I'm wondering if anyone can tell me how much it takes to get your credit score up? For example, if I have a couple of collections that I take care of, let's say they total about $1000--how much can I expect my score to change? Or if there are collections or other delinquencies that are on my report which shouldn't be there, how much can I expect my score to go up if they are deleted? Is there any "rule" or anything to go by????
No known rule in credit scores. A paid collection is no better than an unpaid collection as far as credit score. If you have several removing one will help but not a lot. Removing last collection will earn a good jump. Good luck!
isn't it true that removing the most recent collection will boost your score even if there are others, because itd further in the past???
Age of the account and the number of accounts factor into it. If you have several collection accounts simply getting the most recent removed may not mean much of an increase. To many variables to make an accurate prediction. Gib
You can pull your credit report from Experian with Credit Score simulator. The simulator shows line graphs of your current situations - years of credit history, credit limits, delinquent accounts, current balance on accounts, etc. With this simulator you can see how your score is affected (in THEORY) based on the changes in your financial situation. For example, if you have 3 delinquent account, you can move the Delinquent Accounts graph down to 2, 1, or 0 and each time you move it the score changes. You can do the same thing to all credit factors that determine your score. The credit report with simulator costs $14.95. Hope this helps.
