The Goku4 Running Credit Thread

[Goku4]

Also. Just opened my credit reports. I see I have Equifax and TransUnion; surely, one of these 5 must be Equifax. (Yes, the Allen TX address. I have all three.)

 

What is best/simplest/most effective way to dispute "Personal information," as in, any address I've had that is not my present one? And I use USPS CM-RRR correct? I am rusty. No rush on doing so, since my computer died last week... but. Is there a "best letter" or best thing to say?

[Goku4]

Should I download or otherwise use the Experian app?

[Goku4]

Experian says my FICO 8 score is 598.

 

New credit card 💳 from Brightway underwritten by OneMain financial line I got for $750.

 

According to Experian app, Portfolio looked at my credit yesterday. 

[hdporter]

7 hours ago, Goku4 said:

Experian says my FICO 8 score is 598.

 

New credit card 💳 from Brightway underwritten by OneMain financial line I got for $750.

 

I'm not thoroughly familiar with your current credit card portfolio.  A card like this is good if you haven't established two or three cards, while starting out in your credit journey or re-building.  But otherwise you should have your eye on higher quality fare and bumping up your existing CL's.

 

I may simply have faulty memory.  What advantage did you feel you gained by apping this card?

[MP80]

9 hours ago, Goku4 said:

New credit card 💳 from Brightway underwritten by OneMain financial line I got for $750.

I agree with HD's analysis about accepting OneMain Financial credit cards.

 

Let's look at how these fintech entities coordinate, with OneMain Financial acting as an intermediary (it is the successor to CitiFinancial and American General Finance), servicing the Brightway Mastercard product, issued by Utah's WebBank, a credit card provider for bad credit of people offering subprime loan products.

 

According to the Brightway Mastercard website, it's possible to get rewards like an increase in your credit limit or a lower APR in as little as six months. 

 

As for the credit limit of up to $3,000 and the APR of 30.00%, it is considered a better product than other subprime issuers. 

 

The bottom line is this product for a FICO score of 598 and is pretty hunky-dory neat peachy, just my 2 cents.

[Goku4]

3 hours ago, hdporter said:

 

I'm not thoroughly familiar with your current credit card portfolio.  A card like this is good if you haven't established two or three cards, while starting out in your credit journey or re-building.  But otherwise you should have your eye on higher quality fare and bumping up your existing CL's.

 

I may simply have faulty memory.  What advantage did you feel you gained by apping this card?

 

43 minutes ago, MP80 said:

I agree with HD's analysis about accepting OneMain Financial credit cards.

 

Let's look at how these fintech entities coordinate, with OneMain Financial acting as an intermediary (it is the successor to CitiFinancial and American General Finance), servicing the Brightway Mastercard product, issued by Utah's WebBank, a credit card provider for bad credit of people offering subprime loan products.

 

According to the Brightway Mastercard website, it's possible to get rewards like an increase in your credit limit or a lower APR in as little as six months. 

 

As for the credit limit of up to $3,000 and the APR of 30.00%, it is considered a better product than other subprime issuers. 

 

The bottom line is this product for a FICO score of 598 and is pretty hunky-dory neat peachy, just my 2 cents.

Well, let me answer why I applied for/accepted the card... and, *Admin prohibits insults that reference an individual's intelligence.* me. I also got approved for an Amazon Secured Store Card that I can make another $1000 max (minimum $100) secured credit line.. Contingent upon my deposit (I intend to get the max $1000CL which will be my highest.) So that then goes back to the answer, of the question you both had asked me.. I wanted to decrease UTIL (I've somewhat backed myself into a corner there) while I continue to do the best thing I could/should do.. Garden, and pay all my balances down to zero.

 

I'm also now officially done with Credit Karma, meaning I unsubscribed from ALL their e-mails and never have to log back in, that simple.. since I now have official Experian app (and paper reports on all 3 .) So I found it nifty that with all my fake score excitement and now I'm also done with PSECU (they offered a FICO score as well,) I'm now pursuing building with NFCU (yes I've been with them 7 years soon to be 😎 that I now knew a real FICO number.

