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Established Member
Posts: 24
Registered: ‎02-14-2013
0

Beyond Frustrated

Mod - I'm not sure if this is the right/wrong place to post this so if it needs to go over in Credit Cards I apologize.

 

I've posted a few times regarding rebuilding our credit. I feel I've done everything I'm supposed to do and my scores are just consistently dropping. This is helping us in our quest for our house.

 

I had a Fingerhut accnt - which I paid off, VS card sitting at 0 and CO with a balance of 30.00 (paid it down to 0.00 last billing cycle)

 

I just don't get it. I'm attaching an excel sheet I've been keeping up with and i'm just at a loss. What the heck is going on or what do I need to do differently.

 

I added myself to DH's WM card at 0 Balance and just spoke to the Credit Union to add me as an AU for his MC 0 Balance.

 

ps the cards that are at zero balance we've used but paid off - when in use they are utilized no more than 9%.

 

Smiley Sad

 

 

 

My Scores:
Equ: 575 (11.2011) 631 (09.2012) 646 (12.2012) 652 (01.2013)
Exp: 524 (11.2011) 573 (09.2012) 633 (12.2012) 629 (01.2013)
TU: 520 (11.2011) 601 (09.2012) 636 (12.2012) 641 (01.2013)
My Husband:
Equ: 530 (11.2011) 584 (09.2012) 600(12.2012) 599 (01.2013)
Exp: 529 (11.2011) 590 (09.2012) 621 (12.2012) 616 (01.2013)
TU: 550 (11.2011) 608 (09.2012) 629(12.2012) 626 (01.2013)
Valued Contributor
Posts: 1,453
Registered: ‎04-14-2012
0

Re: Beyond Frustrated

Sorry to hear your frustration...I know it can be at times.

So, the first thing I notice is......FICO does not like to see everything at a $0.00 balance. You will get a better score if you have 1 card reporting a small balance.

*8/10/13
Regular Contributor
Posts: 195
Registered: ‎03-27-2013
0

Re: Beyond Frustrated

Have you pulled your CR recently to be sure everything is reporting accurately?


Starting Score: 524
Current Score: 715
Goal Score: 720


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Valued Contributor
Posts: 1,453
Registered: ‎04-14-2012
0

Re: Beyond Frustrated

Here is a link to some great information to help you.

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-101-START-HERE/m-p/8169/hi...

 

Where are you getting your scores? FICO or FAKO scores?

Have you looked at your report to make sure some incorrect information is not being reported?

Can you give us a better insight to what is on your report?

Late Payments?

Average age of accounts?

When was your last account opened?

*8/10/13
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Established Member
Posts: 24
Registered: ‎02-14-2013
0

Re: Beyond Frustrated

Sorry in my first few sentences that should read      *Isn't helping*

 

Yes, I receive my reports from Identity Guard every month on the 17th and look at them with a fine tooth comb. Nothing out of the ordinary is appearing. I did have a Portfolio Recovery pop up last week (my lender said not to worry about that - plus we can't dispute anything going forward)

 

But I do pay everything on time - also just to verify instead of reporting everything at zero leave one card from both of us (2 total) or just 1say CO which we he is an AU with that 9% utilization? 

 

I'm sorry if these are dumb questions, but thank you all so much for giving your input.

 

My Scores:
Equ: 575 (11.2011) 631 (09.2012) 646 (12.2012) 652 (01.2013)
Exp: 524 (11.2011) 573 (09.2012) 633 (12.2012) 629 (01.2013)
TU: 520 (11.2011) 601 (09.2012) 636 (12.2012) 641 (01.2013)
My Husband:
Equ: 530 (11.2011) 584 (09.2012) 600(12.2012) 599 (01.2013)
Exp: 529 (11.2011) 590 (09.2012) 621 (12.2012) 616 (01.2013)
TU: 550 (11.2011) 608 (09.2012) 629(12.2012) 626 (01.2013)
Regular Contributor
Posts: 127
Registered: ‎03-07-2013
0

Re: Beyond Frustrated

Each of you should have one card with a low balance and the rest at zero.

 

 

Established Member
Posts: 24
Registered: ‎02-14-2013
0

Re: Beyond Frustrated

Thank you.

 

Is there any need to worry about those with a zero balance possibly closing by the creditor? Or should they be used - then paid off before billing cycle ends?

My Scores:
Equ: 575 (11.2011) 631 (09.2012) 646 (12.2012) 652 (01.2013)
Exp: 524 (11.2011) 573 (09.2012) 633 (12.2012) 629 (01.2013)
TU: 520 (11.2011) 601 (09.2012) 636 (12.2012) 641 (01.2013)
My Husband:
Equ: 530 (11.2011) 584 (09.2012) 600(12.2012) 599 (01.2013)
Exp: 529 (11.2011) 590 (09.2012) 621 (12.2012) 616 (01.2013)
TU: 550 (11.2011) 608 (09.2012) 629(12.2012) 626 (01.2013)
Valued Contributor
Posts: 1,453
Registered: ‎04-14-2012
0

Re: Beyond Frustrated

Yes, since you are both on Capital One you can let it report between 1% and 9%. Just do not report everything as $0

 

Portfolio Recovery? I am assuming a collection account? If that is new you can take a HUGE hit in your score for that. 

*8/10/13
Valued Contributor
Posts: 1,453
Registered: ‎04-14-2012
0

Re: Beyond Frustrated


christinam77 wrote:

Thank you.

 

Is there any need to worry about those with a zero balance possibly closing by the creditor? Or should they be used - then paid off before billing cycle ends?


You do not need to worry about that unless you allow them to be inactive for 6 months or more.

*8/10/13
Regular Contributor
Posts: 125
Registered: ‎03-10-2007
0

Re: Beyond Frustrated

Where are you getting your scores from?




Starting Score: 605 (Experian); 588 (Equifax); 590 (TransUnion)
Current Score: 626 (Experian); 667 (Equifax); 670 (TransUnion)
Goal Score: 800

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