BoostMyScore Repair Launch

[FixnCred]

You need the DallasLoanGuy or Brian from mortgage to really offer sound advice since mortgage is the goal.

 

Have you started a thread over there? I haven't looked yet. I would love to see you get into a better situation on the mortgage.

[BoostMyScore]

I did start a thread in mortgage...

 

https://creditboards.com/forums/index.php?showtopic=555575

[BoostMyScore]

If the mortgage is 7/8 months away then adding positive tradelines needs to happen ASAP. It will only help your case. You need a higher score for the mortgage.

Well I think CAP1 one is out of the question given my CO list. So I need a CC that is not CAP1 that has a good chance of getting approved with a 608 [EQ] FICO score.

Edited December 20, 2015 by BoostMyScore

[FixnCred]

Yeah... I am thinking secured card somewhere that you can grow.

 

BOA might be an option... But the growth there is slow IMO. You need a CU that can also refi the house in 7/8 months.

 

I am going to look at a few sites for you and see what suggestions I have. Also, I will check out your other thread.

 

My gut says you need to make some moves now. Just got to figure out what that move is.

[FixnCred]

I did start a thread in mortgage...

 

https://creditboards.com/forums/index.php?showtopic=555575

Duh... I posted in it. Sorry... I have been extremely busy with work and also trying to keep up here. I see the advice there from Brian about waiting 12 months. I think you can do it within 7/8 months with some aggressive positive tradelines. The key is to unlock that $75K in equity which will change your life.

 

One problem may be your cashflow / liquidity. You need some extra cashflow to invest into your credit rebuild.

[FixnCred]

 

If the mortgage is 7/8 months away then adding positive tradelines needs to happen ASAP. It will only help your case. You need a higher score for the mortgage.

Well I think CAP1 one is out of the question given my CO list. So I need a CC that is not CAP1 that has a good chance of getting approved with a 608 [EQ] FICO score.

Yeah I am not a fan of their Credit Steps. Secured cards from a bank is so much better because they have other products you may need and can appreciate your business much more.

 

It may be your last option as plenty of people get back in with them after COs and BKs.

 

And I never thought I'd say this again in my life..... But maybe some SCT cards are in order here.

 

Here is why I feel this way.

 

1. No HP required.

2. You already have 80+ HPs

3. You need 3 positive revolvers. Preferably major CCs but store will have to do for now.

4. You can do this now while you are waiting on your disputes.

 

You should only get SCT on what you would use.

 

Probably limit yourself to 2 SCT cards. For instance, Overstock and Marathon gas. Two cards that can be uses for everyday and household items without incurring an HP.

 

I am still looking for you on other options.

[josephina]

Re NFCU charge off. I recommend doing a settlement in full if you possibly can to get the balance to report as $0; the Remarks will say Paid in Full for less than full balance. In my limited experience (I did this with cap one) my score went up about 20 points.

Also pay all cc's in full before statement closing date (although leaving a $2 balance on one card only can help a bit more).

For store card you might consider j crew via the sct. After three months you can get multi auto CL increases each month via the luv button. And don't get more than two store cards.

[FixnCred]

The CO is there and it's not worth it based on the CO amount.

 

No to J.CREW it will be a dust collecting card. He can't waste new accounts and AAOA on cards that he won't use or risk being denied in a more important card due to having a new account recently opened.

[BoostMyScore]

2. You already have 80+ HPs

 

Is this saying that I have 80+ hard pulls?

 

Not sure on what store cards to apply for, if any....

Edited December 20, 2015 by BoostMyScore

[FixnCred]

Didn't you say you had 80 HP?

[BoostMyScore]

Didn't you say you had 80 HP?

 

Nope.

 

Experian - 2

Equifax -1

Transunion - 3

 

Is it worth the HP for joining a credit union? Found one in my area.

 

https://www.coastal24.com/

Edited December 20, 2015 by BoostMyScore

[BoostMyScore]

So technically I could join Coastal Federal Credit Union and apply for their Cash Back Visa. I would definitely use either a Home Depot or Lowes card. With either option, I think my chances of approval right now are slim and none.

[BoostMyScore]

I was thinking Citi CC may be a good choice to apply for in the future since I haven't really burned them in the past.

[FixnCred]

Anything new on your disputes?

[BoostMyScore]

Anything new on your disputes?

Not really. The only dispute I sent off so far was for the SYNCB/WALMART to the 3 CRAs. Given the time of the year, I assume it will take longer for them to even get it.More than likely it will just come back with the AUTO-VALIDATED crap they often do.

Edited December 22, 2015 by BoostMyScore

[josephina]

Here are my recs based on my limited experience, others may not agree and I'm sure they will speak up.

 

1. STORE CARDS: You should get one or two store cards using the SCT. I'm not sure which cards work with that trick besides the J Crew that I got. I never shop there (other than occasional buy and return), but it helped my score. There would be no hard pull and you would be auto-approved.

 

2. SECURED CC: I didn't see mention of why you don't qualify for SDFCU membership .... Is it because your CR was frozen, could you unfreeze it? Another secured card to consider is the Capital One Open Sky. I know it's not the best but neither is it the worst. You can get up to 3K by putting up the money and there is no hard pull. Maybe someone has a better suggestion, or there may be a thread about secured cards.

