Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Credit One Bank - How bad is it really?

Recommended Posts

So I have a Credit One card and recently got a CLI bump on it so I'm up to $550, but after reading some posts here, I'm hearing that it looks bad to have it. I don't necessarily need it because I have a Cap 1 Platimun ($850), a Wells Fargo ($600 secured) &, a Discover IT ($500 secured). 

 

The Credit One is the youngest of all the cards, only a year old. I had another credit one card about a decade ago that charged off and a weird thing happened. After months of paying on time with this new card, the old account reports as closed, but with 2 years of all positive payment history. I'm grateful for that... don't know how it happened, but cool.

 

So I got this new card just to boost my overall credit, but now I'm thinking that was a mistake(except for the change in reporting of the older account).

 

I understand that when I close it, it will remain a "stain" on my account for 10 years. Is it that big of a deal, though? Can somebody give me some examples of how having it there can affect my credit... score, chances of approval for credit, credit limits... etc.?

 

Will closing the account make much difference in the short term since it will still be a stain?

Edited by StellarCredit
incomplete title

Share this post


Link to post
Share on other sites

Having a Credit One TL on your reports is like having a neck tattoo.  

 

No one says publicly, "We won't hire or promote people with neck tattoos," yet I assure you that a neck tattoo is going to be a career impediment in a lot of lucrative fields.

 

A Credit One card tells a human analyst, "My reports my be clean now, but I was an absolute mess a few years ago."

Share this post


Link to post
Share on other sites
So I have a Credit One card and recently got a CLI bump on it so I'm up to $550, but after reading some posts here, I'm hearing that it looks bad to have it. I don't necessarily need it because I have a Cap 1 Platimun ($850), a Wells Fargo ($600 secured) &, a Discover IT ($500 secured). 
 
The Credit One is the youngest of all the cards, only a year old. I had another credit one card about a decade ago that charged off and a weird thing happened. After months of paying on time with this new card, the old account reports as closed, but with 2 years of all positive payment history. I'm grateful for that... don't know how it happened, but cool.
 
So I got this new card just to boost my overall credit, but now I'm thinking that was a mistake(except for the change in reporting of the older account).
 
I understand that when I close it, it will remain a "stain" on my account for 10 years. Is it that big of a deal, though? Can somebody give me some examples of how having it there can affect my credit... score, chances of approval for credit, credit limits... etc.?
 
Will closing the account make much difference in the short term since it will still be a stain?
Keep the credit one card for now. You need it for credit utilization. Get rid of all of your subprime cards on your next leg up. I haven't seen evidence that proves subprime cards listed on your credit reports effect approval algorithms one way or another. You've got enough cards for now. Work on CLI's and consider getting an installment loan and find a friend/family member that will make you an AU on a card with a long history credit history and high limit. Assuming your FICO's are in the 700's, try to get into navyfed. I've seen people recently get approved for 20k+ with a young history and cards like yours. These people did have at least one installment loan, 3 cc's and FICO's above 700. You are doing well. Think positive and be grateful for what you have accomplished.

Sent from my SM-N950U using Tapatalk

Share this post


Link to post
Share on other sites
4 hours ago, nyquil556 said:

Keep the credit one card for now. You need it for credit utilization. Get rid of all of your subprime cards on your next leg up. I haven't seen evidence that proves subprime cards listed on your credit reports effect approval algorithms one way or another. You've got enough cards for now. Work on CLI's and consider getting an installment loan and find a friend/family member that will make you an AU on a card with a long history credit history and high limit. Assuming your FICO's are in the 700's, try to get into navyfed. I've seen people recently get approved for 20k+ with a young history and cards like yours. These people did have at least one installment loan, 3 cc's and FICO's above 700. You are doing well. Think positive and be grateful for what you have accomplished.

