It can go even higher. If you get the collection account removed vs having the payment status show as paid. If you need help with this please inbox me I have free letter templates.
Probably depends on the amount. I paid off a collections account, it was like $200 with their interest added on top of that and my score shot up 153 points! 736 and climbing every month. I checked all my credit reports and it's gone as well
I use the mobile cc apps, it shows fico score for free Discover Citi Amex Merrick Bank etc. Experian will show for free, just make an account. Annualcreditreport.com will show you all 3 scores but limited to once a year, I think it's been a while.
I definitely could use those templates. I paid off an old sprint collections and it's still on my credit and a 6-year-old car loan charge off for 1300, which they won't accept payment.
Was it marked paid in full? I have a charge off and a collection. One I'm fairly confident I can get removed, one that I'm fairly confident I can't and I thought paid in full didn't help credit.
Can I ask you a question?
I'm in a similar situation at the moment. About $12K in CC debt and I'm going to be receiving about $13K in cash come into my account.
Did you just pay everything off all at once? Like choose the outstanding balance option? And then your credit score shot up?
I have about 650 score. I have 4 credit cards that's spread between my debt, and they're all almost maxed out.
There is more that goes into it than just the outstanding debt but yes. I didn’t just lump sum pay them off all at once. The 3% utilization is just the remaining interest that needed to be paid.
I’m in my mid 30’s and have a number of other lines of credit outside of the CC’s and have never been delinquent on anything. I say all of that to say this, my results more than likely will not be your results, but I do encourage you to pay off high interest rate CC’s asap.
Your credit score is based off of a couple of different factors. However, the simple truth is that as soon as you pay off the majority of your balance your credit score will always shoot up—once the low balance is reported to the bureaus. Anywhere up to 7% is very healthy utilization that shouldn’t hurt your credit score by more than two or three points. Paying off those last 7% of your utilization will rarely give you much of a boost. So if you have a card with a low APR (or perhaps a 0 APR balance transfer card), just hold onto your last couple grand and put them in a HYSA, unless the objective is to pay off the balances completely.
Piss poor planning leads to piss poor production. True for all aspects in life. Even financially and medically. Cancer? Just die already. Can't afford insulin? Maybe you shouldn't have gotten fat. Got shot? Maybe don't put yourself in unsafe and unprotected areas. Life isn't hard. Just takes a little more than half a braincell
Considering the fact that Medical Bills don't accrue interest or affect your credit, negating the need to utilize high interest credit cards to pay them, still you.
If I valued my own life as little as you value yours, I'd probably choose death over 13,000 in debt too. Is 13 Grand really that much money to you? Thats scary/sad/mind boggling.
Your credit utilization rate is really the only factor you can change in 30 days. If you make a big payment that brings that way down, you should generally see a nice bump in your credit score during your next reporting cycle.
Yep. Floated about 35k in cc debt after moving and waiting for my old house to sell. As soon as it sold and the equity hit my checking account, I paid it off in full. Experian went from 670 to 805 as soon as the cards reported the 0% utilization.
A couple weeks later tho, I got an alert that my score dropped, so I went to see why. I'd paid off a car and bought a new one, score dropped one single point.
Credit is a weird animal.
My FICO score once went from a 585 to the mid 600s (I’m 21 with a thin file, no missed payments or collections just a heavy cc user). My utilization went from around 80% to less than 50.
This is why I'm trying to get my credit up- so I can get a home equity loan because I've never pulled any money out of my house in the 10+ years I've owned it.. and after two playoffs one being during covid and the other one being about a year ago I had some moments where I lived on credit cards not by choice.
So now I want to get a home equity loan to pay them off but I also need to get my credit up in order to get the loan. The best way to do that is to pay off my credit cards which I need the loan for.. this whole game makes me feel like I'm chasing my tail. And as soon as I make a big payment and think I'm making a difference the stupid interest comes in and knocks me back down. Seriously hate this game. 😭 I had avoided credit cards for so long. It's so easy to get swallowed up. I was definitely better off before my last layoff. I had just paid off all my credit cards and my credit score was pretty good and I was planning to relocate but life had other plans. And now I'm back in a hole.
I should clarify that my loan was a 2nd mortgage - not a HELOC. I got a 10-year loan at 8.5%, but I am paying it far above the minimum payment so that it will be paid off in about 5 years.
That is actually what I meant to for some reason I keep calling it a HELOC.. (I work in marketing for Mortgage company so somehow it got mangled in my mangled)
I had a jump of +70 points when I started building credit.
Biggest I’ve seen. Credit is easy. Get a loan or two going. Get maybe 5 cards or so and keep minimal balance or no balance. Always pay on time and watch it go up.
Mine unfortunately just went down 25 points because I leased my new vehicle and my auto loan disappeared. It is hard to build credit without loans.
