICO scores have had a nice jump with midpoint going from 639 to 673 in just two months so hopefully you'll find a nice improvement there too.