Sent from my SM-N950U using Tapatalk
 

I'm at about 72% credit utilization right now. I actually have 2 installment loans, one with LendUp for $600 (paid down to about $400). The other with LoanMe for $6600, after several months paid down to $6400 (80% interest 🙃). I have an account with LAHFCU. I was denied a loan once with them due to my experian report not looking so pretty. I hope to try again to get a better loan to get rid of the LoanMe loan... I thought I would have been able to pay that one down by now.

 

My scores are EX: 613, EQ: 642, TU: 667

 

I've asked around but no one I've asked has had a credit card long in good standing with a good limit. Looks like I may end up being that guy first.

 

So, I think what I should be doing is getting my card balances to zero except for the one. I have a couple negatives I still need to challenge. I think that should get me into the 700 club... then I'll apply for navyfed and a couple other decent cards... at which point, i'll get the neck tattoo removed.

Share this post


Link to post
Share on other sites
13 hours ago, cv91915 said:

Having a Credit One TL on your reports is like having a neck tattoo.  

 

No one says publicly, "We won't hire or promote people with neck tattoos," yet I assure you that a neck tattoo is going to be a career impediment in a lot of lucrative fields.

 

A Credit One card tells a human analyst, "My reports my be clean now, but I was an absolute mess a few years ago."

+Infinity

 

Credit One is the skid marks on credit underwear.

Share this post


Link to post
Share on other sites
17 hours ago, StellarCredit said:

So I have a Credit One card and recently got a CLI bump on it so I'm up to $550, but after reading some posts here, I'm hearing that it looks bad to have it. I don't necessarily need it because I have a Cap 1 Platimun ($850), a Wells Fargo ($600 secured) &, a Discover IT ($500 secured). 

 

The Credit One is the youngest of all the cards, only a year old. I had another credit one card about a decade ago that charged off and a weird thing happened. After months of paying on time with this new card, the old account reports as closed, but with 2 years of all positive payment history. I'm grateful for that... don't know how it happened, but cool.

 

So I got this new card just to boost my overall credit, but now I'm thinking that was a mistake(except for the change in reporting of the older account).

 

I understand that when I close it, it will remain a "stain" on my account for 10 years. Is it that big of a deal, though? Can somebody give me some examples of how having it there can affect my credit... score, chances of approval for credit, credit limits... etc.?

 

Will closing the account make much difference in the short term since it will still be a stain?

Hi, had to start rebuilding my credit. As like you I applied for a credit one credit card and also like you seen all these bad reviews and my first thought was to cancel as well. If you close your account it will look bad on your credit, just keep it. Now I’ve had my credit one card for two years now and I have no problems with them in fact I have two credit cards with them and both are over $1000 dollars. They are generous with give you increases  you some you have to pay and others you don’t (if you are trying get increase your score it’s not a bad idea to pay the little money to increase it). In my opinion it’s not a bad card to have, it’s worked in my favor and if nothing else don’t ever use it. I hope this helps you.

Share this post


Link to post
Share on other sites

Compared to the LoanMe, 80% interest rate loan the Credit One card is a gem.

 

Stop worrying about credit cards and whether Credit One is good or not and focus, focus, focus on getting the LoanMe paid off as soon as possible. You are literally burning money on that puppy. And don't sign up for any credit cards that have a monthly or annual fee.

 

Please list all your CC balances and credit limits. The utilization percentage you quoted seems low given the high installment balances.

Share this post


Link to post
Share on other sites
3 hours ago, cashnocredit said:

Compared to the LoanMe, 80% interest rate loan the Credit One card is a gem.

 

Stop worrying about credit cards and whether Credit One is good or not and focus, focus, focus on getting the LoanMe paid off as soon as possible. You are literally burning money on that puppy. And don't sign up for any credit cards that have a monthly or annual fee.

 

Please list all your CC balances and credit limits. The utilization percentage you quoted seems low given the high installment balances.

Disco (500) - bal: 446.40   
Cap 1 (850) - bal: 831.48   
Wells (600) - bal: 0.00     
Cred1 (550) - bal: 542.40   

 

I wasn't including the installment loans. & yeah, I'm hemorrhaging money every month with that loan 😬

Share this post


Link to post
Share on other sites

Why are all your low limit rebuilder cards already maxed out on top of crazy payday type loans? 