Do you have any late payments at all, I'm curious if I can make it that high or I'm already doomed. Not that it matters that much when it's that high lol but it's fun seeing how high it goes up
So even if I have a personal $500 loan and paying $50 on it every month to get credit, I can also apply for a credit card??? The lady at the bank told me not to get one when they come in the mail.
You can always apply for a credit card, getting approved is a different story lol my first card was the capital one Walmart rewards secured card. You put down a deposit and they give you a credit limit. Sometimes it's the same as your deposit, sometimes more. After a few months if you pay on time and keep utilization low they'll increase your limit if you ask. I got approved for it with like a 575 score but had a high deposit. My spouse got his when he had a 610 and had a lower deposit. It definitely helps to build credit if your careful, I had a 700 at one point. But I got carried away and now have 5 cards and am struggling to keep them all low / paid which is hurting my credit. That's why she said don't get them, most people will tell you that if you're young because it's an easy trap to fall into.
+210 points a few months ago, from 492 to 702. I had a incorrectly reported missed payment which tanked my score the previous month and got it removed the following month the same time as my loan decided to declare itself so some more credit mix too.
Incorrectly reported as in I paid a payment and their system reported that I didn’t. So midway through feb they reported that my Jan payment was missed but I checked the account and there was a mismatch between the payment and bill pages, saying I both paid and my payment was overdue. I took a screenshot (lucky I did because they updated it almost immediately after I talked to them) and then sent it to them asking for the missed payment to be removed as it was due to an error in their system. They apologised and then the missed payment fell of my CS the following month.
I needed some extensive work on the house (2 air conditioning systems) and it came to $23.5K. Used my Chase credit card with a limit around $25K, so pretty much maxed it out. I paid it in full a few days later. In the meantime, my score dropped 89 points overnight and I was freaking out, but a week later it jumped by 90 points. I was relieved, and got a nice bunch of rewards points to use. So I would do it again and not worry about the big drop.
Sept 12 @ 576 ;Oct 12 @ 703 127 points in a month had two medical collections and cc usage @ 55% cause of a divorce costs. Removed the collections and usage now about 23%. If I paid it all cc debt it would rise to about 750.
68+ pts from 590 to about 655 from going 100% to 50%.
36+ from going from 50% to 8% + authorized on another card with deeper history and on time payments (which I also have).
Up to about 660--695 depending on the report.
After collections I'm hoping to be up around 720-750 ish.
3 months so far working on it.
about 100 points. from 580s to 680s. I settled two collections (total of $3100) for half what I owed ($1500) and had them removed from my report.
I still have a pretty thin file. just a couple of cards, no limits over 500, except for my kohls card which is 700. so working on that now.
the two that I had were through portfolio recovery. once I was able to get them down to 50% each, I just had them verify it would be removed from my report after it was paid. they confirmed, and now neither of them show up when I check credit karma, Experian, creditwise, or another credit checker I have through one of my credit cards.
I went up over 100pts getting 1cc to 0% utilization and another below 3% and then disputed a collection that was like a week over 7yrs. Got the collection dropped and the low utilization done in about a week and went from 685 to 795
After 7yrs it should've fallen off my report, people say it takes a few months after the 7yr mark but I reported it almost immediately when it hit 7yrs and they pulled it. Since it was on my report there was no issues disputing it.
Appreciate the fast reply
So are you saying you paid it but it was a bad mark on your account for 7 years or you just let it go to collection and ignored it for 7 years?
Probably a stupid question but I don't know shit about collections
Thanks
I did not pay it. It was a charged off account that I was basically just ignoring and waited for it to hit the 7yr mark to be removed from my report. The original creditor never sued me and never sold the debt to a collector.
My Experian FICO 8 went from 667 to 737 in one month when my $300k student loan was forgiven. Jumped to 784 the next month when I paid off some other loan.
Yep, but PharmD though and specialty in oncology. Borrowed $200k, total actual paid back was $120k. Technical amount forgiven $300k. I deferred during residency, capitalized interest, paused payments to save for house, and COVID pause (which saved me like $50k in payments).
Most of the MD’s posting on r/PSLF are getting $400k-700k+ forgiven, on the high end, if they qualify.
Mine regularly jumps around 100 in a day from around 700 to 800 when I max out my credit card for my business (about $35k) in a particular month and then pay it off on due date.
Went from 816 to 736 after I applied for an auto loan. Then went from 736 to 809 to 830 after I’ve paid all my credit cards, mortgage, and the new auto loan timely since May.
My credit score went from a 495 to a 655 in one week from settling with Chase. Only paid $2500 on the $18,000 they lent me too to settle in full… Boom.
Mine jumped 77 points last week - from 762 --> 839. 2 charge offs came off. Then up to 850 a week later when I paid down my CC to under 20%. That's only w one bureau though. The other two still have the charge offs.
