The Master Credit Score Mad Scientist Thread

[BobWang]

It was always my understanding that was a cash flow consideration. That totals did not matter, monthly obligations did. Maybe they don't think she can handle the $36, lol.

We're having ramen to scrape up the $36.

[billyd]

It was always my understanding that was a cash flow consideration. That totals did not matter, monthly obligations did. Maybe they don't think she can handle the $36, lol.

We're having ramen to scrape up the $36.

 

Bobby,

Great read here. Some quick questions for you. THE GOOD: I have a bunch of student loans (about 12) that were sold (so 24 lines, 12 closed/paid/never late and 12 open/never late). I could pay them off now but I'd rather stick my cash in an IRA or some stock. Also my AAOA is about 6 years (with these loans). I have one Cap1 card that I am a AU (my longest card which shows my credit history as 10 years). Since I am not the primary on the account, the balance is high (like 75%). THE BAD: I have a student loan from a lender with one late in Jan 2011 and 3 lates in 2010. I don't believe this is mine because its always been in deferment - so I am contesting it. Also have a Collection Account on my report for a bank credit card charge off (not on my report). Reported on Jan 2011 but some activity on June 2011.

What do you recommend? Get rid of the CA first then go after the SL lates? I'm looking to apply for some new cards and keep them but wondering if I need to start low and work up? I'd like to get a Chase Freedom or equiv.

Edited April 29, 2012 by billyd

[BobWang]

The CA should be hurting MUCH more than any lates.

 

So, I would go after that one hammer and tongs.

 

I don't think there's a downside to tackling the lates at the same time, but I could be wrong.

[BobWang]

I'm a big believer in knowing where you stand.

 

So, use Credit Karma & Credit Sesame to give you a rough idea.

 

Then, go for Walmart and/or DCU for the real FICOs.

 

BOTH of my ESs got "Pre-Approved" offers for the Chase Freedom, so you should be getting those too as your credit improves.

[billyd]

The CA should be hurting MUCH more than any lates.

 

So, I would go after that one hammer and tongs.

 

I don't think there's a downside to tackling the lates at the same time, but I could be wrong.

 

Bob,

You rock!

The CA I think I can get removed because 1) it is reporting my name wrong (i.e. Mikhala Johnson when its Mike Johnson - no this isn't my real name nor is it anyone elses that I know of) and 2) my address is wrong too, reporting a different city. Since the charge off account isn't on there, I think this should come off easily.

 

The lates are a different story. I have written to the lender company to no avail. They say the lates are valid. However the account number on my CR is different than my account number with them, so I have a shot, I think; to get it contested. My only question on this is, should I contest it while the account is open (there's 2 tradelines, so maybe consolidate it?) OR pay it off then contest it?

Again, you rock and da man!

[BobWang]

I'm a complete newbie as far as credit repair goes, so somebody else will have to handle this one.

[billyd]

I'm a big believer in knowing where you stand.

 

So, use Credit Karma & Credit Sesame to give you a rough idea.

 

Then, go for Walmart and/or DCU for the real FICOs.

 

BOTH of my ESs got "Pre-Approved" offers for the Chase Freedom, so you should be getting those too as your credit improves.

 

Credit Sesame says my score is 711.

[BobWang]

Credit Sesame says my score is 711.

Your FICO score could be 100 points lower, since CS doesn't include many negative factors.

 

Look at your Credit Karma TransRisk AND Vantage scores as well.

[billyd]

Credit Sesame says my score is 711.

Your FICO score could be 100 points lower, since CS doesn't include many negative factors.

 

Look at your Credit Karma TransRisk AND Vantage scores as well.

 

Dang. My scores are about 600-650 on Karma. But they pull TU and I have that charge off on TU and 3 hard inquires that aren't on my Experian (Credit Sesame pulls) and my CR doesn't show it either.

[patz2009]

I'm trying to get my brother to do a similar project. He's currently got no credit history except some student loans in deferment. Almost a clean slate to experiment with

[BobWang]

Even the 600s will get you a Walmart card, and the FREE monthly new & improved TransUnion FICO 08.

[BobWang]

I'm trying to get my brother to do a similar project. He's currently got no credit history except some student loans in deferment. Almost a clean slate to experiment with

Clean slates are fun.

[BobWang]

ES1 got a fat package today.

 

Pre-approved AmEx PRG.

 

Where's mine?!!

[patz2009]

I just got a fat package from AmEx today too.

[BobWang]

Vantage Score takes a big hit with any lates.

 

Daddy's Little Girl & Hubby, who had numerous 30 & 60 day lates while deployed to Iraq 5 years ago

 

DLG

2012-04-03 CS=833

2012-04-21 CK TR=791, Auto=881, Vantage=951

 

DLGH

2012-04-03 CS=823

2012-04-21 CK TR=774, Auto=888, Vantage=838

[Repairerer]

Bob, what is DLGH util and inqs?

 

I still have an account with a bunch of really severe delinquencies on TU, the last being only 3 years and a few months. But my CK Vantage score is 949.

 

Vantage is screwy, I don't understand it.

[BobWang]

Bob, what is DLGH util and inqs?

 

I still have an account with a bunch of really severe delinquencies on TU, the last being only 3 years and a few months. But my CK Vantage score is 949.

 

Vantage is screwy, I don't understand it.

His utilization is basically 0%, 0 inquiries on TransUnion, I think.

 

Since they got married, I haven't logged into his credit reports.

 

Their British Airways accounts are still fair game, since I'm spending the $30k on each of their Visas.

