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The Goku4 Running Credit Thread


Goku4
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Well. Monday, August 14th, 2023. Perhaps it time to start a running credit thread.

 

Probably infrequent updates.. thought this would be a good place to start it: My FICO score (not a FAKO. This is a FICO score, as per a credit denial letter from Chase for Amazon.com Visa Signature) is 602 calculated as of 8/9/2023.

 

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Edited by Goku4
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Oh wow. I actually did a credit hack... So. That $500 Capital One line I got my Mom approved for ? Well. Upon activating the card.. it asked us if she wanted to add an Authorized User and I was able to ADD MYSELF AS ONE! ANOTHER $500 Credit Line reporting.. for basically a grand total of $1000 ($500 x 2) new TLs reporting about 5 days apart! :yahoo:

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Should I even bother, transferring my balances from my almost maxed-out $300 Mission Lane CC to one of the new $500 CL cards I applied for today (maybe the Union Plus one, since that is an actual TL in my name and not the other one where I'm just an AU and therefore probably can't do a BT?) Or should I just leave it be, and not even try the BT?

 

How do you do a BT, anyway? And does Capital One even let you do those?

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19 hours ago, Goku4 said:

Should I even bother, transferring my balances from my almost maxed-out $300 Mission Lane CC to one of the new $500 CL cards I applied for today (maybe the Union Plus one, since that is an actual TL in my name and not the other one where I'm just an AU and therefore probably can't do a BT?) Or should I just leave it be, and not even try the BT?

 

How do you do a BT, anyway? And does Capital One even let you do those?

 

It won't help your credit score, if that's what you're asking.  It appears they just look at your total credit available and total amount owed to calculate utilization, not utilization on each card.  So for instance if I maxed out one of my cards that has a $500 limit but I have ~$62K total credit available, that's still low utilization and good.

 

Now, if you have a 0% balance transfer offer, and can't pay that $300 off right away, it may be worth looking into, however, be aware that there's going to be a fee involved.  Personally I did one about 18 months ago because I had a high balance on one of my cards and my budget included paying that off over a year's time, so I just put all my debt on my JMPCB card and did pay it off before the offer ran out.  But, for such a low amount they might have a minimum $25 fee or something and that might be more than the interest you would pay on the balance where it is now over a year's time, gotta do the math and see if it's even worth it.  The other thing is typically when you have a 0% BT you can't use the card for anything else until it's paid off, because your payments will go to the lowest interest balance first so that $25 bottle of booze you bought or whatever will be accruing interest until the $300 balance is completely paid off.

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Well I was thinking the same, it may not be worth it to go through "balance transfer process." I'm going straight from "everything is maxed out" to somehow, someway, I added either $1500 or $2000 additional credit to my portfolio.. let me see. $500 Merrick bank; that can double in 7 months.. okay, $500. (That one wasnt referenced in this thread.) Add 2nd Capital One card approval, that's another $500. Then as AU on that $500 approval for Mom; okay looks like $1500 available credit. The last $500 is not mine it's my Mom's I'm just an AU. Got it.

 

So I presently have a $300 Capital One (Platinum) and a $300 Mission Lane and a $700 Milestone card (they are rebranding soon;) I'm presently using the Capital One card for as small purchases as I can, will pay that one down (off) first since Capital One just gave me all this credit, then keep it in wallet for emergencies. Then pay the Mission Lane down as well, then put that in a drawer since it literally has no future, then start chipping away at the Milestone.

 

The Capital One card: Limit $300, balance last week ~$300.. balance yesterday $220, bought $20 of items at Walmart and put $12 gas in car so. Back up to about ~$250. Paying $65 on that tomorrow as that's what I'm receiving tomorrow. Balance after tomorrow just under $200.

 

Mission Lane: Limit $300, balance ~$250. Minimum payment made on it.

 

Milestone: Limit $700. Balance $698. Due date August 23rd; minimum payment/payment $48 mailed yesterday. Should be there by the 23rd.

 

Oh and the new cards are $0 AF :yahoo:

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Just spent some time on the phone with Equufax specifically and disputed 4 old addresses, my one outstanding collections account.. and got it so they are going to send my Equifax report (hard copy through the mail) to my address.

 

They said their "system was updating" so. No idea if that will work in my favor...

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  • Admin
2 hours ago, Goku4 said:

I only have one baddie left, and it's Portfolio/PRA. Disputed it today...

 

Also. What do you think of this article here? https://boingboing.net/2023/08/15/consumer-debt-is-basically-optional-but-debt-collectors-rely-on-you-not-knowing-that.html/amp

I think it's information that has been covered innumerable times on our forums.