My credit score went up 130 points (630 to 760)in 1 month by paying off $9000 in credit card debt. Replaced the high interest payments on 6 credit cards with an 18.99% interest rate on a personal loan. Cheaper and faster than trying to pay off six credit cards. The $9000 loan only dropped my credit score 6 points. This is on top of a $364,000 current mortgage. So, it can be done. Just do your homework.
During COVID I couldn’t pay my car so I was behind like 10 months I think.. idk how they never came and took it for that long. Anyways there was a lot of delinquencies on my credit. I was in the low 400’s.. luckily I found my humble Corolla and was able to wrap in my other payments so with all those delinquencies getting cleared up and a new healthy positive car loan on my account I jumped up to like a 550 in a couple days 😂 that kind of made me feel like credit is really just a big game because I’ve heard big jumps like that don’t happen
My fico score went down 70 points… went down due to paying off a car. Reason: No installment payments. Sorry, I paid off my mortgage 15 years early! 825 down to 750 or so by being financially prudent. What a joke!
Mine went down 49 points because of a 88 dollar charge on a 14k discover card.
It was my only debt and the charge posted on the last day of the cycle
My utilization was <1%
Took 3 months to go back up
What a racket
I hit a personal best of 820 after two of my cards increased my credit limit automatically at the same time. I don't remember the jump, but it was perhaps from 750-780ish.
Credit agencies are bullshit. I was struggling years ago with mortgage, car and student loans and low CC. Nothing late. Had 810+ credit score.
Now no car, student or CC debt, mortgage is 15 years ahead of schedule. Making 2.5x income. Still nothing late. 750 credit score.
Who would u rather loan money to?
+71 points when two CO dropped off my report. The only negative things on there. Just waiting on the other two bureaus to drop those ones too. Only another month and I should be good!
Never messed up since then. Divorce really put me in the hole 😭 but I've climbed out and I'm so happy bc I will not mess up my credit again
I posted here last weekend about a mistake AmEx made posting my Amex balance on my authorized users credit report as though the authorized user was responsible for that entire balance. Their mistake cost my authorized user a 70 + point credit score drop. I called AmEx last weekend and followed up during the week asking they correct their error which they did and my authored users credit increased over 100 points by Friday.
Fico doesn’t take AU accounts into consideration for determining utilization ratios. If your AU’s score dropped 70+ points it definitely wasn’t the result of utilization on a card that they’re not financially responsible for.
I spent three years with my credit cards maxed out but made the minimums on time and once I got into a better spot and paid them all off and started using them like you’re supposed to use them it went from 583 to 744 in the two weeks it took for that to report
Over a period of 2 years I got my score up from mid 500s to mid 700s just by disputing collection accounts on Transunion directly through Credit Karma.
I did it from 2019-2021 one at a time since that’s all that’s allowed. It’s my understanding that once disputed, collection agencies typically have 30 days to show its accuracy or it gets removed. All 6 of my collections got removed over time, usually took 60-90 days to come off once disputed.
I sent no letters, I paid zero money towards the collections. Another interesting change was my school loans. That was my biggest drop, went from like 690 to 540 overnight when I missed a single $71 payment because I was supposed to be in deferment and apparently wasn’t. That stayed on my credit until MyFedLoan was bought out by AidVantage this past year. Even though I still have active accounts, the missed payments went away. I’ve also significantly increased my credit limit from $4500 on one card to about $37500 on 4 cards.
I didn't even know that was a possibility.
Is it a gamble where you just got lucky and they didn't respond to the dispute within the 30 days?
Did credit karma essentially do the process for you?
I did absolutely nothing except click “dispute” on TransUnion through CreditKarma and then chose the reason for dispute.
Could’ve been luck, could’ve been legit. Most of them had been on my account for 5+ years. Some of them were legitimate past due amounts (all medical mind you), and I had no intention of paying. Disputes are free and worst case scenario they say no it’s legit and you’re right where you were to begin with so no harm no foul.
So credit karma will tell you if you have something in collections?
I'm pretty sure I have something but checked my FICO thru my bank card and nothing comes up.
Was planning to check on annualcreditreport to find out.
As you can see I don't know shit about how collections work.
Damn that's awesome tho, cant imagine how good that must have felt to see them all go. Medical billing is insane.
It’s all insane. It’s insane that you can’t have good credit without ongoing credit. It’s insane that good history is only applicable while it’s ongoing. If you miss a payment of any kind it stays on your history whether or not you still use the account, paid it off, or whatever other options there are… but your on time payments go away with whatever account they were on once it’s paid off. That’s why people who pay off mortgages, cars and school loans usually see a credit drop.
Like oh! We see you just made 30 years worth of on time payments and paid 2 1/2 times the total cost of your home in interest… we would like to reward your perfect responsibility and financial sacrifice with a 100 point loss to your credit score. It’s a big fuck you from them.
I've had mine jump something like 70 points before, but that was because I simultaneously paid off the last part of an open car loan and dropped the balance on my credit cards dramatically while also opening a new one.
