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Almost 250 points in 4 months...is this even possible?! (Long)

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Anonymous
Not applicable

Almost 250 points in 4 months...is this even possible?! (Long)

I've been a lurker, but it's time to introduce myself and hopefully get some advice.

I am 32 years old, and have never had anything but terrible credit. In fact, I've never had a credit card - not even a secured one. I moved out on my own at 16 and promptly developed awful credit habits: I was an immature teenager and paying bills wasnt a priority. Since i had no credit, the bright side is I never had an opportunity to accrue any real debt, but I have had nothing but utilities collections and unpaid medical bills since i was basically a kid. TBH, I really didnt grow up until i was about 26 and got married. Since my credit was full of collections, everything has always gone in my husband's name.

Fast forward to 4 months ago. I'm about to graduate college and apply to law school, and learned that I will have one hell of a time getting admitted to the bar to practice law with bad credit or past credit irresponsibility. I'm graduating college with a 4.0 GPA, which i worked my tail off for and am incredibly proud of, but realized suddenly and harshly that in the real world, your GPA means nothing and your credit score means everything. It was time to get real with myself and fix my shameful credit history.

In late march, I pulled my reports and my FAKO's, and to my dismay but not surprise, I had a 494 TU and a 531 EQ. Here's the aggregate summary of my reports as of late March:

- 8 collections/charge-off's, all under $500 (except for one $3500 collections for traffic ticket fines that had ballooned out of control with interest and compounding fees but had actually been paid down to under $300 a year ago but was still reporting at roughly $3500), all utilities and medical bills, nothing recent, several appeared to be re-aged as the original debts were over 7 years old.

- 2 open accounts: (one is my student loan debt of $19k, deferred while im still in school and thus reporting in good standing and acting as the saving grace for my AAoC; the other is an authorized user for my husband's $3k Discover card, balance $26, never late, 2 years old, but for some reason not counting toward my AAoC or my limits).

- No judgements/public records

- 4 inquiries (all from when we were applying for apartment leases a year ago)

 

I began disputing anything with an inaccurate balance or anything that seemed aged-out. Immediately the $3500 collection was removed, as well as an 8-year-old cell phone bill. My scores jumped to the 550-560 range, and i got my first-ever cc offer in the mail from CreditOne in early April. After a lot of research and careful deliberation, I dubiously applied and was approved for an unsecured $300 CL. I was thrilled to get my first card and thus a starting point.

I continued to dispute inaccuracies, and to my surprise, instead of simply updating the balances, these accounts were deletede completely. In May, I applied for a capOne Platinum, and accidentally applied twice. CapOne approved me and sent me TWO platinum cards (2 separate accounts, 2 weeks apart, both with $300 limits). I figured it was a mistake and called them, and they offered to upgrade one of them to a Quicksilver (same limit, but with 1.5% cash rewards). I now had THREE cc's (total $900), and resolved to nurture them like my life depended on it.

Since then I've PIF each month and kept my UTIL below 10%. (I do run 3-4 times my CL through the CapOnes each month, paying them off weekly and making sure they report with a $0-$12 balance by the statement date, which I've read from you all is the best way to get a good CLI with them.) Meanwhile, the innacurates have been slowly falling off, and I've paid anything accurate (medical bills only) along with a letters asking them to show me some mercy and remove from reports. As a result, my scores finally climbed to the very low 600's over 4 months.

 

Fast forward to this week (known hereafter as the BEST WEEK EVER):

- 2nd statement cut for CapOne Quicksilver

- 3rd statement due to cut for CapOne Platinum on the 27th, will try LUV button then.

- 4th statement cut for CreditOne, along with an email saying they've given me a free CLI to $500

- Alert from Credit Karma that my very last derog has been removed from TU (result of paying med bill and asking for a delete)

- Alert from myFICO that my TU score has jumped from 637 to.... 731!!!! (Is this even possible? I'm thinking it has to be an error! Even with no more negatives on my TU, 731 doesnt seem possible. I just can't accept that it's real. Im just waiting for the alert that it's been corrected.)