 

IMO you need to stop worrying about anything credit related and focus 100% on financial management. Nothing matters until you can get your spending under control.

 

Or figure out how to make more money, but that's usually a short term fix as your expenses will rise to meet the new income if you don't have it under control first. 

Share this post


Link to post
Share on other sites
17 hours ago, Corie said:

Hi, had to start rebuilding my credit. As like you I applied for a credit one credit card and also like you seen all these bad reviews and my first thought was to cancel as well. If you close your account it will look bad on your credit, just keep it. Now I’ve had my credit one card for two years now and I have no problems with them in fact I have two credit cards with them and both are over $1000 dollars. They are generous with give you increases  you some you have to pay and others you don’t (if you are trying get increase your score it’s not a bad idea to pay the little money to increase it). In my opinion it’s not a bad card to have, it’s worked in my favor and if nothing else don’t ever use it. I hope this helps you.

If I saw someone had opened a CreditOne TL and then closed it rather quickly, I would smile and think to myself, "aha; learning has occurred..."

 

Share this post


Link to post
Share on other sites
13 hours ago, StellarCredit said:

Disco (500) - bal: 446.40   
Cap 1 (850) - bal: 831.48   
Wells (600) - bal: 0.00     
Cred1 (550) - bal: 542.40   

 

I wasn't including the installment loans. & yeah, I'm hemorrhaging money every month with that loan 😬

I'm not a fan of DR but if there's anyone who could use a bit of that philosophy right now....

Share this post


Link to post
Share on other sites
On 9/24/2018 at 3:30 PM, IndyPoolPlayer said:

I'm not a fan of DR but if there's anyone who could use a bit of that philosophy right now....

Not a total fan either, but I probably could use some of his strategy for getting out of debt.... but the way things have popped up in my life and with my goals, I find sometimes I have to juggle and make some short term choices that may not be ideal. Anyway, whatever my finances look like, I still have to do my best to work on my credit. In renting an apartment or whatever and there's a minimum credit score, having a strict budget and a little emergency fund isn't going to help me if I don't have a qualifying score. I have to work on both concurrently.

Share this post


Link to post
Share on other sites

Credit One is the master of turning a small balance into a big one in short order. Their fees never end, and they have been known to intentionally post payments late so they can whack you that $35 late fee. I had one of their cards a long time ago; I made two small purchases with it, both around $20 each. Within a year that balance went to $900. 

Share this post


Link to post
Share on other sites
Not a total fan either, but I probably could use some of his strategy for getting out of debt.... but the way things have popped up in my life and with my goals, I find sometimes I have to juggle and make some short term choices that may not be ideal. Anyway, whatever my finances look like, I still have to do my best to work on my credit. In renting an apartment or whatever and there's a minimum credit score, having a strict budget and a little emergency fund isn't going to help me if I don't have a qualifying score. I have to work on both concurrently.
Stay positive Stellarcredit. We are not here to judge and keep grinding. Be aggressive with repairing your credit.

Sent from my SM-N950U using Tapatalk

Share this post


Link to post
Share on other sites
10 hours ago, StellarCredit said:

Not a total fan either, but I probably could use some of his strategy for getting out of debt.... but the way things have popped up in my life and with my goals, I find sometimes I have to juggle and make some short term choices that may not be ideal. Anyway, whatever my finances look like, I still have to do my best to work on my credit. In renting an apartment or whatever and there's a minimum credit score, having a strict budget and a little emergency fund isn't going to help me if I don't have a qualifying score. I have to work on both concurrently.

Speaking as a landlord, we do not look at minimum credit scores. We look for people that have skipped out on paying rent previously. Lots of people have crappy credit but pay their rent. Generally before they pay loans.

