Is the collection (reporting currently) keeping his scores down? He needs two more points.
Mahalo! ~T
Hi T,
Yes, there are a few collection that are keeping his credit score down. I would worry about the collections too much. If you only need a couple of points, I recommend addressing some of the revolving balances. Balances influence 30% of the FICO scores. That's 255 points!!
If you look at this credit scores, you will see a list of the top factors reducing each one of his scores. You will see that the number two reason listed with all three credit agencies is, "proportion of balances to credit limits is too high on bank revolving or other revolving accounts." If we address that factor, we can increase his credit score well beyond a couple of points.
I notice that he has only one open and active revolving account with a balance that exceeds 50% of the credit limit. That is his account with FCU. That account has a limit of $1000 and a balance of $849. I recommend paying that balance down below 50% of the limit which would be $499 or less.
Since his scores all state that high balances on his revolving account are affecting his score, we can pretty much determine that they are talking about his HCFCU account since it's the only account with a derogatory balance. Adjusting this balance should have a huge impact on the score.
Warm Regards,
Jack B. Olson
Jack B. Olson
Account Executive
P - (866) 979-1099 ext. 205
http://www.creditrepairwholesale.com/Credit_Score_Education.html
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