- Went shopping for daughter's bday at TJMaxx. Knew I absolutely should NOT be applying for any more credit after opening 3 cards in 4 months, butwhen the cashier asked if id like to open a store card, I decided to take a chance, figuring a store card would help my credit mix. Instant approval for.... $1,400!!! And it's the TJX Rewards Mastercard that can be used anywhere, not the store card afterall.

 

To recap:

I now have just two derogs left: both medical collections under $200 - one is showing on both EQ and EX, the other just on EX. Current scores are 622 (EQ), 628 (EX), and SOMEHOW 731 (TU, although, again, that just can't be right). I went from never having a card to having 4 in just 4 months, and then from having a total of $900 in credit to having $2500 in credit in the last week!

 

I still assert that the 731 is an error, but even mid-600s would be incredible for me, and i'd never be on the up-swing without these forums. Thank you all for unknowingly mentoring me these last 4 months.

 

Questions:

- How likely is it that the 731 TU FICO is a fluke error? (My TU FAKO only shows 657). - How likely is it that TJX card will get lowered/closed since i only spend maybe $100-$200 there every 2-3 months (and dont intend on upping my spending just because i have credit cards!) and certainly wont use that card anywhere else with its 27.74% APR? - What should i make of the 100 point difference between my TU and my EQ/EX? - Am I taking the right approach with CapOne?

 

If you've made it through this unreasonably long post, thank you sincerely. All of you are my motivation/inspiration.

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

You've done very well. The TU score is most certainly accutate and not a fluke. A clean report with 3-4 revolving accounts and low UTI will get you a 700+ score any day of the week. Now try and get the EQ and EX files clean.

Message 2 of 8
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

Thanks for the encouragement! I guess I'm still too shocked to allow myself to believe it, but I'll take the word of a far more experienced credit connoisseur!

Message 3 of 8
sarge12
Senior Contributor

Re: Almost 250 points in 4 months...is this even possible?! (Long)


@Anonymous wrote:

I've been a lurker, but it's time to introduce myself and hopefully get some advice.

I am 32 years old, and have never had anything but terrible credit. In fact, I've never had a credit card - not even a secured one. I moved out on my own at 16 and promptly developed awful credit habits: I was an immature teenager and paying bills wasnt a priority. Since i had no credit, the bright side is I never had an opportunity to accrue any real debt, but I have had nothing but utilities collections and unpaid medical bills since i was basically a kid. TBH, I really didnt grow up until i was about 26 and got married. Since my credit was full of collections, everything has always gone in my husband's name.

Fast forward to 4 months ago. I'm about to graduate college and apply to law school, and learned that I will have one hell of a time getting admitted to the bar to practice law with bad credit or past credit irresponsibility. I'm graduating college with a 4.0 GPA, which i worked my tail off for and am incredibly proud of, but realized suddenly and harshly that in the real world, your GPA means nothing and your credit score means everything. It was time to get real with myself and fix my shameful credit history.

In late march, I pulled my reports and my FAKO's, and to my dismay but not surprise, I had a 494 TU and a 531 EQ. Here's the aggregate summary of my reports as of late March:

- 8 collections/charge-off's, all under $500 (except for one $3500 collections for traffic ticket fines that had ballooned out of control with interest and compounding fees but had actually been paid down to under $300 a year ago but was still reporting at roughly $3500), all utilities and medical bills, nothing recent, several appeared to be re-aged as the original debts were over 7 years old.

- 2 open accounts: (one is my student loan debt of $19k, deferred while im still in school and thus reporting in good standing and acting as the saving grace for my AAoC; the other is an authorized user for my husband's $3k Discover card, balance $26, never late, 2 years old, but for some reason not counting toward my AAoC or my limits).

- No judgements/public records

- 4 inquiries (all from when we were applying for apartment leases a year ago)

 

I began disputing anything with an inaccurate balance or anything that seemed aged-out. Immediately the $3500 collection was removed, as well as an 8-year-old cell phone bill. My scores jumped to the 550-560 range, and i got my first-ever cc offer in the mail from CreditOne in early April. After a lot of research and careful deliberation, I dubiously applied and was approved for an unsecured $300 CL. I was thrilled to get my first card and thus a starting point.