 

In any case you need to work on paying down your balances. More credit like credit cards is a waste of resources and the only thing you would be able to get at this point is going to be expensive. You might first concentrate on paying and closing the Credit One card since it's a money suck but it doesn't matter a whit re how your credit reports look. The big negatives are high overall util and near full balance on your payday APR loan. That's what's going to make creditors turn away.

Share this post


Link to post
Share on other sites

This is coming from the heart and my honest experience.

Don’t read the boards approvals threads - subprime bashes etc just the budget threads until you get things cleaned up.

Three years ago I was underwater and I would want more credit and better cards but was 95% utilization and horrible loans.

I didn’t want a hard work fix just an Over night solution (Cli’s or lotto- ha!)

However two years ago I got serious and I am now at just under 15% and it’s at zero % interest ... then last week increased avail credit by 52%.

These boards make it easy to lose your focus - high credit limits, easy approvals - because they are at a different stage ... stay focused and don’t give up.

But for heavens sakes no more loans. That’s how I got it cleaned up - cold turkey.

Good luck


Sent from my iPhone using Tapatalk

Share this post


Link to post
Share on other sites
On 9/26/2018 at 3:46 PM, LuvingMomof5boys said:

This is coming from the heart and my honest experience.

Don’t read the boards approvals threads - subprime bashes etc just the budget threads until you get things cleaned up.

Three years ago I was underwater and I would want more credit and better cards but was 95% utilization and horrible loans.

I didn’t want a hard work fix just an Over night solution (Cli’s or lotto- ha!)

However two years ago I got serious and I am now at just under 15% and it’s at zero % interest ... then last week increased avail credit by 52%.

These boards make it easy to lose your focus - high credit limits, easy approvals - because they are at a different stage ... stay focused and don’t give up.

But for heavens sakes no more loans. That’s how I got it cleaned up - cold turkey.

Good luck emoji256.pngemoji1360.png


Sent from my iPhone using Tapatalk

Congrats on your progress! And thanks for the advice. I do tend to read about the approvals and sky high limits =]. But I'm getting a lot of good common sense feedback here. I haven't even looked at the budget threads. I think I will dive into that info tonight.

Share this post


Link to post
Share on other sites
Congrats on your progress! And thanks for the advice. I do tend to read about the approvals and sky high limits =]. But I'm getting a lot of good common sense feedback here. I haven't even looked at the budget threads. I think I will dive into that info tonight.



I honestly wasn’t trying to be harsh - but I could have wrote your post.

Best of luck ... it was a very hard road but omg so rewarding

I sat down and calculated every penny of interest I paid over at first one year, then two and finally five years ... plus fees from all avenues including banking - I threw up literally. And not to be gross but violently..

When you pay $2 on this card, $5 here it doesn’t see so bad to carry a balance but total it up and add it up over a few years and then think about how you could have paid yourself ...


🤮🤢🤬

Best wishes - on your very rewarding but hard journey!!


Sent from my iPhone using Tapatalk

Share this post


Link to post
Share on other sites

So my credit profile has changed. The bad loan is gone. New cards. Higher limits. But Credit One is still there. I'm holding on to it basically because it's helping my AAOC or at least that's what I thought. But if it's really seen as credit herpes (as I just read in another thread) and is hurting my chances of getting some action with creditors... I'm reading that I should dump it. But it will still be on my report. So, even if it's closed, for what...10 years, I'll still have undesirable credit????

Share this post


Link to post
Share on other sites
On 9/27/2018 at 5:15 PM, LuvingMomof5boys said:

 

 


I honestly wasn’t trying to be harsh - but I could have wrote your post.

Best of luck ... it was a very hard road but omg so rewarding

I sat down and calculated every penny of interest I paid over at first one year, then two and finally five years ... plus fees from all avenues including banking - I threw up literally. And not to be gross but violently..

When you pay $2 on this card, $5 here it doesn’t see so bad to carry a balance but total it up and add it up over a few years and then think about how you could have paid yourself ...


emoji849.pngemoji855.png🤮🤢🤬

Best wishes - on your very rewarding but hard journey!!


