will this get me 14 points?

[Anonymous]

30 years of pristine credit and now some cell phone company reported a bogus collection which I am trying to have removed

that dropped me from up around 800 to 696..... that's the ONLY derog I have

everything else reports "never a late payment" as far back as they go

only loans I've had for many years is my mortgage and a HELOC which I closed almost 2 years ago

my (2) CC's are probably reporting balances even though I pay them off totally every month

if I zero them out early would that might that get me my 14 points?

last month I owed about 1700 on 14,000 available credit......... the previous month was probably up around 3500

do they score on the most recent month or do they average it over time???

I need to get up to 700 to be able to refinance my house

[llecs]

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AKCheese wrote:

do they score on the most recent month or do they average it over time???

I need to get up to 700 to be able to refinance my house

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CC utilization is factored in by what is reporting. So, ideally, you'd want one card to read $0 and the other less than 10% (ideally $1.00). If your 696 is based on the $1700 balance reporting, you may not hit 14 points, but is worth a try.

Sounds like the CA (assuming a CA) is very new and recent. If so, then I would fight that. If it has an updated or reported date of this month, fighting it likely won't drop your score any because it is reporting as new. If a CA, then send a DV. If an OC, then offer a PFD (if you agree with it).

[Anonymous]

It is very possible, I would predict 10-15 points for only having 1 card report and overall utility 1 percent versus over 10 percent util and 2 cards reporting.

 Do you need 4 points or 14? You said you had a 696 and needed a 700. It should certainly give you 4 points.

If you dispute the account it should also be factored out of your score until it is validated.

[Anonymous]

Sorry I'm at 686, 686 and 681 so I need the middle score at 700 to qualify without paying a 1% penalty on my refinance

The CA was reported in November I believe but I just found out about it

I did send in a dispute to all 3 CRA's with a copy of the contract and a copy of my registered mail delivery confirmtion where I sent in my termination of service

Any chance it might drop off my report UNTIL they validate it???

That might give me enough time to get this deal through

I just can't believe 30+ years of paying every nickle on time and in full gets thrown out the window based on total heresay

will the deduction for the CA become less monthly or does it take a milestone (like 1 year, 3yrs, 7 yrs) for it to drag you down less and then drop off?

The collection agency said they cannot drop it even for full payment..... I guess I could go back to the cell phone company and offer them $660 I totally do not owe them

it seems like extortion......