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dodge69874

New Member - Help Me Form a Plan

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Well, I just joined, been on here a few times looking at info for loans and credit cards in the past, but its time I got serious about bringing my credit up since I just got out of the military and want to purchase a home next year, so I joined to get some serious knowledge from people that obviously know about this. Just looking through the stickies I see I have a lot of reading to do. But I wanted to post explaining where I'm at now and seeing if I'm on the right track or if maybe theres some things I don't know about which could really help. 

 

So, for the last year my scores have mostly been lower 600s to high 500s mostly due to high amount of credit usage. However, I have paid off a good portion of them recently and now am into the high 600s, hopefully low 700s soon. (687 Trans/685 Equi as of today)

 

Credit Cards:

-CapitalOne Secured 1000 limit/1000 avail

-CapitalOne 1200 limit/1200 avail

-NavyFed 7000 limit/3500 avail

 

Loans:

-NavFed Auto 20000

-NavFed Personal 4000

 

As far as delinquencies or collections, the only negative I have is like a $100 Tampa Electric bill that went into collections about a two years back because I wasn't aware I owed anything after moving and terminating my service. Besides that pretty much all my bills have been paid on time for the last year and a half, except for 1 or 2 payments I was a month or 2 behind due to being on deployment and unable to pay them. 

 

So my plan for the (next few months) near future is pay off the rest of my NavFed credit card, pay off my personal loan, try to correct the collections account if possible, and hopefully raise my credit limits. Well, any information and tips would be much appreciated. 

cre.jpg

trans 1.jpg

equi 1.jpg

Edited by dodge69874
correction

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I do also have about $8000 of student loans through Navient, but they've been on military deferment and will continue to be so for the next year. Though I do want to pay them off as soon as I can as well. I do hate that it shows as 4 different accounts instead of 1, even though they are all through Navient. However, I don't want to mess with it since I managed to lower my interest rate on them since I was in the military.

Edited by dodge69874

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Welcome.


- With a collection account reporting and more than one recent late your real (FICO) scores may be even lower.  There isn't much value in tracking your Vantage Skores because almost no company that extends credit uses that measure to evaluate your creditworthiness.  So those skores really don't tell you where you are.  There is a long thread on CB that details the numerous places you can get FICO scores for free, and you can also purchase them if you want to.

 

- What have you done with the utility collection, if anything, so far?  

 

- Have you tried to goodwill the recent lates?  

 

- Most accounts have autopay, which would have made the payments on time while you were deployed.  A lot of people manage all of their accounts using autopay just for convenience, but in your circumstance it was a necessity.

Edited by cv91915

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On 1/13/2019 at 5:29 AM, cv91915 said:

Welcome.


- With a collection account reporting and more than one recent late your real (FICO) scores may be even lower.  There isn't much value in tracking your Vantage Skores because almost no company that extends credit uses that measure to evaluate your creditworthiness.  So those skores really don't tell you where you are.  There is a long thread on CB that details the numerous places you can get FICO scores for free, and you can also purchase them if you want to.

 

- What have you done with the utility collection, if anything, so far?  

 

- Have you tried to goodwill the recent lates?  

 

- Most accounts have autopay, which would have made the payments on time while you were deployed.  A lot of people manage all of their accounts using autopay just for convenience, but in your circumstance it was a necessity.

+1

 

Regarding the utility collection, get a pay for delete and let them know you are Military. They tend to be accommodating to our service men and women. 

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