Sent from my iPhone using Tapatalk

 

 

And Happy Birthday!!!

Share this post


Link to post
Share on other sites
15 hours ago, StellarCredit said:

So my credit profile has changed. The bad loan is gone. New cards. Higher limits. But Credit One is still there. I'm holding on to it basically because it's helping my AAOC or at least that's what I thought. But if it's really seen as credit herpes (as I just read in another thread) and is hurting my chances of getting some action with creditors... I'm reading that I should dump it. But it will still be on my report. So, even if it's closed, for what...10 years, I'll still have undesirable credit????

It's costing you money. Overpay it to cover trailing interest and get rid of it.

Share this post


Link to post
Share on other sites
On ‎9‎/‎27‎/‎2018 at 5:15 PM, LuvingMomof5boys said:


I sat down and calculated every penny of interest I paid over at first one year, then two and finally five years ... plus fees from all avenues including banking

 

 

 

 

Awesome. If only more people did that. It can be painful, but so rewarding.

Share this post


Link to post
Share on other sites
On 9/24/2018 at 4:38 AM, StellarCredit said:

Disco (500) - bal: 446.40   
Cap 1 (850) - bal: 831.48   
Wells (600) - bal: 0.00     
Cred1 (550) - bal: 542.40   

 

I wasn't including the installment loans. & yeah, I'm hemorrhaging money every month with that loan 😬

Your utilization is killing your scores.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Similar Content

    • By ON-MY_way
      I had a NFCU cc of $25,xxx (25k) charged off in Dec. 2018.   During my small business startup and struggles I tried my best to stay afloat.  I managed to keep my  NFCU auto loan ($31k, balance $5,000, never miss/late payment) and NFCU cc ( $3000 never miss/late payment) current.  
       
      My Equifax lists:
      12/2018 Charged off account
      Date of Last Payment Aug 01, 2020 (I made NO PAYMENTS or arrangements since CO.  I keep little money (under $100 in my checking savings.  Low and behold In August 2020 I see a 'DR Adjustment' of $1000 from my checking.  After investigating I learned that a commercial account deposit I had in 2016 was credited back to me and the acct they had on file was NFCU and they snatched the grand and sent me a letter 'thanking me' for my payment of $1000.  
      My state is NC, does this now effect my SOL?   Is this legal for NFCU to take money from your checking account and update the CRA as you've made a payment when I did not initiate it?
       
      After this eye-opening moment, I did some research and it's my guess that NFCU loan terms have 'cross-collateralization' verbiage.  
      When my NFCU auto loan is paid in full, will they send me the title or 'hold' it until the CO is paid off or settled for agreed amount?  If I settle at a percentage of CO before auto loan is paid, will I get the title once auto loan is zero balance?
       
      I reached out to NFCU collections and got an offer to settle the co acct for $4000, so including the $1000 they already debited, that 20% of the charged off amount to stop the collection process.  I'm assuming even with all the lawsuits NFCU has been a part of since 2016 to present, PFD is not an option on the table as a counter offer.  I have the means to pay $4,000 to them within 10 days, besides my CRA showing 'paid, settled for less', how will this effect my credit and score?

      I know the general opinion on CB is that NFCU is GREAT and one should try to stay in their good graces, but it seems things there have changed for the downhill since 2017 and with a recent whistleblower lawsuit concerning their mortgage underwriting practices... their home loans advantage could also suffer in the near future.  Personally at this stage, I'm not '$25k-in-love' with NFCU, but if you can offer reasons to sway my judgment, it will be enlightening.   
      All in all, I'm seeking advice to get my title once the vehicle is paid off and maintaining the 'most amicable' relationship with NFCU going forward holding a single credit card, checking, and saving accts.  
       
    • By PS2020
      Heya, found this forum through a Reddit recommendation and have been thumbing through it for the past few days, and wanted to thank you all for the information you all post! I'm still kind of new to this, so I'm trying to best figure out how to handle my situation and could use some advice.
       
