I've done so much to repair my credit -- focused a complete year of nearly $8,500 dollars just to pay off my debt and I'm 6 months away from living debt free (except for rent/utilities). I've saved my story below my 3 questions for you to read over breakfast, if you like reading happy stories, but I'm desperate to have my 3 questions answered:
1. How badly is the message "Account closed by credit grantor" on my credit report for my closed CC hurting my score? Note, my status today says "Pays as Agrees"
2. I'm about to make my last payment with this closed account and I want to find out from a consumer/expert here if I could I could persuade the CC to change this message to "Account closed at consumers request" or something like that. Has anyone heard if that could be done/what do I do to persuade the CC company to make that happen?
3. Also, my 5 year credit history with this card is very dodgy otherwise my card probably wouldn't be closed by the credit granter. Is there any way to have the card company "fix" or "change" any of my past months in my credit history to "on time" by persuading them as well? I'm about to make my last payment of a lot of money and I'm looking for any ammo I could use to leave with something really good on my credit report with this CC.
My credit history with this card:
- seven 30 days lates,
- five 60 day lates,
- three 90 day lates,
- two 120 day lates,
- thirty six on time payments.
---
Below is my story:
---
I'm hoping there's a light at the end of this long tunnel that I've been trying to repair... and have repaired, but I'm looking to repair even more... if possible!
April 2005: my CC was $4,308 in debt with a $2,500 credit limit. I went over my credit limit because of late payments, so they charged me fees for late payments, charged me fees for going over balance, charged me for that monthly CC service I signed up for that you pay in case you ever lose your job kinda thing... plus huge finance charges, on top of other fees I can't think of at the moment. It was a bizarre situation that I got myself into, but I was able to fix a lot of what I did to myself on my own just by getting my act together. The funniest thing, which is really hard to say at the same time and many will probably cringe when they read this, I probably spent about $1,200 dollars total on that card and everything else is just interest and fees.
The CC closed my account early 2005 and the reason my CC was not charged off was because I was making a $50 payment every month through their automated system although I was stacking up in hundreds of dollars in monthly fees, but they were still getting money from me.
In my opinion, that automated service of $50, which wasn't even my minimum payment, saved me from a huge charge off, because I spent the last 14 months paying off that balance.
It's now June 2006 and my balance is $349. I'm about to make my last payment at the end of the month, which is still a lot of money. My APR currently is 24.99%, only because they sent a letter to me in December inside my paper statement that I had to respond to and did not open, so my APR was raised from 19% to 24.99%.
I'm about to be debt free in 6 months and I'm 27 years old. I was able to raise my credit score from 490 to 624 (as of yesterday), which was 614 the other day. Note, I had to pull that credit score, because my credit watch didn't know it changed. That's another story, because I'm just happy to see a change on my score towards my goal of 700+, because my fiance and I are trying to save for a house.
I'm very glad the CC company didn't charge off my card, because I probably would not be able to repair the damage that I did if it wasn't for that little automated payment. I spent a whole year paying that money back and I proved to this company that charging off a card is not the answer, because some irresponsible consumers like myself wants to pay off their debt -- it would just take some time and I did it.
Thanks so much guys -- I love this forum, I'm new to this forum, I love reading your stories and hope to help you with many of your questions.
Sincerely,
Evan
Message Edited by evan on 06-19-2007 05:06 AM
1. How badly is the message "Account closed by credit grantor" on my credit report for my closed CC hurting my score? Note, my status today says "Pays as Agrees"
2. I'm about to make my last payment with this closed account and I want to find out from a consumer/expert here if I could I could persuade the CC to change this message to "Account closed at consumers request" or something like that. Has anyone heard if that could be done/what do I do to persuade the CC company to make that happen?
3. Also, my 5 year credit history with this card is very dodgy otherwise my card probably wouldn't be closed by the credit granter. Is there any way to have the card company "fix" or "change" any of my past months in my credit history to "on time" by persuading them as well? I'm about to make my last payment of a lot of money and I'm looking for any ammo I could use to leave with something really good on my credit report with this CC.
My credit history with this card:
- seven 30 days lates,
- five 60 day lates,
- three 90 day lates,
- two 120 day lates,
- thirty six on time payments.
---
Below is my story:
---
I'm hoping there's a light at the end of this long tunnel that I've been trying to repair... and have repaired, but I'm looking to repair even more... if possible!
April 2005: my CC was $4,308 in debt with a $2,500 credit limit. I went over my credit limit because of late payments, so they charged me fees for late payments, charged me fees for going over balance, charged me for that monthly CC service I signed up for that you pay in case you ever lose your job kinda thing... plus huge finance charges, on top of other fees I can't think of at the moment. It was a bizarre situation that I got myself into, but I was able to fix a lot of what I did to myself on my own just by getting my act together. The funniest thing, which is really hard to say at the same time and many will probably cringe when they read this, I probably spent about $1,200 dollars total on that card and everything else is just interest and fees.
The CC closed my account early 2005 and the reason my CC was not charged off was because I was making a $50 payment every month through their automated system although I was stacking up in hundreds of dollars in monthly fees, but they were still getting money from me.
In my opinion, that automated service of $50, which wasn't even my minimum payment, saved me from a huge charge off, because I spent the last 14 months paying off that balance.
It's now June 2006 and my balance is $349. I'm about to make my last payment at the end of the month, which is still a lot of money. My APR currently is 24.99%, only because they sent a letter to me in December inside my paper statement that I had to respond to and did not open, so my APR was raised from 19% to 24.99%.
I'm about to be debt free in 6 months and I'm 27 years old. I was able to raise my credit score from 490 to 624 (as of yesterday), which was 614 the other day. Note, I had to pull that credit score, because my credit watch didn't know it changed. That's another story, because I'm just happy to see a change on my score towards my goal of 700+, because my fiance and I are trying to save for a house.
I'm very glad the CC company didn't charge off my card, because I probably would not be able to repair the damage that I did if it wasn't for that little automated payment. I spent a whole year paying that money back and I proved to this company that charging off a card is not the answer, because some irresponsible consumers like myself wants to pay off their debt -- it would just take some time and I did it.
Thanks so much guys -- I love this forum, I'm new to this forum, I love reading your stories and hope to help you with many of your questions.
Sincerely,
Evan
Message Edited by evan on 06-19-2007 05:06 AM