I continued to dispute inaccuracies, and to my surprise, instead of simply updating the balances, these accounts were deletede completely. In May, I applied for a capOne Platinum, and accidentally applied twice. CapOne approved me and sent me TWO platinum cards (2 separate accounts, 2 weeks apart, both with $300 limits). I figured it was a mistake and called them, and they offered to upgrade one of them to a Quicksilver (same limit, but with 1.5% cash rewards). I now had THREE cc's (total $900), and resolved to nurture them like my life depended on it.

Since then I've PIF each month and kept my UTIL below 10%. (I do run 3-4 times my CL through the CapOnes each month, paying them off weekly and making sure they report with a $0-$12 balance by the statement date, which I've read from you all is the best way to get a good CLI with them.) Meanwhile, the innacurates have been slowly falling off, and I've paid anything accurate (medical bills only) along with a letters asking them to show me some mercy and remove from reports. As a result, my scores finally climbed to the very low 600's over 4 months.

 

Fast forward to this week (known hereafter as the BEST WEEK EVER):

- 2nd statement cut for CapOne Quicksilver

- 3rd statement due to cut for CapOne Platinum on the 27th, will try LUV button then.

- 4th statement cut for CreditOne, along with an email saying they've given me a free CLI to $500

- Alert from Credit Karma that my very last derog has been removed from TU (result of paying med bill and asking for a delete)

- Alert from myFICO that my TU score has jumped from 637 to.... 731!!!! (Is this even possible? I'm thinking it has to be an error! Even with no more negatives on my TU, 731 doesnt seem possible. I just can't accept that it's real. Im just waiting for the alert that it's been corrected.)

- Went shopping for daughter's bday at TJMaxx. Knew I absolutely should NOT be applying for any more credit after opening 3 cards in 4 months, butwhen the cashier asked if id like to open a store card, I decided to take a chance, figuring a store card would help my credit mix. Instant approval for.... $1,400!!! And it's the TJX Rewards Mastercard that can be used anywhere, not the store card afterall.

 

To recap:

I now have just two derogs left: both medical collections under $200 - one is showing on both EQ and EX, the other just on EX. Current scores are 622 (EQ), 628 (EX), and SOMEHOW 731 (TU, although, again, that just can't be right). I went from never having a card to having 4 in just 4 months, and then from having a total of $900 in credit to having $2500 in credit in the last week!

 

I still assert that the 731 is an error, but even mid-600s would be incredible for me, and i'd never be on the up-swing without these forums. Thank you all for unknowingly mentoring me these last 4 months.

 

Questions:

- How likely is it that the 731 TU FICO is a fluke error? (My TU FAKO only shows 657). - How likely is it that TJX card will get lowered/closed since i only spend maybe $100-$200 there every 2-3 months (and dont intend on upping my spending just because i have credit cards!) and certainly wont use that card anywhere else with its 27.74% APR? - What should i make of the 100 point difference between my TU and my EQ/EX? - Am I taking the right approach with CapOne?

 

If you've made it through this unreasonably long post, thank you sincerely. All of you are my motivation/inspiration.


Your credit score is a snapshot in time, not figured based on past scores. If you have a mortgage and a BK showing on your CRA, and you always pay your mortgage on time, it is not unusual for a score to go up 150 points the month after the BK falls off the report. Basically, your score is based solely on what is on your report now and has no memory of what was your previous score. The Der. normally drop off in a certain amt of time or through removal by creditors, but once they drop off it is as if they were never there in the first place. Enjoy your higher score and vow to keep it high.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 4 of 8
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

Quick update:

I just got another FICO alert that a new account has been added.... (the TJX card showed up just 3 days after opening??)... apparently the $1,400 instant limit they gave me was just my temporary limit, because it just showed up on Experian as having a $2k limit (and $141 balance). 

Total CL over 4 cards now at $3,100.

Very excited.

Message 5 of 8
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

Congratulations on your progress! I believe, as was already said, that your TU score is accurate. Imagine when the last two baddies fall off of EQ and EX!!! Smiley Happy

Message 6 of 8
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

Congratulations that is awesome!
Message 7 of 8
Anonymous
Not applicable

Re: Almost 250 points in 4 months...is this even possible?! (Long)

Congrats & keep it up!

Message 8 of 8
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