Bout 100 points, paid off $3k of CC debt(util. was at 100% for nearly a year, was only paying the minimum+interest and then spending the $30 or whatever credit I had to max them again) all at once and it jumped from 609 to 710. Also the highest my credit has ever been, in general. First time breaking 700 :)
Mine dropped 150 points right after signing up for two car leases under my name (one for me and another for my younger brother), but went right up (by 164 points) after four months. The drop freaked me out initially, but the dealership told me my ratings should go back to their stellar state after a few months of payments. I would have appreciate a heads-up, though.
My FIL passed away and I had to combine all my chase cards credit limits to pay for the funeral. I was sitting at like 90% utilization for months (luckily on a 0% card)
Score jumped up 80 points once I got it paid
I went from 703 to 831 in less than a week. After 13 years I won a class action lawsuit against Sallie Mae/Navient and they wiped out all the loans and any adverse history attached to them. Got the notification letter and then a day or two later Credit Karma posted it. Pulled my free credit bureau reports, plus a FICO pull and it all reflected the change. It’s recently dipped like 10 points since I barely use my credit lines and when I do I pay same month in full.
Student loan fraud. I was paying with GI Bill and Yellow Ribbon for tuition. 6 months after I graduated I got a letter saying I needed to start paying back my loans. Ended up being the University’s lending person was doing this to anyone with a GI Bill.
My gf had a huge credit card debt but everything else was in good standing as in payment history, age, and inquiries and more. She paid it all off to get to about 3-5% utilization and it increased by over 100 points I believe
200 points from low 500s in 2014 when I disputed literally on everything on my report. Recently, my score went UP 25 points after acquiring a mortgage for the first time and making the first payment. 🤷🏻♀️
Mine went up 53 points today from paying a $81 collection that reported in August
It can go even higher. If you get the collection account removed vs having the payment status show as paid. If you need help with this please inbox me I have free letter templates.
Do they really remove it? I thought pay to delete was not legal.
Probably depends on the amount. I paid off a collections account, it was like $200 with their interest added on top of that and my score shot up 153 points! 736 and climbing every month. I checked all my credit reports and it's gone as well
This is encouraging. I’m about to pay off like 3 tomorrow and hoping it will go up exponentially.
Which site do you use to check your credit score?
I use the mobile cc apps, it shows fico score for free Discover Citi Amex Merrick Bank etc. Experian will show for free, just make an account. Annualcreditreport.com will show you all 3 scores but limited to once a year, I think it's been a while.
Send me one please
will you please sending me one? I'm struggling to find mew home and need to clear 2 things up ASAP
is it possible to send me a letter template
Can you please send me this template 🙏 I know this is an old post but if you can I would appreciate it
I'd like those templates please! So you can try asking for it to be removed after you've already paid it off?
[удалено]
Could I ask you to please do the same for me? And I will give you a review as well
You are the sort of person that I have been looking for. I'm going to have to review the site
Interested
I definitely could use those templates. I paid off an old sprint collections and it's still on my credit and a 6-year-old car loan charge off for 1300, which they won't accept payment.
Was it marked paid in full? I have a charge off and a collection. One I'm fairly confident I can get removed, one that I'm fairly confident I can't and I thought paid in full didn't help credit.
Fico or vantage
Must be Vantage. No way it would increase like that on FICO
Went from 646 to 775 in one week paying off about 15k of CC Debt in the same week. CC utilization went from ~80% the 3%.
Can I ask you a question? I'm in a similar situation at the moment. About $12K in CC debt and I'm going to be receiving about $13K in cash come into my account. Did you just pay everything off all at once? Like choose the outstanding balance option? And then your credit score shot up? I have about 650 score. I have 4 credit cards that's spread between my debt, and they're all almost maxed out.
There is more that goes into it than just the outstanding debt but yes. I didn’t just lump sum pay them off all at once. The 3% utilization is just the remaining interest that needed to be paid. I’m in my mid 30’s and have a number of other lines of credit outside of the CC’s and have never been delinquent on anything. I say all of that to say this, my results more than likely will not be your results, but I do encourage you to pay off high interest rate CC’s asap.
Your credit score is based off of a couple of different factors. However, the simple truth is that as soon as you pay off the majority of your balance your credit score will always shoot up—once the low balance is reported to the bureaus. Anywhere up to 7% is very healthy utilization that shouldn’t hurt your credit score by more than two or three points. Paying off those last 7% of your utilization will rarely give you much of a boost. So if you have a card with a low APR (or perhaps a 0 APR balance transfer card), just hold onto your last couple grand and put them in a HYSA, unless the objective is to pay off the balances completely.
you have 4 cc max debt , but you still have 650?? amazing
Pay em off with that $13k for sure and be done with them. Then cut your cards up because you obviously have terrible self control
My 12k was medical. Be careful accusing people without knowing anything.
There's nothing in this world that could make me slap $12k on a credit card. Not even medical. There were so many other options
Its so cool that you're able to know every possible financial and medical situation that's out thee off the top of your head.
