Unique credit score issue - how to boost?

Question

I’ve been actively working to repair my credit for the last two years. My debt to credit ratio is down, my payments are on time. What’s really dragging down my score are the late payments shown on my record for debts I’ve already paid off, but are still showing on my report.

Any suggestions for how to get rid of these to get me a boost would be much appreciated.

Any suggestions for how to get rid of these to get me a boost would be much appreciated.

Chris Mason · Answer

Have 2-3 open revolving accounts, and keep the balances at 1-15% utilization/max. Pay them off in full every month.

FICO does like when you get right with old creditors, but FICO also likes seeing a modest and conservative credit usage pattern.

One credit card for gas, another for groceries, and the 3rd to buy your significant other flowers.

Once you have a mortgage or two, that'll check the box and you can stop using credit cards when you don't need to.

Stephanie Medellin · Answer

@Lisa M. Super  There's not really a way to easily remove lates from your credit report unless you can get a goodwill removal from the creditor.  Lates can stay on your report up to 7 years.  Unfortunately paying off the debt does not remove the late payments from your record.

As Chris said, if you continue to use credit and make your payments on time, your score will improve and these past items will have less and less impact on your score.