It's hard for me to fully understand how my rating got so low. I never had anything in collections, and have 17 satisfactory accounts to 3 adverse accounts. 2 of those 3 have only 30 days late, twice each, several years ago. The other one does have a lot more damage I admit but nothing in the last year.
I know now that I made a mistake when I consolidated my debt onto that Discover through a balance transfer. At the time I did it, I also paid off another card completely (not a transfer, sold something of value for $3,000.) The combination of that company then lowering my credit limit (since they could), as well as now having 90% utilization on the card I transferred debt to, dropped me more than 30 points in one month. It was funny, both moves certainly made me more creditworthy, and have allowed me to be on time for everything now for several months, but my credit dropped.
I know now that the score is partly a game - if you don't know the rules you aren't going to play very well.
It's just going to take forever to pay off $9000 debt at 27.99% interest - luckily 2/3 of it is at 7.9% because I balance transfered it. The good news is my automobile will be paid for at the end of 2008, giving me a monthly extra $300 to work on that debt.
The better news is my mortgage is in good shape (1 of those that just has 2 30-days, several years ago) so I am in a lot better shape than many people these days. I don't need to buy anything that requires credit - I have house, car, and don't need to buy anything. I just want out of this spiraling high APR trap.
Thanks all for your help.