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On 8/20/2023 at 7:17 PM, hegemony said:

 

why? you don't want pre-screened offers for new cards?

Now I could have sworn that all that did was keep you in sub-prime hell. I have my score going up and aside from graduating the cards I have (does being an AU on a C1 card count as an actual card with C1? I have either 2.5 or 3) so all I have to do for now is garden before I try to take down a huge fish in a prime card...

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8 hours ago, Goku4 said:

Now I could have sworn that all that did was keep you in sub-prime hell.

Yeah, but you can choose which credit cards to apply for if you're opt in. Obviously, you would never apply for a credit card with a lower tier than Credit One or First Premiers. :)

 

I would say that you can apply for any credit card higher than Merrick Bank, or you can join some credit unions to apply for a credit card in the future, depending on whether your credit score gets formidable traction like over the score of 660 or better. Just my 2 cents.

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12 hours ago, greendeh said:

 

There is a lower tier?

 

I think the lower tier Super Subprime credit card belongs to Continental Finance. They are an intermediary entity, and the credit card issuers are the Bank of Missouri and Utah Celtic Bank.

 

Continental Finance manages at least 4-5 credit cards with many unfavorable terms and conditions that are much more predatory than Credit One and First Premier, Credit One gradually has rehabilitated its notoriously horrible policies to accommodate to generate the number of clients, therefore, Credit One is One of the tiers higher than First Premier.

 

The following are the terms and conditions of Continental Finance...

 

 

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  • 2 weeks later...

Well! I just got my paper reports from Experian to-day. So I am about to start the process of disputing my old addresses via paper and CM-RRR send.. How do some sample letters look for that? (Experian specific. I think every address has an "ID" associated with it)

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  • 2 weeks later...

So. I'm doing a lot better since I left the oil board I was obsessed with (and was taking up all my focus and attention and energy. Glad it's gone) and it seems that, although I'm doing A LOT better, I'm still about 3 or 4 days late on one of my AFFIRM payments.

(Looks like 5 days)

 

so, quick question. Will that hit my reports? Or does it have to be 31 days or more tardy to be reported...

 

I'm on the screen to pay it but how bad is that.

 

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Just for clarification, account delinquencies less than 30 days are not displayed on your credit report and do not impact your credit score.  Of course, the issuer maintains a record of the late payment and it may impact future credit decisions by that issuer.  One of two minor (under 30 days) are unlikely to adversely impact you with the creditor, aside from late fee assessment and finance charges.

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23 hours ago, hdporter said:

Just for clarification, account delinquencies less than 30 days are not displayed on your credit report and do not impact your credit score.  Of course, the issuer maintains a record of the late payment and it may impact future credit decisions by that issuer.  One of two minor (under 30 days) are unlikely to adversely impact you with the creditor, aside from late fee assessment and finance charges.

Yeah. Affirm hates me. I've had to use Affirm for true "emergency" purchases like matched tires because not doing that destroys things, etc etc etc etc. I had maybe 1 year 6 months bad and 6 months ok/average with Affirm. I'm presently about halfway paying them off and wouldn't dare ask for anything (credit.) I did pay their bill 5 days late; happy that won't hit my report.

 

My report/fake scores (I was not able to reactivate PSECU for actual FICO score. I will simply move on) took a hit due to new accounts/balances are "up." But then again, that's not real so. May not be real.

 

I took about 15 minutes and made sure I'm at least current on my bills, now thar I figured out "some kind of an income." Government job may even still hire me. Who knows 🤷‍♂️

 

OK so. Balances update: (as of this post)

 

Capital One Card 1 - CL: $300 Balance: $0 :yahoo:

Milestone credit card (soon to be renamed??) CL: $700 Balance: About $610 (was previously maxed out at $700.39)

Mission Lane: CL: $300 Balance: $274 (was previously maxed out at $299.91)

 

Then the rest/new ones...

Merrick Bank CL: $500 Balance: ~$435 (missed my goal of PIFing the first month. Next month I will. Made payment deadline)

The two Capital One cards with $500 limit I achieved have remained untouched.

 

So. My credit is all over the place. But the balances are going down...

 

Oh by the way? I'm probably gonna get a Toyota Camry to try to ease the pain of what I'm now viewing as "credit building" over my previous car adventures. The past is the past and I will let it be the past. Things only go up from here. 98 Camry.. 4 cylinder. Might get it. Cash.spacer.png

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Won't include fake scores because FAKO. But signs are looking good.

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