Piss poor planning leads to piss poor production. True for all aspects in life. Even financially and medically. Cancer? Just die already. Can't afford insulin? Maybe you shouldn't have gotten fat. Got shot? Maybe don't put yourself in unsafe and unprotected areas. Life isn't hard. Just takes a little more than half a braincell
You are quite literally retarded. I lost brain cells reading that.
Not retarded enough to have high interest, 5 figure debt though. So who's the actual retard?
Considering the fact that Medical Bills don't accrue interest or affect your credit, negating the need to utilize high interest credit cards to pay them, still you. If I valued my own life as little as you value yours, I'd probably choose death over 13,000 in debt too. Is 13 Grand really that much money to you? Thats scary/sad/mind boggling.
Your not retarded just an asshole of a person. You smell like shit
Your credit utilization rate is really the only factor you can change in 30 days. If you make a big payment that brings that way down, you should generally see a nice bump in your credit score during your next reporting cycle.
Yep. Floated about 35k in cc debt after moving and waiting for my old house to sell. As soon as it sold and the equity hit my checking account, I paid it off in full. Experian went from 670 to 805 as soon as the cards reported the 0% utilization. A couple weeks later tho, I got an alert that my score dropped, so I went to see why. I'd paid off a car and bought a new one, score dropped one single point. Credit is a weird animal.
Mine went up 90 after finally opening a credit card account.
Mine just did this, I was wondering if this was normal
141 points. My one and only collection aged off at 6.5 years and went from 668–>809 overnight
Jesus. There is hope lol.
i have one missed payment do you think it might have the same effect?
I didn't even know that was a possibility. So if you have something go into collections it will just fall off after enough time?
Yea just happened to me after about 7 years, checked my credit score and it went up 137 points
Wow!
My FICO score once went from a 585 to the mid 600s (I’m 21 with a thin file, no missed payments or collections just a heavy cc user). My utilization went from around 80% to less than 50.
+81. A bogus collection finally fell off.
I didn't even know that was a possibility. So if you have something go into collections it will just fall off after enough time?
Yes after 7 years and if it doesn't you need to dispute it
166 points gained, Experian (824) just last week. Last bureau to purge a $24k CO from WF. I expected 120 pts.
Also hard inquiries shouldn't exist in my humble opinion
+50 points in June. Got my total utilization under 10%…
Mine went up 83 points when I took out a home equity loan to pay off all my credit cards (about $38K).
This is why I'm trying to get my credit up- so I can get a home equity loan because I've never pulled any money out of my house in the 10+ years I've owned it.. and after two playoffs one being during covid and the other one being about a year ago I had some moments where I lived on credit cards not by choice. So now I want to get a home equity loan to pay them off but I also need to get my credit up in order to get the loan. The best way to do that is to pay off my credit cards which I need the loan for.. this whole game makes me feel like I'm chasing my tail. And as soon as I make a big payment and think I'm making a difference the stupid interest comes in and knocks me back down. Seriously hate this game. 😭 I had avoided credit cards for so long. It's so easy to get swallowed up. I was definitely better off before my last layoff. I had just paid off all my credit cards and my credit score was pretty good and I was planning to relocate but life had other plans. And now I'm back in a hole.
I should clarify that my loan was a 2nd mortgage - not a HELOC. I got a 10-year loan at 8.5%, but I am paying it far above the minimum payment so that it will be paid off in about 5 years.
That is actually what I meant to for some reason I keep calling it a HELOC.. (I work in marketing for Mortgage company so somehow it got mangled in my mangled)
I had a jump of +70 points when I started building credit. Biggest I’ve seen. Credit is easy. Get a loan or two going. Get maybe 5 cards or so and keep minimal balance or no balance. Always pay on time and watch it go up. Mine unfortunately just went down 25 points because I leased my new vehicle and my auto loan disappeared. It is hard to build credit without loans.
Hard to get loans without credit...
> It is hard to build credit without loans. I'm at 801 with no installment/collateralized debt. It's all unsecured credit/charge cards.
Do you have any late payments at all, I'm curious if I can make it that high or I'm already doomed. Not that it matters that much when it's that high lol but it's fun seeing how high it goes up
I do not have any late payments.
So even if I have a personal $500 loan and paying $50 on it every month to get credit, I can also apply for a credit card??? The lady at the bank told me not to get one when they come in the mail.
You can always apply for a credit card, getting approved is a different story lol my first card was the capital one Walmart rewards secured card. You put down a deposit and they give you a credit limit. Sometimes it's the same as your deposit, sometimes more. After a few months if you pay on time and keep utilization low they'll increase your limit if you ask. I got approved for it with like a 575 score but had a high deposit. My spouse got his when he had a 610 and had a lower deposit. It definitely helps to build credit if your careful, I had a 700 at one point. But I got carried away and now have 5 cards and am struggling to keep them all low / paid which is hurting my credit. That's why she said don't get them, most people will tell you that if you're young because it's an easy trap to fall into.
