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KC1371

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I got a mystery drop of 29 pts. Any idea where it came from?
I want to actively build credit. But I have 2 accounts in collections so I have been waiting to do anything proactive until I get them taken care of. I paid off one (it was only $212 but it was there a while). CK shows the account still on my report (I understand, I paid it about a week ago) but my score dropped 29 points. I have not done anything else credit-related. I did take an electric bill changed into my name that was a couple hundred dollars behind, but I don't know if that would change a credit score? Please help...? TIA

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First, don't worry about scores bouncing around on here, Vantage is used and that seems to be typical of the Vantage system. For a more accurate read of your credit, purchase your FICO scores from time to time, but there is really no need to do that at this point as you have work ahead of you. You do NOT need to wait to build good accounts due to the collection accounts, that is completely incorrect, you should be working to get open accounts in good standing, get a Secured credit card if need be. Simply paying collection accounts does not remove the account, it just gets it marked as paid, which doesn't do much to help your credit, You should try to get a "pay for delete agreement" for any unpaid collections left on your reports. If the electric bill is not on your reports, it is not affecting your credit. Anyway, I do NOT believe that a balance on an electric bill can be transferred, the service can be transferred to another name, but the previous person will be responsible for the previous amount due. All I can advise is to read, read and read some more, if you really want to get on the right track.

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