Applied Bank CO Question

tinkytoo · ‎11-05-2010

Hey everyone,

I have a CO credit card with applied bank that is calculating into my utlization, my question have anyone ever had any luck doing a PFD with them. If so did you offer the full amount or a settled amount.

My second question is for the experts I know you can't give me a definate amount but being that my ulizations is reporting over 100% if I paid this and it reaches a 0 balance approx how many points can I gain.

Anonymous · ‎11-06-2010

I did a PFD with them about a year ago for 50%. It took a compaint to the BBB to get them to respond to my letters. I gained 30 points when it dropped from my reports.

MarineVietVet · ‎11-06-2010

@tinkytoo wrote:
Hey everyone,

I have a CO credit card with applied bank that is calculating into my utlization, my question have anyone ever had any luck doing a PFD with them. If so did you offer the full amount or a settled amount.

My second question is for the experts I know you can't give me a definate amount but being that my ulizations is reporting over 100% if I paid this and it reaches a 0 balance approx how many points can I gain.

All I will venture to say is that it should help quite a bit but there are just too many variables involved. Your report and the items in it are unique to you alone and how this will affect your score in precise terms is impossible to predict (guess?) IMO.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

RobertEG · ‎11-06-2010

+1. Not enough info provided.

Amplifying on marinevet's comments, what is the CL on this card, and what is your total CL and % util, with and without it?

When you pay it off, you will lose its CL in your overall % util calculation. So it matters, big time, whether it is a $300 or a $3,000 CL card.

If you pay without a PFD for all prior derogs on the card, they will all remain. Including the CO. One major derog matches, in magnitude of credtit score impact, almost anything you can do in monthly % util reduction on one card.

What is needed, at a min., is the CL and current % util of each card before and after your action on the one card, before any point gain could even be attempted.

Prior derogs also influence what scoring category you are in, so any potential score increase might also depend on your scoring bucket.

Not a question that can be answered based on informtion provided.

Anonymous · ‎02-24-2012

I had the exact same problem that you did. I had a Applied Bank CC Charge-off showing a balance of $1700 and was killing my utilization! I emailed the company with a PFD for $700 since it was past the SOL and a woman named edited called me and agreed to do a PFD for $1000. So, it can be done!!

Edited to remove someone else's name. - llecs, myFICO moderator

Anonymous · ‎02-24-2012

@Anonymous wrote:
I had the exact same problem that you did. I had a Applied Bank CC Charge-off showing a balance of $1700 and was killing my utilization! I emailed the company with a PFD for $700 since it was past the SOL and a woman named edited called me and agreed to do a PFD for $1000. So, it can be done!!

Edited to remove someone else's name. - llecs, myFICO moderator
Nicole, if you wouldn't mind...could you PLEASE send me the contact information you used? I'm trying to PFD them.