So if you have, say, a mortgage, a car loan, a student loan, and a CC with a 0% balance transfer that will take a while to pay off, that's four accounts with balances.
Ys is is true for my profile.
It says the high FICO achievers have an average of 3 accounts reporting a balance and they count my mortgage and car loan so that leaves me with one CC. I have had 2 CCs report a balance and I know it sounds strange but sometimes is lowers my TU score and somtimes it doesnt
Anyway I would try 2 CCs with a mortgage and autoloan and see how this works. If not then try 1. Experimenting with small balances can really help you see what is going on and will help you when you want to go after a big prize like an auto loan or mortgage/refi since you dont want to be suprised that your score drops from say 720 to 719 when you are going for an auto loan and your CC repots that $20 DVD you just bought at Best Buy.
I know this is an old thread, but I can't believe how similar our circumstances are and this gives me hope! There is a medical collection on my husband's report from 2011. Like you, I actually paid it off in full to the Medical Center a year and a half ago but the collection agency never knew. I contacted the collection agency and they wrote me a deletion letter that day. They were actually really nice and helpful! I gave it to our lender on Monday and he is working on a rapid rescore. His score is also in the 690s/670s and we need it to be over 700 to qualify for a jumbo loan.
My husband only has one credit card and his utilization was about 14%--I am paying it down to under 9%.
There was one late payment (because of an expired cc number that was set on auto-payment) but it has been changed from 30 days to 0 days past due by the car company. So, that is gone.
I hope we have the same success as you.
That's great to hear cimbrone! I have had 2 recent medical items deleted from my credit reports but have not checked my fico score to see if it has improved. I did this around the end of August 2012. When do you think I will see the effects of these deletions?
Sorry cimbrone ... I guess you're waiting to see if you get a boost in you credit and ut was the 2008 poster who received the boost.