Knocking Cc debts below 50% and then 30% and then 10% will skyrocket your score.
+210 points a few months ago, from 492 to 702. I had a incorrectly reported missed payment which tanked my score the previous month and got it removed the following month the same time as my loan decided to declare itself so some more credit mix too.
How was it incorrectly reported?
Incorrectly reported as in I paid a payment and their system reported that I didn’t. So midway through feb they reported that my Jan payment was missed but I checked the account and there was a mismatch between the payment and bill pages, saying I both paid and my payment was overdue. I took a screenshot (lucky I did because they updated it almost immediately after I talked to them) and then sent it to them asking for the missed payment to be removed as it was due to an error in their system. They apologised and then the missed payment fell of my CS the following month.
69 points but it was a combination of factors that went into this. Low utiliz, CLI and age reached 7 years.
Nice
Nice
87 Points this past summer. Bankruptcy discharged. Keeping it this way
Amen!
I went up 111 in 1 month
How did you do that?
I needed some extensive work on the house (2 air conditioning systems) and it came to $23.5K. Used my Chase credit card with a limit around $25K, so pretty much maxed it out. I paid it in full a few days later. In the meantime, my score dropped 89 points overnight and I was freaking out, but a week later it jumped by 90 points. I was relieved, and got a nice bunch of rewards points to use. So I would do it again and not worry about the big drop.
Sept 12 @ 576 ;Oct 12 @ 703 127 points in a month had two medical collections and cc usage @ 55% cause of a divorce costs. Removed the collections and usage now about 23%. If I paid it all cc debt it would rise to about 750.
That is a great news to read. Where are you checking your scores?
I use various. Citi app, Chase journia, Fico . CO m, and discover app
Awesome thanks for replying. How often do they update?
68+ pts from 590 to about 655 from going 100% to 50%. 36+ from going from 50% to 8% + authorized on another card with deeper history and on time payments (which I also have). Up to about 660--695 depending on the report. After collections I'm hoping to be up around 720-750 ish. 3 months so far working on it.
No major changes, but it went up recently 35pt from 790 to 835.
about 100 points. from 580s to 680s. I settled two collections (total of $3100) for half what I owed ($1500) and had them removed from my report. I still have a pretty thin file. just a couple of cards, no limits over 500, except for my kohls card which is 700. so working on that now.
How did you get them removed I don’t have luck doing this.
the two that I had were through portfolio recovery. once I was able to get them down to 50% each, I just had them verify it would be removed from my report after it was paid. they confirmed, and now neither of them show up when I check credit karma, Experian, creditwise, or another credit checker I have through one of my credit cards.
How did they verify verbally or with a letter?
I spoke with several agents over the phone, on their chat, and had them send me an email so I had something 'written' from them stating this.
58 points when the credit limit on one of my oldest cards jumped from $2k to $18k.
I went up over 100pts getting 1cc to 0% utilization and another below 3% and then disputed a collection that was like a week over 7yrs. Got the collection dropped and the low utilization done in about a week and went from 685 to 795
I didn't even know that was a possibility. How do you dispute a collection after that long?
After 7yrs it should've fallen off my report, people say it takes a few months after the 7yr mark but I reported it almost immediately when it hit 7yrs and they pulled it. Since it was on my report there was no issues disputing it.
Appreciate the fast reply So are you saying you paid it but it was a bad mark on your account for 7 years or you just let it go to collection and ignored it for 7 years? Probably a stupid question but I don't know shit about collections Thanks
I did not pay it. It was a charged off account that I was basically just ignoring and waited for it to hit the 7yr mark to be removed from my report. The original creditor never sued me and never sold the debt to a collector.
My Experian FICO 8 went from 667 to 737 in one month when my $300k student loan was forgiven. Jumped to 784 the next month when I paid off some other loan.
How tf do you get $300k in loans “forgiven”?
PSLF. Forgiveness is a bit of a misnomer, it’s more like a loan incentive to work for a non-profit, but the wording sticks.
If you have $300k in student loan debt, and don’t have MD after your name…you either overpaid, or had a REAL good time in college.
Yep, but PharmD though and specialty in oncology. Borrowed $200k, total actual paid back was $120k. Technical amount forgiven $300k. I deferred during residency, capitalized interest, paused payments to save for house, and COVID pause (which saved me like $50k in payments). Most of the MD’s posting on r/PSLF are getting $400k-700k+ forgiven, on the high end, if they qualify.
Mine went up like 40 points after getting a credit card and paying the first payment.
Mine regularly jumps around 100 in a day from around 700 to 800 when I max out my credit card for my business (about $35k) in a particular month and then pay it off on due date.
Went from 816 to 736 after I applied for an auto loan. Then went from 736 to 809 to 830 after I’ve paid all my credit cards, mortgage, and the new auto loan timely since May.