      The wife and I are thinking of home ownership in the next year or two so i'm trying to fix my side of the credit now. I THOUGHT I had several things in collections (frankly I should), but according to my credit reports from the big 3, I don't. Hell, I had 7 negative accounts back in january, but I checked again with annual credit report and I currently just have 3 accounts with negative marks. There's a 4th card that Experian and TU report, which is my Discount Tire (SYNCB/CAR CARE DISC TIRE), BUT it reports it as lost/stolen for some reason, even though I never did such a thing. REGARDLESS, I'll deal with that one if and when I need to (unless you have advice you'd like to give on that). I want to focus on the 3 that show up on all 3 credit reports.
       
      I'm not sure which Credit Report to go with as far as figuring out dates and stuff, because they're all kind of slightly different, so I'll mainly go with Experian:
       
      Amex -
      Payment Status - Charged Off
      Status Updated - September 2019
      Balance - $559
      Past Due Amount - $352
      Balance Updated - September 18 2020
      (Equifax) Delinquency First Reported - Sep 01, 2019
      (Trans Union) Estimated month and year that this item will be removed - 06/2022
       
      Chase Sapphire -
      Payment Status - Charged Off
      Status Updated - April 2019
      Balance - $5,693
      Past Due Amount - $5,693
      Balance Updated - April 22 2019
      (Equifax) Delinquency First Reported Apr 01, 2019
      (Trans Union) Estimated month and year that this item will be removed - 12/2020
       
      Chase Amazon -
      Payment Status - Charged Off
      Status Updated - April 2019
      Balance - $730
      Past Due Amount - $730
      Balance Updated - April 22 2019
      (Equifax) Delinquency First Reported Apr 01, 2019
      (Trans Union) Estimated month and year that this item will be removed - 09/2025
       
      I'm not sure why my sapphire says it'll be removed (allegedly of course) by the end of this year, because it's a higher debt and it wasn't paid the same time the chase amazon card wasn't, so that's where i'm confused. In fact, i'm just very confused in general, because I know I had more cards than this that I defaulted on unfortunately. I know you all heard every single "life was difficult" story, so please don't take my lack of elaborating as not caring about my mistakes, because I do deeply care; i'd just rather not bore you all with the same story you've heard before.
       
      SO
       
      I guess my question would be what is the best way of going about dealing with these 3 negative marks? I've gotten phone calls and letters for years and just never answer or respond to them. In fact, i'm sitting on a letter from Nationwide Credit in regards to my Chase Sapphire card from a couple weeks ago.
       
      Do I even bother dealing with letters from Nationwide Credit for example? Should I ignore those completely and go straight to the Original Creditors? If so, how do I even start that conversation? I'm in Illinois so I know the SOL is 5 years, which is why some of the "Estimated time this item will be removed" is confusing to me. 
       
      Anyways, thank you all for your time! If you need more info or if I asked in the wrong place, I'm deeply sorry! I just don't know where to start.
       
    • By Toast73
      Since my first store credit card in the summer of 1992 (JC Penney), Experian has used some form of subterfuge to decimate my credit rating with them.
       
      Their latest attempt to hornswoggle my credit report is actually frustrating me to the point of driving to their nearest corporate office (Schaumburg, IL).
       
      I have disputed items that are both obviously incorrect to the human eye and to the CRA. They verify the items and finish my dispute at 4:09AM.
      I request a reinvestigation. They verify it and finish the reinvestigation at 6:12AM.
       
      My report is in Special Handling, so I am confused as to why some pissed off Bangladeshi is completing my requests (as evidenced by the time of completion) instead of someone stateside.
       
      Nonetheless, I am overnighting 8 separate MOV letters to Experian requesting that they tell me who they spoke to at Montgomery Ward, and why an online catalog store told them I have an unsecured loan with them (when they do not offer such). Or how Gettington can tell me they cannot find anything they shipped to my non-existent address, yet can verify an account with Experian. (to name a few of my grievances).
       
