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powers64

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About powers64

  • Birthday August 1

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    CO

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  1. I just came to do a little happy dance. I have been a member of this board for over 10 years. I have struggled a lot. I made some progress, got some cards, then had some medical issues in 2011 and everything collapsed. Back at it. About 3 years ago, i started really working at it again, but all of the 2011 issues were still haunting me. Finally this year, i made a bunch of progress.I still had only secured cards until a couple months ago when i finally got a Citi AA card with a $8400 limit - the largest card limit i have had in decades. This week, 2 of my last baddies dropped off and voila! HUGE score jump. I am so excited! Thanks to everyone over the years that has helped. This board has been a constant source of support!
  2. powers64

    Chases 5/25 rule & unsecuring DCU or US bank cards

    Thanks for the reply! Thank you! It is pretty exciting for me! It took a long time to get here.
  3. 3 years ago, I applied for 2 secured cards and a Cabelas which has a low limit. My scores are now in the 700's and I am getting great cards with high limits, so I am not sure what to do with my older cards. I need to keep them for age. Should i leave them be or try to get higher limits or try to get them unsecured so i can get my deposits back? Of note: i would like to apply for a couple additional Chase cards in the next year or two and don't want to do anything that will contribute to my 5/24 Here are the cards and dates: US Bank Secured: $500 opened 1/15. my understanding is they will generally unsecure, release the funds and i keep the same account. does that mean there will be no impact on my age or 5/24? DCU Secured: $5,000 opened 2/15. My understanding is that they do not unsecure. I would just have to apply for a new card. I want to keep this open for the age, but likely won't use it much. Does it hurt to take out 4,000 and just leave it with $1K limit? Cabelas: $750. Now owned by CapOne. I am inclined to just sock drawer this one. If i ask for a higher limit does that hurt my 5/24? It is only new accounts that hurt, right? Citi American Airlines: $8,400 Chase Sapphire Preferred $12,500 Thanks for any suggestions! Powers
  4. powers64

    Need Advice: Which card next?

    Thanks! Here is how I have spent on my 4 cards throughout this year: Food & Dining: 30% Shopping: 18% Personal Care: 12% Home: 9% Travel 8% Gifts & Donations: 5% Taxes: 4% Entertainment: 3% Health & Fitness: 2% Auto: 2% Pets 2% And...now i can see where i really need to start budgeting! The total i put on my cards since the beginning of the year is 30K.
  5. powers64

    Need Advice: Which card next?

    HI! I am still rebuilding and finally crossed the 700 mark with EX, but would like to get another boost. Next week, I am closing on a new condo, and i think, initially, my scores might drop slightly, so I would like to apply for one or two cards soon. Here is my situation: Scores: EX: 751 TU 681 EQ: 671 Factors: Short credit history (8 years) and Installment balance: the remaining balance on my mortgage is too high. ( i have had my current condo for 2 years) Other report issues: My EX is clear, TU has 2 collections and EQ has 3 collections. Two of the collections are about to be deleted from both TU and EQ, so those will soon be clear too. Current cards & limits. I PIF each month: - DCU Secured: $5,000 limit. - US Bank Secured $500 - Cabelas: $850.00 - American Airlines: $8500.00. This one is a month old and the first one i have gotten unsecured with a high balance. I plan to contact US bank and ask them to unsecure and raise the limit. I don't think DCU will unsecure and let me keep my limit/history and i don't want to risk shortening my credit history. Am i correct about that? Here are the cards I am interested in. I think they all pull EX. I am open to other ideas too. - Chase United: I fly mostly united. - Chase Sapphire: this seems to be the best card for travel rewards - Nordstrom: i used to work for them and will shop a lot with them. Any recommendations or ideas? Once my new mortgage reports, i will have 2 relatively new mortgages, so short of paying one down, i assume the new mortgage might drop my score too. Thanks for the help!
  6. powers64

    DCU Credit Reporting

    They did. I normally pay it off and leave a few dollars so they will report, but last month i didn’t pay it before the 31st, so the usability on it is 62%. i only have 3 cards. The limit on my DCU is 5k, then I have cabelas $750 and us bank $500, so having $3500 report on my DCU is hurting me. my EX score is finally (this month) over 700 even with the high usability, but I’ve been watching it every day hoping the DCU will report and help me out.
  7. powers64

