Quick Background....my credit score one year ago was non existent. I literally did not have a score! I had some negative items on my credit report in the form of charge off's/collection accounts. Opened 2 credit card accounts within the last 12 months with Orchard and First Premier Banks and more recently Washington Mutual. I've been current on paymts and now have a FICO of 636. Not great definitely room for improvement. I have 4 items that are due to come off of my report within the next 8 months. How much can I expect my credit score to increase with the timely payments being reported and these 4 neagtive items being removed. This is my first post so please bear with the long winded explanation as I learn. Thanks! J
Nobody can accurately say how much your score will rise or fall with changes. There is a product at www.myfico.com that can help to predict score changes based on additions or deletions from your CRs.
The longer a negative account is reported, the less impact it has on your score. I have seen it said that ANY negative info will cost you 30 points, so might see that back when the last negative comes off. As squeek said, nobody can really say for sure what will happen, there are just too many variables that figure into FICO's calculations.
Unfortunately, age is a huge positive, so don't be terribly surprised if you lose points when the old baddies fall off. It's happened to me more than once.
Your score can rise and fall when tradelines are taking off your credit. Just cross your fingers and hope for the best. When I was preparing to buy a home, seem like my score just would not get past 600, but I kept working at it and it finally got to where I wanted it to so that I could buy a home. I have now been in my home almost a year. I am so happy.
