Rebuilding, secured to unsecured and how to increase scores.

[DCY030]

Hi, 

After a long failed sprint, I am back at it again. In 2016, I eneded up with several CO that mostly have fallen off now.   In 2021, I secured a TD Bank secured Card $1500 CL and 2 US Bank secured cards with a 5K CL, to help me rebuild. Both cards have not graduated yet. I would like to increse my scores and reach into 700 territory. Should I add another revolver or try to free my money first from US Bank.

I would really appreciate any strategic insight or recommendation. 

 

Lates and CA

Credit Collection Service paid in full from 2022, but still on reports.

I had an Auto lease that had sporadic lates 30X8, 60X1 and 120X1 all from 2019. I have paid that in full and closed it.

A verizon wireless paid in full CA from 2021.

 

Positive Lines

Utilization is 1%

TD Bank $1500 Opened in 2021

US Bank $5000 Opened in 2021

US Bank $5000 Opened in March 2022.

Student loans in the amount of 27k with nothing deragatory.

 

TU FICO8 660 

Credit Collection Service paid in full from 2022, but still on reports.

I had an Auto lease that had sporadic lates 30X8, 60X1 and 120X1 all from 2019. I have paid that in full and closed it.

A verizon wireless paid in full CA from 2021.

 

EX FICO8 610

NFCU Visa $8000 CO fall off date 10/23

Penfed Visa $0       CO  fall of date  10/23

Credit Collection Service paid in full from 2022, but still on reports.

I had an Auto lease that had sporadic lates 30X8, 60X1 and 120X1 all from 2019. I have paid that in full and closed it.

A verizon wireless paid in full CA from 2021.

 

EQ FICO8 590

NFCU Visa $8000 CO fall off date 10/23

Penfed Visa $0      CO  fall of date  10/23

Credit Collection Service paid in full from 2022, but still on reports.

I had an Auto lease that had sporadic lates 30X8, 60X1 and 120X1 all from 2019. I have paid that in full and closed it.

A verizon wireless paid in full CA from 2021.

 

 

 

[shifter]

I'm sorry to say but with CAs a couple of years old and 120DL you are unlikely to be able to reach 700 anytime soon. You will need to work on getting those removed. 

[DCY030]

15 minutes ago, shifter said:

I'm sorry to say but with CAs a couple of years old and 120DL you are unlikely to be able to reach 700 anytime soon. You will need to work on getting those removed. 

US Bank is using FICO 9. My TU FICO 9 is 735, do you think it is a wise stepto ask US Bank to graduate the cards?

[shifter]

FICO 9 is out of 900 or whatever. 700 on that score is meaningless. 

[DCY030]

11 hours ago, shifter said:

I'm sorry to say but with CAs a couple of years old and 120DL you are unlikely to be able to reach 700 anytime soon. You will need to work on getting those removed. 

For a DP, how long one 120DL significantly supresses the score. Mine occured in July 2019.

Verizon is a tough cookie to break. almost impossible to remove them. I am working on CCS.

 

[shifter]

3 hours ago, Fred030 said:

For a DP, how long one 120DL significantly supresses the score. Mine occured in July 2019.

Until the full 7 years you will lose approximately 70 points. So it's possible after 5 years you can get into the low 700s range. 

[DCY030]

Minor update!

US Bank upgraded me to an unsecured card on their own. Card has the same CL what the secured one had. I recieved a check of 5k today.

I wanted to PC to Csh Plus, they suggested I wait untill Sept for the card to have one statement cut before it can be PC.

[hegemony]

12 hours ago, Fred030 said:

Minor update!

US Bank upgraded me to an unsecured card on their own. Card has the same CL what the secured one had. I recieved a check of 5k today.

I wanted to PC to Csh Plus, they suggested I wait untill Sept for the card to have one statement cut before it can be PC.

outstanding!!!