    DCU Credit Reporting

    Does anyone else have issues with DCU reporting their balance regularly? My utilization last month was high, so i made sure to pay it off before the 1st of the month when they report. I left a $15 balance to make sure it reported, but there is still no new balance reporting on my EX report. Any suggestions on what I can do (if anything). Anyone else have any experience with how they report? I am applying for a new mortgage and would really like my utilization back down under 10%.
  8. powers64

    Nordstrom visa

    This ^^ If you shop with them regularly, the points are nice and the triple points really add up. The other two benefits that are nice if you use them is that you get a minimum $100 toward alterations and you can shop a week early at their big Anniversary sale. Both are great if you are a big shopper and/or regularly need alterations. I believe, they just changed the policy so they will alter non-Nordstrom clothes now too.
  9. powers64

    My Early Mortgage Repayment Thread

    Lmao! I spent all weekend watching YouTube videos on how to accelerate mortgage payments so I may be off the deep end! thanks Forbes the response. I will give them a call tomorrow. My preference is to leave the ACH on. I’ve worked hard to get my finances clear. My reports are, at long last, nearly 100% clear, so I sleep better at night with everything automated so I can’t accidentally forget and mess it up. do you want this thread to track your own progress or do you want it to become an ‘early payment superthread’?
  10. powers64

    I am new and need advice

    Hi. If you can get another secured account or two, yes, you should do that. You generally want 3-5 accounts in good standing and it is good to have a few different kinds. I would make it s goal to get at least 2 more. Be careful. There are a few good ‘superthreads’ around here that will list all the available secured cards out there and will let you know which ones will eventually let you graduate to an unsecured, which ones have low/no annual fee etc.take your time. When it comes to adding new accounts quality is more important than quantity so don’t apply for any cards from shady sub-prime companies. As for the letters, i recommend taking the time to read the PsychDoc transcripts. he will walk you through the various types of items on your resort and the techniques for getting rid of them (1-2 punch, FOAD, etc). Then you will be able to formulate a smarter plan and know just what type of letter you need.
  11. powers64

    Nordstrom visa

    I used to work for Nordstrom and there are people that have both the store card and he Visa, but my impression is that is very rare since Nordstrom sold off their card division. As Centex mentioned, it seems counterproductive since the points/rewards would accrue on separate accounts.
  12. powers64

    My Early Mortgage Repayment Thread

    Great post & congratulations on the progress so far. I’m just kicking off an effort this month to accelerate paying off my mortgage too. One quick question: are you just adding tracking the extra, then paying it along with your regular payment or are sending in interim principal payments? i have my payments on an auto-ach plan and they won’t let me make an extra interim ACH transfer.
  13. if you do want to see a good discussion of letting cards charge off, then settle, https://creditboards.com/forums/index.php?showtopic=383818
  14. I read through the posts here and the ones on MF. If you genuinely want some help digging out of your situation, there are a lot of great, kind people here who will help you work through the details of your finances (monthly income/expenses and minimum payments). I would be happy to do so. My concern is that is seems as though you are only really looking for someone to endorse your plan of defaulting now, and negotiating later. You will notice that not a single responder on either board has told you that is a good idea. Why? Because it is a terrible, terrible idea and this board is filled with people who have found themselves in default and suffered years and years of stress. It is not worth it. There are so many things wrong with the article posted by James Altucher I don't even know where to begin, but i can say this, he is wrong. On all counts. Please note as he admits in the article: he has never had a credit card. So you can choose who's advice you want to take: someone who has never been down this path or those of us who have. The people that have been down this path are all trying to guide you toward a path of taking responsibility and digging out. I know you must be panicked and hearing a solution that promises short-term relief must sound really good. Please don't fall for it. Ditch that plan and let us help you.
  15. powers64

    6 Month Credit Repair Goal - All Help Welcome

    Looks good! Your 60 day timeframe looks reasonable. The only other recommendation for that timeframe, depending on what other types of collections you have, is to opt-out of marketing at www.optoutprescreen.com

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