on your credit score? I have three collection accounts on all three CRA's that I have negotiated to be removed after payment. This will occur in the next month, what type of increase in my scores will this have? TIA!
That is a pretty significant increase! I have 8 postive accounts on all CRA's no lates. From 3 months to 3 years. The oldest card is a CapOne with a 500.00 dollar limit. From my research on this board thus far, I think by increasing my limit will do wonders for my score since i usually pay it in full each month. I did the PFB letter and Mr Cooke responded the next day. I think it is an auto responder, when I called he was on vacation. I will find out the deal next week when he is back in the office.
How old are these collections???? The more recent they are the better the jump, if one of these collection accounts is older, you may not see quite a jump b/c you take away age, not fair of course but I have seen it happen.
I just had a 2 yr old and a 3 yr old collection accounts deleted along with adding a positive account with high limit low balance AND 11 inquiries deleted for a total of 2 measly points.
How old are these collections???? The more recent they are the better the jump, if one of these collection accounts is older, you may not see quite a jump b/c you take away age, not fair of course but I have seen it happen. They appearred on my credit report about 2 months ago. My I 2 phone line in her house. She let the bills get out of hand. Now she is paying me back and I am paying the phone company. I heard it was better to deal directly with the creditor thanj the CA's
I had a 2 1/2 year old paid collection removed and it got me one whole point. The rest of my report was clean except for high balances on my credit card accounts.
How does the amount of the account figure in? Would a 3 month old account for $20 dollars mean a bigger jump in points that a 5 year old account for $500 dollars?
I don't think the amount of the collection account really matters. A collection acct is a collection acct. that is what matters.
Yeah I'm all confused regarding this issue too. I had an unpaid Judgement deleted from Experian just last week and my score did not change at all. But I did have a CA added a couple of days later (reinserted is a better term) for 30 dollars from 5 years ago and my score dropped 3 points. Go figure.