 

Basically.. answer to the question was to get UTIL down, a card that can grow and increase limit since I've learned I shouldn't necessarily rely on Capital One for that despite my best effort (and even they MAY grow a CL,) so yeah okay case sure could be made "sub-prime hell" but with ne funding a $1000 (I hope) secured CL and then simply paying stuff down... should start 2024 off strong 💪 

 

Cards to pay down:

 

Milestone (name soon to change) - Maxed out. $700

Mission Lane (true rebuilder card, my credit was in the mid to high 400s 6 months to a year ago, maybe low 5s.. again not actual FICO, now I know..) ~$250 balance. That gets paid off this week. Joins $300 Capital One card at zero balance.

To pay down also: Merrick, Capital One, both almost $500 UTIL probably 90ish%.

 

I have until November 1st to fund this and I want to with the $1000. Can't believe I forgot to update here on that. There has been a lot going on.. most of it good.

 

[MP80]

1 hour ago, Goku4 said:

I'm also done with PSECU (they offered a FICO score as well,) I'm now pursuing building with NFCU (yes I've been with them 7 years soon to be 😎 that I now knew a real FICO number.

You just mentioned now that you're a member of PSECU and NFCU, why don't you focus on those two credit unions for a successful rebuild, you do acknowledge that those two entities offer pretty high credit lines, don't you? 

 

Let’s say you have negative reports ruining your score in addition to heavy usage. Try using a strategy to get rid of the pejorative and pay off the debt that will get your score up to 690-710 or beyond! 

[Goku4]

9 hours ago, MP80 said:

You just mentioned now that you're a member of PSECU and NFCU, why don't you focus on those two credit unions for a successful rebuild, you do acknowledge that those two entities offer pretty high credit lines, don't you? 

 

Let’s say you have negative reports ruining your score in addition to heavy usage. Try using a strategy to get rid of the pejorative and pay off the debt that will get your score up to 690-710 or beyond! 

Well. PSECU and I have terminated our banking relationship. NFCU and I are good.

 

If you're saying to next app with NFCU? ... 😎

[MP80]

6 hours ago, Goku4 said:

Well. PSECU and I have terminated our banking relationship. NFCU and I are good.

 

If you're saying to next app with NFCU? ... 😎

Good Lord! That's what you should do when you join Navy Federal!

 

The good news is that you’re already a member and there are no hurdles impeding you from applying for anything NFCU has to offer.

 

Start applying for a "cashRewards Card" and if you are denied, ask to reapply for a secured "nRewards Card" using the same TransUnion FICO 9 score.

[Goku4]

My score is going UP!

[MP80]

3 hours ago, Goku4 said:

My score is going UP!

What about NFCU?
It seems you have not applied for a Navy Federal Credit Card. 

[Goku4]

I am *this close* to being able to BUY (via funding the max available for a Secured card, thanks to results of an inquiry) a $1000 CL TL in the form of Amazon Secured. Not sure if that is Synchrony or Chase but.. The Amazon Store card. (Since under normal circumstances I buy everything from Amazon and have it mailed to my house.. 90% of things, for about 8 years or so.)

 

So at the end of the month I get to fund that between $100 to $1000.

 

They eventually mail me that amount back... right?

[greendeh]

Have you tried to just apply or prequalify for a non-secured?

 

https://www.amazon.com/Synchrony-Bank-Amazon-com-Store-Card/dp/B008A0GNA8

[Goku4]

$650 CL secured! 

[Goku4]

On 10/26/2023 at 1:39 PM, greendeh said:

Have you tried to just apply or prequalify for a non-secured?

 

https://www.amazon.com/Synchrony-Bank-Amazon-com-Store-Card/dp/B008A0GNA8

I did the "just apply."

 

I was approved for up to $1000.. had a friend come at me with a $200 emergency and I'm still figuring out transfer times from One bank (financial technology company, not a bank?) to my bank so. $650 it turned out to be not $1000.

[Goku4]

"My update is no update." Gardening mode. Got the $650 (out of possible $1000) Amazon Secured TL..  Now I'm simply paying down everything and doing my absolute best to pay everything on time to ding up my credit. It's been dinged up enough these past 6 months and probably 2 years before that. My score went Up 74 points according to experience and my actual fico Wendy Amazon secured hit.

 

From memory.. To pay:

 

Capital One 1 - $200 balance (?)

