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Removed Collection and got Bupkiss

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I finally FINALLY got my last collection removed.. I was expecting a nice bump... 10 or 20.. or 50 points... guess what i got.. nothing.. is this normal? was i foolish to expect more? The collection was scheduled to drop off in about 18 months so maybe the fact it was so old minimized its impact. I don't know.. Id much rather have it gone but i was hoping it would have made a bigger difference. My utilization is in the 50s so I am hoping as it gets under control that it will have a bigger impact.. maybe my other blemishes are still holding me back.. who knows.. just was curious if anyone else had a similar situation.. 

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Any 90+ DL or CO account is just as bad as a collection account. Only when you get the last serious derog removed will you see that big bump. 

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I had a similar thing happen recently - I had 3 derogs left on my report:  2 charge-offs and 1 collection.  The collection dropped off a few months ago, and my score went up maybe 5 points.  But when the 2 charge-offs dropped off on July 1st leaving my report with no derogatories at all, my score jumped over 100 points.  

Utilization is also a big factor.  You'll probably see a notable increase by getting that from >50% down to less than 7%.  

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When I had my only collection removed (Thanks WhyChat!!!!) my TU barely moved because I was over 30% utilization.  I was able to immediately pay down the utilization to 22% and my TU went from 670 to 721!

Edited by oncredit

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As was pointed out in the other thread, OP moved to a new scorebucket.  Although they have a clean report, they are mixed in with the majority of people who ALSO have clean reports.  Utilization is a killer in this barrel...OP needs to get that util% into single digits before they will see a meaningful jump and, as Hege points out, they need to work on the other part of credit repair and begin getting some decent cards with decent limits. 

 

DO NOT fall into the trap of getting a bunch of crappy crap crap store cards.  They tend not to grow and they do nothing for the individual.  If you were actually going to USE the card, that is a different story, especially if the in-store rewards can benefit more than a good rewards card on the V/MC/AXP networks...

 

I am confused by the 'other blemishes' comment though.  If this means there are other derogatory entries related to late payments, then yeah, those are score killers until they depart the report.

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7 hours ago, centex said:

As was pointed out in the other thread, OP moved to a new scorebucket.  

You have it backwards. Rebucketing takes time. The concept of rebucketing is that although your score will go up immediately upon removal of bad information, you won't reach your max score potential until you are rebucketed in the better group. It also refers to seeing your score drop randomly a couple of months after significant change. If you've moved into a higher bucket and now your profile doesn't compare as favorably with the new group you'll see a drop after a couple of months. The common thread is that rebucketing always refers to something that happens after a couple of months after a change.

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16 hours ago, shifter said:

You have it backwards. Rebucketing takes time. The concept of rebucketing is that although your score will go up immediately upon removal of bad information, you won't reach your max score potential until you are rebucketed in the better group. It also refers to seeing your score drop randomly a couple of months after significant change. If you've moved into a higher bucket and now your profile doesn't compare as favorably with the new group you'll see a drop after a couple of months. The common thread is that rebucketing always refers to something that happens after a couple of months after a change.

If a score is pulled based upon a report with derogs and then a different report is used that has zero derogs, then there are different buckets.  Not a difficult notion to grasp.  And in this instance, OP is now being measured (potentially given some of the other fragments that there might actually be other derogatory entries related to lates) against persons with no derogs who don't have off-the-chart utilization.

 

If there were, in fact, still some lates hanging around, it becomes easier to grasp why no substantial movement given the antiquity of the item the OP had described.  It had long since lost the most damaging impact to the score. 

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thanks to everyone who has posted.. i have lots more info on where I am.. the only defogs that i have are lates on 4 capital one accounts (two credit cards and two auto loans) that were from 3 years ago.. I have resigned i can't do anything about those but what i can do i get my utilization down.. and that will have biggest impact on my scores especially the "ghost" card(aka a card that is closed with a balance, I'm not sure if there is a technical term). Any way thanks again.. the fight continues #stepbystep 

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On 7/10/2018 at 11:07 AM, centex said:

And in this instance, OP is now being measured (potentially given some of the other fragments that there might actually be other derogatory entries related to lates) against persons with no derogs who don't have off-the-chart utilization.

That's what I'm saying is the part you have backwards. Immediately after getting derogs removed, you will still be in the dirty bucket thereby keeping your scores artificially low because that bucket has a max limit. You're not rebucketed for a couple of months to the clean bucket which actually will increase your score, not decrease it due to util issues.

 

Of course this is all moot given the OP has other 3 year old derogs, which are what's keeping his score down. 

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