 

3. NFCU: I am sorry to hear that it seems that your best bet is to sell then move to apartment then buy smaller house. It is too bad that you have to move twice, but you need capital to improve your score most quickly. I still think you should do one of the settlements with NFCU (and then pay off the settled amount in full when you sell your house). My reasoning is (1) NFCU is offering it now, in the future they may not give you the option; (2) it is pulling down your score, for one thing because the 15K balance counts against your credit utilization; (3) with your lower score your chance of getting a mortgage is reduced; (4) when you do get a mortgage the lender will likely require you to pay it off, you could have done the settlement earlier, and qualified for a mortgage earlier, and NFCU might not be willing to settle, they might want payment in full at that time; (5) they could come after you and get a judgement. (By way of my experience I had a charge-off from Cap1 that was showing a balance, once I did a settlement and got the balance down to $0, it was still a "negative" but not nearly as negative as before settlement.)

 

4. SYNC/WALMART: Same opinion on the Sync, except they haven't offered you a settlement, so I don't know if it's wise to contact them before SOL. You could also try disputing with the CRA's (I have two SYNC's and have had no luck with removal).

 

5. COASTAL: Have you talked to Coastal Credit Union about the criteria for their cc and/or mortgage? If not and/or if you don't stand a chance, I don't see the point of joining. Maybe it would have a long term benefit though.

 

6. HOME SALE: Lastly I think you should sell sooner rather than later; the spring market is coming right up. This will allow you to implement the credit actions that require capital (secured cc's and settlements of CO.'s.)

[BoostMyScore]

Here are my recs based on my limited experience, others may not agree and I'm sure they will speak up.

 

1. STORE CARDS: You should get one or two store cards using the SCT. I'm not sure which cards work with that trick besides the J Crew that I got. I never shop there (other than occasional buy and return), but it helped my score. There would be no hard pull and you would be auto-approved.

 

2. SECURED CC: I didn't see mention of why you don't qualify for SDFCU membership .... Is it because your CR was frozen, could you unfreeze it? Another secured card to consider is the Capital One Open Sky. I know it's not the best but neither is it the worst. You can get up to 3K by putting up the money and there is no hard pull. Maybe someone has a better suggestion, or there may be a thread about secured cards.

 

3. NFCU: I am sorry to hear that it seems that your best bet is to sell then move to apartment then buy smaller house. It is too bad that you have to move twice, but you need capital to improve your score most quickly. I still think you should do one of the settlements with NFCU (and then pay off the settled amount in full when you sell your house). My reasoning is (1) NFCU is offering it now, in the future they may not give you the option; (2) it is pulling down your score, for one thing because the 15K balance counts against your credit utilization; (3) with your lower score your chance of getting a mortgage is reduced; (4) when you do get a mortgage the lender will likely require you to pay it off, you could have done the settlement earlier, and qualified for a mortgage earlier, and NFCU might not be willing to settle, they might want payment in full at that time; (5) they could come after you and get a judgement. (By way of my experience I had a charge-off from Cap1 that was showing a balance, once I did a settlement and got the balance down to $0, it was still a "negative" but not nearly as negative as before settlement.)

 

4. SYNC/WALMART: Same opinion on the Sync, except they haven't offered you a settlement, so I don't know if it's wise to contact them before SOL. You could also try disputing with the CRA's (I have two SYNC's and have had no luck with removal).

 

5. COASTAL: Have you talked to Coastal Credit Union about the criteria for their cc and/or mortgage? If not and/or if you don't stand a chance, I don't see the point of joining. Maybe it would have a long term benefit though.

 

6. HOME SALE: Lastly I think you should sell sooner rather than later; the spring market is coming right up. This will allow you to implement the credit actions that require capital (secured cc's and settlements of CO.'s.)

#1 SCT?

 

#2 Still considering secure cards

 

#3

 

#4 The SYNCB/WALMART is 1+ years past SOL (when I got the card it was originally issued by GE)

 

#5 Planning on calling Coastal

 

#6 Planning on having the home on the market by March

[Fire Courage]

I'm loving this thread. Good info here.

[BoostMyScore]

Still not sure what SCT is.

[Fire Courage]

Still not sure what SCT is.

That is the shopping cart trick

[BoostMyScore]

 

Still not sure what SCT is.

That is the shopping cart trick

 

Seems a little shady

[Fire Courage]

 

 

Still not sure what SCT is.

That is the shopping cart trick

 

Seems a little shady

 

I believe it only works with Comenity cards. It happens when you are shopping on their website and adding items to your cart but when you enter your information and about to check out, you get a pop-up saying you are pre-approved. They called that the shopping cart trick. It worked for me about 8 months ago on a Pier One and Victoria Secret card.

 

Its a soft pull.

Edited December 22, 2015 by Fire Courage

[josephina]

You do not have to buy what is in your shopping cart. I think the offer comes up after you enter your cc pay info, but before you push the final button. You accept the credit card offer but do not complete the purchase.

[josephina]

Your state must have one heck of a short SOL. BTW what state is it?

[josephina]

One other idea, do you have a 401k that you could borrow from or a Roth (you can w/d your own contributions penalty and tax free)?