What do I do now?

[Dess]

Ok, ready for a story?!

I am currently rebuilding credit. I think at my lowest point my score was a 520 something. I still cringe thinking about it. After paying off everything I could, and disputing until my fingers fell off I've managed to start builing my score up. My FICO are as follows Experian: 612 -- Exquifax: 635 -- Transunion: 661. I have 1 account that is in collections and not paid, When I called the company to pay it, I was told they don't hold the collections on it any longer, and I should contact the original company. The orig company says there is no record. Due to this information I've disputed the item and hopefully it will be off soon. Another baddie is a judgement added in October of 2012. - its now paid as well, but of course still reporting.

I have 4 cards, A credit one with a CL of 550, a First Premier with CL 300, A matrix with CL of 300 and my Local Credit union with a CL of 5000. All except the Credit union are paid down. I know I need to get the credit union down, which I'm working on.

I know the 3 other cards I have aren't good ones. When do I apply for other "regular" cards so that I can close these? And how else do I help my score to go up?

I have about 16 inquiries, and 12 of them will fall off by the end of this year (they've reached the 2 year limit) -- Is it time for me to just be patient for a year or so and let the score creep up on its own?

please feel free to ask questions if I've left out any details that would help! My goal is to be in the 700's, and I'm thinking I have a good 2 years to go before I get there --- does that sound right? I think I need a card that is a higher credit limit -- I have 3 Credit cards I've gotten since the purge (lol) -- I paid everything off and 6 months later decided to apply for credit. My first 2 cards were First Premier and Matrix Discover. Both of these were opened in April 2013 with a limit of 300.

In November of 2013 I opened a Credit One card and they gave me 400, in December I got an auto CLI of 150 and my limit is now 550.

I've never gotten an increase on First Premier - I requested one a couple of months back, and they said I didn't meet the criteria (being a member for a year) So I guess I'll try again in may.

As for Matrix, they changed from Discover to MasterCard. Still no Auto CLI, and I've never requested one. Should I ask?

CreditOne, hasn't given anything since that first one in December, definitely nothing in the "offers" section. Should I ask or Wait on that one too?

I just feel like having such low limits on them are hurting me, although the payment history is awesome because it definitely helps.

MyFico as of 3/25

TU - 661 EX - 612 EQ- 635

On the experian website (through USAA) as of 3/13

TU- 666 EX-583 EQ- 553

On Transunion site, my score is 620 as of today

On Exquifax site, My score is 622 as of today

[moosetracks]

 

Ok, ready for a story?!

I am currently rebuilding credit. I think at my lowest point my score was a 520 something. I still cringe thinking about it. After paying off everything I could, and disputing until my fingers fell off I've managed to start builing my score up. My FICO are as follows Experian: 612 -- Exquifax: 635 -- Transunion: 661. I have 1 account that is in collections and not paid, When I called the company to pay it, I was told they don't hold the collections on it any longer, and I should contact the original company. The orig company says there is no record. Due to this information I've disputed the item and hopefully it will be off soon. Another baddie is a judgement added in October of 2012. - its now paid as well, but of course still reporting. See about filing a motion to vacate on grounds that its been paid, if its granted its gone from your CRs.

I have 4 cards, A credit one with a CL of 550, a First Premier with CL 300, A matrix with CL of 300 and my Local Credit union with a CL of 5000. All except the Credit union are paid down. I know I need to get the credit union down, which I'm working on.

I know the 3 other cards I have aren't good ones. When do I apply for other "regular" cards so that I can close these? Once you get your revolving balances down, you want all but 1 card reporting 0 balances, on the one you let report you want 1-9% of its CL reporting, this would be the time to try for some better cards that match your spending habits.

And how else do I help my score to go up? Time, getting some baddies taken care of & keeping revolving balances low.

I have about 16 inquiries, and 12 of them will fall off by the end of this year (they've reached the 2 year limit) -- Is it time for me to just be patient for a year or so and let the score creep up on its own? Look into B* for TU & EQ, EX should just be kept on ice.

please feel free to ask questions if I've left out any details that would help! My goal is to be in the 700's, and I'm thinking I have a good 2 years to go before I get there --- does that sound right? Depends on how fast you can get your negatives worked out and how you approach revolving credit going fwd.

I think I need a card that is a higher credit limit -- I have 3 Credit cards I've gotten since the purge (lol) -- I paid everything off and 6 months later decided to apply for credit. My first 2 cards were First Premier and Matrix Discover. Both of these were opened in April 2013 with a limit of 300. LOL, everyone wants a higher limit but the key to good scores is what I have already said, you could do it with limits of 300 on ea card.....

In November of 2013 I opened a Credit One card and they gave me 400, in December I got an auto CLI of 150 and my limit is now 550. Once you pay down your CU card if this one has high fees I would get rid of it. If you dont already know the parent company of this bank is a JDB (Sherman Financiakl Group)..

I've never gotten an increase on First Premier - I requested one a couple of months back, and they said I didn't meet the criteria (being a member for a year) So I guess I'll try again in may. I wouldnt bother

As for Matrix, they changed from Discover to MasterCard. Still no Auto CLI, and I've never requested one. Should I ask? IMO No

CreditOne, hasn't given anything since that first one in December, definitely nothing in the "offers" section. Should I ask or Wait on that one too? Already spoke about this card.

I just feel like having such low limits on them are hurting me, although the payment history is awesome because it definitely helps. Low limits are not hurting you at this point. If I were you I would start looking for some national CUs to join, NFCU if you can qualify, DCU, and a few others.

MyFico as of 3/25

TU - 661 EX - 612 EQ- 635

On the experian website (through USAA) as of 3/13

TU- 666 EX-583 EQ- 553

On Transunion site, my score is 620 as of today

On Exquifax site, My score is 622 as of today

 

 

Good luck in your journey and welcome to the board

[Dess]

Good luck in your journey and welcome to the board

 

 

Thank you SO much for the valuable info! I'm definitely going to sit tight for the remainder of the year. Nothing is left on my credit report, well the ones that were in collections, but they all say paid, Should I request them to be removed? I've always thought when they were paid, there was nothing more that could be done. I'll just pay off the larger credit union card, and leave the other's at zero. It makes the most sense.