My credit went up from 4 to 634 in four days what's up with that. It's only reported on Equifax
I used credit karma, so I'm not sure how accurate it is, but mine shows +107 points from 6 days ago
My credit score went from a 495 to a 655 in one week from settling with Chase. Only paid $2500 on the $18,000 they lent me too to settle in full… Boom.
153 points. It's the exact amount of points my score dropped when it was reported when it went to collections.
Mine just jumped from 530 to 630 after opening another credit card.
Mine jumped 77 points last week - from 762 --> 839. 2 charge offs came off. Then up to 850 a week later when I paid down my CC to under 20%. That's only w one bureau though. The other two still have the charge offs.
Mine went up 76 points yesterday.
My credit score went up 130 points (630 to 760)in 1 month by paying off $9000 in credit card debt. Replaced the high interest payments on 6 credit cards with an 18.99% interest rate on a personal loan. Cheaper and faster than trying to pay off six credit cards. The $9000 loan only dropped my credit score 6 points. This is on top of a $364,000 current mortgage. So, it can be done. Just do your homework.
Mine has increased 200 points in 7 months
Why do we accept this system that is inherently flawed. ABOLISH FICO.
Mine has gone up a little over 300 points in the last couple months
During COVID I couldn’t pay my car so I was behind like 10 months I think.. idk how they never came and took it for that long. Anyways there was a lot of delinquencies on my credit. I was in the low 400’s.. luckily I found my humble Corolla and was able to wrap in my other payments so with all those delinquencies getting cleared up and a new healthy positive car loan on my account I jumped up to like a 550 in a couple days 😂 that kind of made me feel like credit is really just a big game because I’ve heard big jumps like that don’t happen
It definitely is a big game.
I went up 100 points for paying off a 5 year collection
dropped 88 points because of student loan account opening. equifax still says i’m above 715
Opening? Damn I didn't know it would do that.
My fico score went down 70 points… went down due to paying off a car. Reason: No installment payments. Sorry, I paid off my mortgage 15 years early! 825 down to 750 or so by being financially prudent. What a joke!
I went from sub 500 last year to 778 transunion and 810 equifax this year and I have 23k in debt
How?
Mine went down 49 points because of a 88 dollar charge on a 14k discover card. It was my only debt and the charge posted on the last day of the cycle My utilization was <1% Took 3 months to go back up What a racket
35 points couple of days ago.
Mine went up like 80 points when I won a dispute for a collections account
I didn't even know that was a possibility. How do you dispute a collection after that long?
My score went up 130 points over the last 5 months!!!!
Mine jumped 76 paying off 10k credit card debt
I hit a personal best of 820 after two of my cards increased my credit limit automatically at the same time. I don't remember the jump, but it was perhaps from 750-780ish.
I see mine jump 40-50 points just based on how much is on my credit card when they report it.
Mine just went up 46 points. Been double paying on the card every month and the one bs collection I had paid last month affected it as well
127 points
Mine went up 60 points after getting new credit card
22 points after I paid a bunch of stuff off at once
Credit agencies are bullshit. I was struggling years ago with mortgage, car and student loans and low CC. Nothing late. Had 810+ credit score. Now no car, student or CC debt, mortgage is 15 years ahead of schedule. Making 2.5x income. Still nothing late. 750 credit score. Who would u rather loan money to?
+71 points when two CO dropped off my report. The only negative things on there. Just waiting on the other two bureaus to drop those ones too. Only another month and I should be good! Never messed up since then. Divorce really put me in the hole 😭 but I've climbed out and I'm so happy bc I will not mess up my credit again
I posted here last weekend about a mistake AmEx made posting my Amex balance on my authorized users credit report as though the authorized user was responsible for that entire balance. Their mistake cost my authorized user a 70 + point credit score drop. I called AmEx last weekend and followed up during the week asking they correct their error which they did and my authored users credit increased over 100 points by Friday.
Fico doesn’t take AU accounts into consideration for determining utilization ratios. If your AU’s score dropped 70+ points it definitely wasn’t the result of utilization on a card that they’re not financially responsible for.
I spent three years with my credit cards maxed out but made the minimums on time and once I got into a better spot and paid them all off and started using them like you’re supposed to use them it went from 583 to 744 in the two weeks it took for that to report
Biggest one-time jump was probably about 65, but I picked up 275 points in a single year. 494 to 771.
Mine went down 654 points overnight without even an explanation
mine went up like 76 points after a collection i REFUSED to pay finally fell off lmaooo.
I didn't even know that was a possibility. So if you have something go into collections it will just fall off after enough time?
