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What's my next move?

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ymmv
Established Member

What's my next move?

Hey guys! I've been lurking on the forum for several weeks and learned so much just reading the many inciteful posts. I need your help!

 

My story:

 

I attended college back in 04 and quickly ran into trouble w/ cc's because of online poker. Several cards were maxed out and went into collections. Fast forward 8 years later. My credit score is 727 or 747 depending on the credit bureau (minimal utilization 9%). My last baddie was in Oct of 09 w/ a Wells Fargo secured card. After that Chase is reporting a 120 day late in 08. I have several student loans that are holding up my AAoA and w/ no lates.

 

In August I will be inquary free for a year. Right now I have a Capital One with a 500 limit and a Express with a 950 limit. I really want to shoot for the AMEX BCE and AMEX green or gold. But I'm not sure what the right longterm move is. Any thoughts? Should I try to GW those baddies and just let them fall off. Thanks! What's my move if I want to get to 760+?

BofA 123 - 0/5K, Discover More 0/8K, Amex Blue 0/9.4k, Capital One Platinum 0/5k, Express 0/1350
Message 1 of 6
5 REPLIES 5
Crashem
Valued Contributor

Re: What's my next move?

You sure your scores are real? Given what you said about your credit profile, the scores seem a bit high. Where did you get them?
               LIMITS IN CARD DESCRIPTIONS
Message 2 of 6
llecs
Moderator Emeritus

Re: What's my next move?

I also agree the scores seem high for the 120-day. I have seen some impossible posts that proved true though (*still shakes head after reading one post of 760 FICO with a BK reporting...and confirmed as true*).

 

I would take the steps to GW the remaining baddies (2?). Continue to keep util low too. If you can get them off, you could be in better shape to apply for an Amex.

Message 3 of 6
ymmv
Established Member

Re: What's my next move?

My ck vantage score shows 747. On freecreditscore my numbers were 727 747 727. Myfico showed 680 two or three months ago when my utilization was higher. Is it possible the impact of the baddies are smaller since its been 4-5 years?
BofA 123 - 0/5K, Discover More 0/8K, Amex Blue 0/9.4k, Capital One Platinum 0/5k, Express 0/1350
Message 4 of 6
lithium78
Established Contributor

Re: What's my next move?

With the AF Amex charges on the Green and Gold cards, you have to determine if it's worth it to apply.  $95 or the green and $125 for the gold are pretty steep for the average consumer.  I recently graduated from sub-prime to prime in the past year and my first prime cards are BoA 123 Cash Rewards and Discover More.  That combo has been really effective for pretty much any purchase I need to make and they don't charge AFs.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Message 5 of 6
llecs
Moderator Emeritus

Re: What's my next move?


@ymmv wrote:
My ck vantage score shows 747. On freecreditscore my numbers were 727 747 727. Myfico showed 680 two or three months ago when my utilization was higher. Is it possible the impact of the baddies are smaller since its been 4-5 years?


Baddies do lessen over time. They won't reach 0 per impact, but it'll get better with time. Certainly worth a large double-digit loss now though. Definitely worth some GW letters.

Message 6 of 6
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