Capital One 2 - $400 balance 

Capital One 3 - $500 balance (this card is maxed out and I should pay it down ASAP)

2nd worst offender: Milestone card (card as bad as FPB, $700 CL monster,) $600 balance card no longer maxed out. 

Mission Lane $300 is PAID OFF IN FULL and SOCK DRAWERED.

Brightway $750 card has I think a $300 balance. I forget.

Merrick Bank $500CL card is PAID OFF IN FULL; Eligible for CLI with continued good payment history.. will be my first $1000 CL.

 

I think I got them all.

[MP80]

Man, seeing these all-subprime credit cards, you have a long way to go to rebuild your credit, and hopefully, you'll learn from your mistakes enough to get you out of these ruts.

 

Many people forget these questions:

 

What is credit?
Why is having good credit so important?
How do you maintain good credit?

 

I have seen that you have paid off your account balance. This is the correct process for using credit cards, recharging, and repaying. Don't drag the unpaid balance to accrue interest and have a continuous mentality. Pay every credit card bill in full and do so consistently.

 

Be very cautious of getting into the habit of carrying a balance every month, it will get you into deeper and deeper trouble, and that is how it starts in the beginning to entrap you by you not paying in full, and it will accumulate into colossal debt.

[Goku4]

Glad I checked the other Capital One (the one I am *technically* an Authorized User on, which I think then affects my credit.) That Capital One card... the credit limit was $500 and my balance was $541.24! I also missed my payment by a few days, says it was due November 2nd.

 

So, about one minute ago, I made a payment on it of $241.24 and brought my balance on it down to $300.  Not sure if I will get dinged a late on that or not ?

 

So. Updated lost, since this is about the only thing I think about and I have a strong desire to pay with what I'm making, and I do mostly (digging myself out of a rut, it's not perfect:)

 

Capital 1 1 - $206.64 CL $300 (goal is paid back down to $0 before end of the month) CL $300

Capital 1 2 - $413.92 been using that one for gas, credit now run up (goal is paid back down to $0 before the end of the month) CL $500

Capital 1 3 - $300 (see intro update. This is one I am reeling in. Did a good first step towards that this morning.)

 

Merrick Bank - $100 balance, CL $500.

Brightway - $550 balance, CL $750

Amazon Store card - Balance ~$100, CL $650 (have to see where I pay on this one.)

 

Mission Lane - $300 CL. Paid off, out of my wallet (due to better cards, I used to laugh at that trick of "take it out of your wallet") over and done with. I still log in and check that the balance is $0.

 

And.. last but not least, Milestone now Concora Credit, $700CL, balance $600 and next payment due on the 23rd.

 

Experian FICO As per Experian App on my phone says my FICO score before I hit Submit Reply is... 602, says +4 points.

[Goku4]

Paid Capital One 2 down $350 today 

[MP80]

There is a person who shares some of your linguistic tendencies and emotional gestures. Are you Joseph (guest alias)? He likes to do lots of hand signals and gesticulate. Just curiosity asking. 

 

 

 

 

 

[Goku4]

Merrick Bank PAID OFF!!! 

 

No emojis used to keep MP80 happy ?

[greendeh]

[MP80]

13 hours ago, Goku4 said:

Merrick Bank PAID OFF!!! 

 

No emojis used to keep MP80 happy ?

No, I just think you were being overly enthusiastic and sentimental by only paying off 10% of 50% of the utilization of your total credit limit. Often, one feels a sense of cautious optimism rather than the needlessly uplifting feeling you portray. 

[Goku4]

FICO score 602 as per Experian app today.. and only going up from there!

 

I basically put every dollar I have to knocking down balances. Should be to zero by Christmas..

[Goku4]

Updated balance sheet since I ended up needing an emergency axle replacement in Statesville North Carolina for about $392 after tax and fees:

 

zero balance cards

Capital 1 1 $300 CL - $0 Balance

Mission Lane $300 CL - $0 Balance

I might use the Capital One and PIF it. Maybe.

Capital One 3 $500 CL - $0 Balance 

 

Balances:

 

Capital 1 2 $500 CL - ~$350. I Have been using this card daily in attempt to PIF.

Merrick Bank $500 or $750 CL I forget - ~$300 due to using for emergency on road I described.

Mission Lane CL $700 - balance $475

Brightway $750 CL - Balance $500 I had to pay for a lawyer for a traffic ticket.