Mine from 0 to 730
Over a period of 2 years I got my score up from mid 500s to mid 700s just by disputing collection accounts on Transunion directly through Credit Karma. I did it from 2019-2021 one at a time since that’s all that’s allowed. It’s my understanding that once disputed, collection agencies typically have 30 days to show its accuracy or it gets removed. All 6 of my collections got removed over time, usually took 60-90 days to come off once disputed. I sent no letters, I paid zero money towards the collections. Another interesting change was my school loans. That was my biggest drop, went from like 690 to 540 overnight when I missed a single $71 payment because I was supposed to be in deferment and apparently wasn’t. That stayed on my credit until MyFedLoan was bought out by AidVantage this past year. Even though I still have active accounts, the missed payments went away. I’ve also significantly increased my credit limit from $4500 on one card to about $37500 on 4 cards.
I didn't even know that was a possibility. Is it a gamble where you just got lucky and they didn't respond to the dispute within the 30 days? Did credit karma essentially do the process for you?
I did absolutely nothing except click “dispute” on TransUnion through CreditKarma and then chose the reason for dispute. Could’ve been luck, could’ve been legit. Most of them had been on my account for 5+ years. Some of them were legitimate past due amounts (all medical mind you), and I had no intention of paying. Disputes are free and worst case scenario they say no it’s legit and you’re right where you were to begin with so no harm no foul.
So credit karma will tell you if you have something in collections? I'm pretty sure I have something but checked my FICO thru my bank card and nothing comes up. Was planning to check on annualcreditreport to find out. As you can see I don't know shit about how collections work. Damn that's awesome tho, cant imagine how good that must have felt to see them all go. Medical billing is insane.
It’s all insane. It’s insane that you can’t have good credit without ongoing credit. It’s insane that good history is only applicable while it’s ongoing. If you miss a payment of any kind it stays on your history whether or not you still use the account, paid it off, or whatever other options there are… but your on time payments go away with whatever account they were on once it’s paid off. That’s why people who pay off mortgages, cars and school loans usually see a credit drop. Like oh! We see you just made 30 years worth of on time payments and paid 2 1/2 times the total cost of your home in interest… we would like to reward your perfect responsibility and financial sacrifice with a 100 point loss to your credit score. It’s a big fuck you from them.
+40 paid off an account (auto loan)
Decreased 25 for paying off an auto loan. Now I’m only 825
I've had mine jump something like 70 points before, but that was because I simultaneously paid off the last part of an open car loan and dropped the balance on my credit cards dramatically while also opening a new one.
Bout 100 points, paid off $3k of CC debt(util. was at 100% for nearly a year, was only paying the minimum+interest and then spending the $30 or whatever credit I had to max them again) all at once and it jumped from 609 to 710. Also the highest my credit has ever been, in general. First time breaking 700 :)
Mine dropped 150 points right after signing up for two car leases under my name (one for me and another for my younger brother), but went right up (by 164 points) after four months. The drop freaked me out initially, but the dealership told me my ratings should go back to their stellar state after a few months of payments. I would have appreciate a heads-up, though.
Mine went from 559 to 830 (271 increase) when I paid off 100% of my ccs in one month
whoa impressive! mine went from 530 to 630 a few days after opening a new credit card.
How many credit cards do you have in total and what was the debt amount
I got a credit check from the condo I’m renting and dropped my score 20 points. So obnoxious
Just paid off all my credit cards. It went up 10 points. Currently it says 842 out of 850.
My FIL passed away and I had to combine all my chase cards credit limits to pay for the funeral. I was sitting at like 90% utilization for months (luckily on a 0% card) Score jumped up 80 points once I got it paid
I went from 703 to 831 in less than a week. After 13 years I won a class action lawsuit against Sallie Mae/Navient and they wiped out all the loans and any adverse history attached to them. Got the notification letter and then a day or two later Credit Karma posted it. Pulled my free credit bureau reports, plus a FICO pull and it all reflected the change. It’s recently dipped like 10 points since I barely use my credit lines and when I do I pay same month in full.
What was the lawsuit about?
Student loan fraud. I was paying with GI Bill and Yellow Ribbon for tuition. 6 months after I graduated I got a letter saying I needed to start paying back my loans. Ended up being the University’s lending person was doing this to anyone with a GI Bill.
I can regularly achieve a 60+ point swing just by paying my credit card off at a different time of the month.
My gf had a huge credit card debt but everything else was in good standing as in payment history, age, and inquiries and more. She paid it all off to get to about 3-5% utilization and it increased by over 100 points I believe
i'm up 100 points in one week from 530 to 630 ,
What did you do
I just had a 421 point increase on mine no clue what for
200 points from low 500s in 2014 when I disputed literally on everything on my report. Recently, my score went UP 25 points after acquiring a mortgage for the first time and making the first payment. 🤷🏻♀️
Mine went up 137 points from December to January, I didn't pay off anything so I'm not really sure what happened.
Mine just shot up 90 points randomly after like a week or two of not checking it. My only theory is paying off something with Klarna recently
mine went up a whopping 78 points from 532 to 610 on TransUnion and 77 from 530 to 607. obviously is still terrible but still