Hey guys and gals, name is Michael. First time ever posting on this forum and new subscriber to the 3B service. What is the best score anyone here has with a collection on their file? I ask because I’ve really chipped away and had 6 collections removed (one paid off, 5 disputed). I have one though that is looking like it’s gonna be unable to be removed for now. It’s about 6 months old. My scores are sitting at a 670 Experian (no collections), 620 Equifax (with the 1 collection), 593 Transunion (with the same collection as Equifax). I was actually at 640 Transunion about 3 weeks ago until I had an emergency and nearly maxed two of my CC’s, which dropped my score about 50 points or what not. Do you guys think if I get totally utilization down from 55-60 percent ish down to 20 or so that I could hit an average 700 score even with 1 collection on file? I’m hoping I can get 680+ by April so I can buy a new car :\. To give an idea of where I’ve come from, I started with an average score of 470 approx 10 months ago.
PS. I realize credit has a ton of factors. So I’ll kinda lay out what I’m working with.
1 car payment (11 payments, no late), 4 credit cards (never missed or late), 1 Target store card (never late or missed). The system is telling me that high utilization+the collection+short credit history is holding me back. My score is very volatile right now and basically can go up or down 50 points easily from either high utilization, OR paying down that balance. The top recommendation by all of the credit simulators is to pay 40 dollars a month for 2 years on cards and it claims that should put me around a 787 score… which doesn’t factor in the removal of the collection. Which tells me that you can definitely hit a 700+ score with a collection or two?