[BobWang]

Both ESs gained one TU Vantage point in May

 

ES1:

2012-04-21 TransRisk 694, Auto 865, VantageScore 751 [C] (Citi $36 to $23 of $4k)

2012-05-02 TransRisk 699, Auto 865, VantageScore 752 [C] (6 inquiries)

 

ES2:

2012-04-25 CK TransRisk=740, Auto=843, Vantage=838 14% Utilization (10%, 14 accts, 2 inq, $1,321)

2012-05-02 CK TransRisk=740, Auto=843, Vantage=839 14% Utilization (10%, 14 accts, 2 inq, $1,321)

[BobWang]

ES2's Best Buy statement closed today with $0.00 balance, $0.00 across ALL cards, not yet reported

 

Credit Karma:

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C] 101% Utilization

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840 24% Utilization

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857 23% Utilization (11%, 14 accts, 1 inq, $1,637)

2012-04-21 CK TransRisk=745, Auto=857, Vantage=844 14% Utilization (10%, 14 accts, 1 inq, $1,321)

2012-04-25 CK TransRisk=740, Auto=843, Vantage=838 14% Utilization (10%, 14 accts, 2 inq, $1,321)

2012-05-02 CK TransRisk=740, Auto=843, Vantage=839 14% Utilization (10%, 14 accts, 2 inq, $1,321)

[BobWang]

ES2 PenFed Timeline

 

2012-03-30 Applied for PenFed membership as Active Duty

 

2012-03-31 Opening Share Deposit $10.00

2012-03-31 Opening Checking Deposit $50.00

2012-03-31 Also applied for Over Draft Protection (On his own)

 

2012-04-02 Applied for PenFed AmEx (My suggestion)

 

2012-04-06 AmEx Denied, $1k Visa counter-offer

2012-04-06 Awaiting Pay Stubs, DD is to NFCU, ES2 did not check status

 

2012-04-16 Faxed in Pay Stubs

 

2012-04-20 $1k Visa approved

2012-04-20 Spend $1,000 for 20,000 point bonus

 

2012-04-24 Visa shows up in list of accounts

2012-04-24 AutoPay for Full Statement Balance scheduled from PenFed Checking

 

2012-04-27 $1k Visa received, activated

2012-04-27 ACH trial deposits requested using BW Alliant Checking

2012-04-27 ACH external transfer requested for ES2 NFCU Active Duty Checking

 

2012-04-28 $300 charge

 

2012-04-29 $1 test payment from NFCU to PenFed Visa (Paper Check)

 

2012-04-30 $100 charge

2012-04-30 NFCU External ACH transfer code received, activated

 

2012-05-02 Test payment still not showing

2012-05-02 Schedule $1,000 ACH transfer Alliant to PenFed Checking

 

2012-05-02 Visa closes with $400 balance, > 40% utilization (12 days after approval)

 

2012-05-03 AACK!!!

 

2012-05-03 CANCEL AutoPay transfer of $400 Statement Balance from $50.00 Checking

[BobWang]

The irony is that I had paid off his Best Buy to $0.

 

That statement also closed yesterday.

[BobWang]

Credit Karma:

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C] 101% Utilization

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840 24% Utilization

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857 23% Utilization (11%, 14 accts, 1 inq, $1,637)

2012-04-21 CK TransRisk=745, Auto=857, Vantage=844 14% Utilization (10%, 14 accts, 1 inq, $1,321)

2012-04-25 CK TransRisk=740, Auto=843, Vantage=838 14% Utilization (10%, 14 accts, 2 inq, $1,321)

2012-05-02 CK TransRisk=740, Auto=843, Vantage=839 14% Utilization (10%, 14 accts, 2 inq, $1,321)

2012-05-04 CK TransRisk=740, Auto=843, Vantage=856 0.02% Utilization (0.02%, 14 accts, 2 inq, $2)

[BobWang]

ES1 got her first DCU FICO today, within 4 points of CS

 

2012-01-03 Credit Sesame Experian National Equivalency Score (NES) 669

2012-02-06 Credit Sesame Experian National Equivalency Score (NES) 725

2012-03-06 Credit Sesame Experian National Equivalency Score (NES) 761

2012-04-03 Credit Sesame Experian National Equivalency Score (NES) 756

2012-05-03 Credit Sesame Experian National Equivalency Score (NES) 757

 

2012-05-04 DCU Equifax04 753

[BobWang]

ES2 Credit Karma:

2011-11-02 CK TransRisk=719, Auto=825, Vantage=742 [C] 101% Utilization

2012-03-29 CK TransRisk=757, Auto=883, Vantage=840 24% Utilization

2012-04-16 CK TransRisk=757, Auto=883, Vantage=857 23% Utilization (11% overall, 14 accts, 1 inq, $1,637)

2012-04-21 CK TransRisk=745, Auto=857, Vantage=844 14% Utilization (10% overall, 14 accts, 1 inq, $1,321)

2012-04-25 CK TransRisk=740, Auto=843, Vantage=838 14% Utilization (10% overall, 14 accts, 2 inq, $1,321)

2012-05-02 CK TransRisk=740, Auto=843, Vantage=839 14% Utilization (10% overall, 14 accts, 2 inq, $1,321)

2012-05-04 CK TransRisk=740, Auto=843, Vantage=856 0.06% Utilization (0.01% overall, 14 accts, 2 inq, $2)

2012-05-05 CK TransRisk=740, Auto=843, Vantage=844 45% Utilization (3% overall, 15 accts, 2 inq, $448) (PenFed Visa)

[patz2009]

TransRisk is stupid. That's all.