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When should scores improve?


DunDone
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In January I received a large bonus. I paid off nearly $60,000 in card debt, and closed 7 accounts. I still have approximately $22,000 in revolving debt which I am paying off in increasing amounts (snowball method). I have NO lates and only about 6 inquiries, 4 which are like a year old. My FICO is 671 on Transunion. . . . Can anyone suggest when can I expect it to show some movement?

Has anyone had any success with rapid rescoring vendors? Is this a scam?

In the last 3 years I have completely cleaned up my credit using this forum. Went from a 508 to the current numbers (I had my score up to 698, but then it drifted back down . . ) using a combination of DV and disputes.

Thanks everyone for your help.

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It's really impossible to tell what you have done to your credit scores. You say you have closed seven accounts (I certainly hope they were not good, long standing ones.

Ideally one should have five to seven open tradelines for a maximum credit score. Age of accounts is an important factor as well, so you want to keep your older tradelines open as long as there is no derogatory information. Also getting your account balances down to below 30% of available credit helps as well.

On the positive side, you have eliminated quite a large amount of debt, and this has got to feel good. The credit scores will come with good financial decisions in the future.

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