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Question By
w3ab1ak91

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Why can't I get my score to go up?
So I currently have a CK score of 581 TU and 545 EQ. I have 2 open auto loans, 1 never missed a payment in 2 years and the other I missed a payment here and there. I also have 2 installment loans. Both never missed a payment and both opened at least a year. I have a kohl's card ($300), VS ($300) and finger hut ($600). I have 3 collections on both TU and EQ. And all opened originally 2009-2010. I'm making good payment on my cards and loans and just cannot get my score to go up or get approved for a regular card. I'm also unsure that paying these small collections will really help anything or not.

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Have you opened any account(s) and in last 6 months, any the late payments happened in last 12 months, what are the utilizations on credit cards that's been reported every months, how many inquiries in last 6 months?... You might just need time for your scores to go up, if you have many credit activities lately. The way credit scores setup are to disproportionately punish you for the negatives than reward you for the positives, just one late payment could wipe out all your positive payment history and left you feel the effect of it in next 4 or more years.

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You said the collections was "opened originally" in 2009~2010, but when did the bad mark(s) actually happened? Paying on or paid collections doesn't better your scores as vast majority of the scoring models don't distinguish between paid and unpaid collections.

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As long as there are collections

on your Credit Report, Your score will never break 600.  First priority is getting those collection accounts settled.  If you have not been paying on them, I would try a Validation letter first.  Google it for a template and more info. Once verified, They may be good candiates for an "Offer and compromise"  Google it for more info on how those work as well .  

Late pays in the last 2 years have a big effect on your score, You will have to wait those out and hope for the best on those.

Once the collections are settled you should see a jump in your score within a month or so.

Good luck

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