      I am simultaneously sending each of the 8 companies a "Hey, can you tell me who you spoke with at Experian" letter. I fully expect all 8 to tell me "WTF are you talking about? Nobody from Experian contacted us."
       
      With paperwork in tow, I will find an FCRA attorney to hit them with 8 counts of FCRA malfeasance. I will look to settle with them for emotional damage, the violations, cost of preparing all notices (at $25 an hour) and whatever else is deemed just and proper.
       
      At this point, I'm not sure its about getting items removed anymore; it is painfully obvious that Experian (et al.) has a penchant for shoving the proverbial ham candle up the consumer's keister, sans lube, and intends to continue to do so with little (if any) oversight for all of eternity.
       
      I am still unsure if I can file action against LexisNexis for freezing my report in accordance with Georgia law (I am a Hoosier), and for referring to me as a female (my wife will verify my manparts if needed).
       
      Guess I am looking for input, and possibly some caveats, before firing these letters off.
    • By Toast73
      So I disputed (or so I thought I disputed) addresses off the Big 4. TU removed all addresses except for my current. EQ has my current and another non-BK address. EX won't budge.
       
      All bureaus froze. Microbilt, LexisNexis, SageStream, Chex, you name it. 
       
      Try to get full verification of the bankruptcy on my file, thinking the whole Trial Rule 1005 thing would help me (this rule makes only the last 4 of your social, full name and addy public-facing).
       
      No dice.
       
      This was the response L/N fed me, including a few notes in RED.
       
      Please critique, tell me I have no chance for removal, something....
       
       
    • By invisible
      Basically, below are the baddies on my reports. I know I can't do much for the lates, but I'm hoping I can work on the other ones. I’ve been lurking and researching, but not sure what to start with. Any help is appreciated.
       
      Equifax
       
      Lates:   Auto loan – 10x in past 2 yrs.
                  8 Navient Accounts – 7x in past 2yrs. (although was in forbearance)
                  2 Utah Higher Edu Accounts – 6x in past 2 yrs. (must verify if was in forbearance or deferment)
                  1 ACS Group Account – Sold in 2016, shows as closed and current status of 120 days past due.
       
      Charge Offs:    Cap One #1 = $1850 from Apr 2020, but shows as open and 120+ past due
                              UM Old Balance from 2012 – $8k
       
       Experian
       
      Lates:   Auto loan – 14x in past 2 yrs. Status says: Now paying/was a charge-off
                  8 Navient Accounts – 7x in past 2yrs. (although was in forbearance)
                  2 Utah Higher Edu Accounts – 6x in past 2 yrs. (must verify if was in forbearance or deferment)
                  1 ACS Group Account – Sold in 2016, shows as closed and current status of 120 days past due.
       
      Charge Offs:    Cap One #1 = $1850 from Apr 2020
                              Cap One #2 = $613 from Oct 2019
       
      Trans Union
       
      Lates:   Auto loan – 14x in past 2 yrs. (says C/O for Oct 2018)
                  8 Navient Accounts – 7x in past 2yrs. (although was in forbearance)
                  2 Utah Higher Edu Accounts – 6x in past 2 yrs. (must verify if was in forbearance or deferment)
                  1 ACS Group Account – Sold in 2016, shows as closed and current status of 120 days past due.
       
      Charge Offs:    Cap One #1 = $1850 from Apr 2020
                              Cap One #2 = $636 from Oct 2019
       
      Collections:     IC Systems (Charter Communications) = $167
       
       Auto loan: It was almost a repo. I paid past due the same day they set it out to be towed. I was 3 months behind. Why are they saying it was a charge off? What can I do?
      Student loans: I was in forbearance, but Navient says they no longer change credit reports. They sent me letter confirming forbearance for those months.
      Charge Offs: Since they are within past year, should I try to settle, pay in full, or wait a while?



  • Member Statistics

    • Total Members
      179,459
    • Most Online
      2,046

    Newest Member
    charlychass
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines