Is it possible for me to go from a 648 to a 680 in 3 months?

[Anonymous]

First off... I want to say thank you to all the posters on MyFico, this website has been amazing! all the stuff NO ONE teaches even for money...

My Credit Report:

Public Record                                             Fall Off Date                  Status

IRS Tax Lien Paid/Released                      November 2018               Filed form 12277 (Fresh Start Program) on 9/4 ... will check in 30days

Maryland State Tax Lien Paid/Released   June 2020                         They agreed to vacate and withdraw on 9/14 ... so I will check in 30days

CACH (Cap1) Judgment Paid/Released     May 2018                         DON'T KNOW WHAT TO DO…        

Baddies                                                          Fall Off Date                 Status

Cap1  1-30day late December 2013              Dec 2017                      Sent Goodwill Letter to Cap1 8/31, denied 9/14 (should I hire a lawyer?)

Cap1  C/O (the CACH judgment above)       April 2016                     Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

HSBC C/O (same as Midland below)            March 2016                  Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

Midland C/O (same as HSBC above)            March 2016                   Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

Current Open accounts/tradelines:

WF Car loan - 3 months old

Cap1 Secured $300 - 3 months old

Cap1 Secured $1,500 - 3years old

AAoA:

6 years (the Cap1 Charge Off/Judgment account was opened 9 or so years ago) Once this falls off my oldest open acct will be the 3y/o $1.5k Cap1 Secured

Current score: TU 648

Milestones:

1st - Sign up for Credit Monitoring w/ frequent pulls & scores - Oct 2015 (looking at USAA's but don't know anything about anything for credit monitoring)

2nd - 680 FICO - Dec 2015 (is this even possible?)

3rd - 5 Credit Card tradelines (Nov 2015) (applying for 10 CCs all in 1 night (so CRAs wont see the pulls) hope to get 5 CCs)

My ultimate goals:

- $20,000 in personal credit

- 700+ credit score

- $50k Business line of credit (no Personal Guarantee)

- $50k Business credit

Growth Plan: 

For the 5 CCs:

Call in for a CLI every 6 months on each (is this too often?)

To date:

- Used WhyChat's newbie plan (Optout, Obsolete Addresses & phone numbers, etc)

- All CRAs match in Public Records, Open Accounts and Adverse tradelines

[Anonymous]

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@Anonymous wrote:

First off... I want to say thank you to all the posters on MyFico, this website has been amazing! all the stuff NO ONE teaches even for money...

My Credit Report:

Public Record                                             Fall Off Date                  Status

IRS Tax Lien Paid/Released                      November 2018               Filed form 12277 (Fresh Start Program) on 9/4 ... will check in 30days

Maryland State Tax Lien Paid/Released   June 2020                         They agreed to vacate and withdraw on 9/14 ... so I will check in 30days

CACH (Cap1) Judgment Paid/Released     May 2018                         DON'T KNOW WHAT TO DO…        

Baddies                                                          Fall Off Date                 Status

Cap1  1-30day late December 2013              Dec 2017                      Sent Goodwill Letter to Cap1 8/31, denied 9/14 (should I hire a lawyer?) For what? because they won't "be nice"?

Cap1  C/O (the CACH judgment above)       April 2016                     Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

HSBC C/O (same as Midland below)            March 2016                  Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

Midland C/O (same as HSBC above)            March 2016                   Plan: dispute 6(TU) & 3(EX, EQ) months early w/ CRAs

Current Open accounts/tradelines:

WF Car loan - 3 months old

Cap1 Secured $300 - 3 months old Why another secured card? Did they deny you for an unsecured?

Cap1 Secured $1,500 - 3years old

AAoA:

6 years (the Cap1 Charge Off/Judgment account was opened 9 or so years ago) Once this falls off my oldest open acct will be the 3y/o $1.5k Cap1 Secured

Current score: TU 648

Milestones:

1st - Sign up for Credit Monitoring w/ frequent pulls & scores - Oct 2015 (looking at USAA's but don't know anything about anything for credit monitoring) Look into Credit Check Total

2nd - 680 FICO - Dec 2015 (is this even possible?) My gut says probably not, but Jan-March is definitely possible.

3rd - 5 Credit Card tradelines (Nov 2015) (applying for 10 CCs all in 1 night (so CRAs wont see the pulls) hope to get 5 CCs)

My ultimate goals:

- $20,000 in personal credit

- 700+ credit score

- $50k Business line of credit (no Personal Guarantee)

- $50k Business credit

Growth Plan: 

For the 5 CCs:

Call in for a CLI every 6 months on each (is this too often?) Depends on the lenders.

To date:

- Used WhyChat's newbie plan (Optout, Obsolete Addresses & phone numbers, etc)

- All CRAs match in Public Records, Open Accounts and Adverse tradelines

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Most everything is going to disappear soon. The single 30 day late will lose its impact after 24 months. You need to establish unsecured accounts (should have done that a while ago actually). Your scores should start rising after Jan.

[takeshi74]

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@Anonymous wrote:

Sent Goodwill Letter to Cap1 8/31, denied 9/14 (should I hire a lawyer?)

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If you have to rely on a GW letter then the creditor isn't obligated to do anything.  Whether or not your decide to pay a lawyer is up to you but a lawyer isn't a magician.  Your creditor is certainly aware that they don't have to do anything even if your lawyer sends them a letter.

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@Anonymous wrote:

1st - Sign up for Credit Monitoring w/ frequent pulls & scores - Oct 2015 (looking at USAA's but don't know anything about anything for credit monitoring) 

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There are many recently active threads on monitoring services.  If you want recommendations you need to define "frequent" and how much you're willing to pay.  What scores do you want?  Don't just assume that all credit scores are the same.  USAA's CCMP does not provide FICO's.

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@Anonymous wrote:

2nd - 680 FICO - Dec 2015 (is this even possible?) 

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No idea. Depends on your profile and what improvements you're able to make in that timeframe. We can't tell you that you'll get X points for doing Y.

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@Anonymous wrote:

Call in for a CLI every 6 months on each (is this too often?)

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Again, depends on your credit profile. CLI's are never simply handed out in exchange for time. Whether or not you qualify for a CLI all depends on your credit and income versus the creditor's underwriting criteria.

[Anonymous]

I think you need to give yourself more time with your plan.  You should get all three of your Fico scores to see where you are at.   You said you wanted to  apply for 10CC's in one night so the CRA's won't see it.  Do you mean that you think they will count as 1 inquiry?  If so, I don't think credit card inquiries work like that.  I believe they are counted individually.  You have two new accounts that are three months old.  My suggestion is to not apply for any credit cards until Jan or Feb.  My reasoning is that you will may have more derogs coming off after November and your accounts aging will give your score a boost.  You will be in a better place score wise to apply for more credit.

[Revelate]

Look into your state laws regarding a vacated judgement; maybe it can come off easily.  I'd post about it over in the Rebuilding forum as well.

Score improvement in the short term is really two things: getting negatives airstruck, and prettying up revolving utilization; sounds like you're on the right track with the lien deletions.  End of year might be a little aggressive but if your revolving debt isn't pretty you might make it: those CO's are pretty old if we're talking 7 years in March, and if you manage to get anything done with that judgement you're probably going to be sitting decently pretty in six months at least.

Actually you only mention your TU score: where are you getting that from?  Capital One is utter garbage for scores if that's what you're basing your 646 off of .   That makes more sense for your 646 if you did that, as not sure why you are so low with what you posted otherwise.