Reply
Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

The latest...

Finally got the new green Cap1 cards, and even though the CL is 10k, they are MC, not Visa sig :-(  On the upside, my Fico EQ is now 724.  Yaay.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

Re: The latest...

So, turns out the Jeep that I bought almost new with 18k miles was not as sweet as I thought.  The previous owner somehow damaged the roof, hood, and door tops, and covered it up with a bad paint job before trading it in.  Long story short, it cracked apart and was coming off, so I negotiated with the dealer to take care of me.  They offered to pay half of a repaint, or work out a trade deal.

 

Since I don't know what else may go wrong, I went ahead with the trade deal; it worked out ok.  I stepped up a bit, and now have a 2012 pickup, financed with a 2.9 rate from a local CU.  They had room in the deal with it being one model year back, and gave me extra trade allowance to account for the lost value in the paint.  I think they probably still made money on the deal, but my end of it looks good too.

 

I was also approved for a shorter term at 1.49 from Penfed, but the payment would have been a hundred bucks higher so I held off.  We have a threshold we try not to go over so we can meet the expenses if one of us ends up unemployed.

 

Instead, I refi'd wifey's car to the 1.49 for 60.  We'll pay extra on the truck as long as we have it, and refi that down to 1.5 in six months or so when the minimum payment can be lower.

 

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

Orchard AF Gone FOREVER!

More from the Cap1 executive team.  I talked to the exec rep, and she is looking into making my Green card into a World MC.  Nice.  She also gave my number to the Orchard exec office, who called me promptly, and removed my annual fee forever.  Sweet.

 

She said they still can't PC the Orchard Cards, and are not able to do CLI, but losing the AF means I can keep my oldest CC active until that changes.

 

Merry Christmas to me, from Capital One.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Frequent Contributor
rightcoast
Posts: 278
Registered: ‎12-10-2012
0

Re: CREDIT REBUILD PROJECT LOG

Did that Verizon wireless fall off yet. If not, I was lucky enough to get a settled than less than full collection taken off. I can help u out.

Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

Re: CREDIT REBUILD PROJECT LOG


rightcoast wrote:
Did that Verizon wireless fall off yet. If not, I was lucky enough to get a settled than less than full collection taken off. I can help u out.

No, it is still there - I am very interested in how you got that done, please share.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

Re: Orchard AF Gone FOREVER!


p- wrote:

More from the Cap1 executive team.  I talked to the exec rep, and she is looking into making my Green card into a World MC.  Nice.  She also gave my number to the Orchard exec office, who called me promptly, and removed my annual fee forever.  Sweet.

 

She said they still can't PC the Orchard Cards, and are not able to do CLI, but losing the AF means I can keep my oldest CC active until that changes.

 

Merry Christmas to me, from Capital One.


Got a call back from Capital One, turns out the World MC stuff is reviewed automatically and I will be converted soon...

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

2013 Credit Goals

I responded to another post and decided elaborate on my credit goals for 2013:

 

1.  App before the end of Jan for an Amex BCP or BCE.  If not approved, do nothing else with AMEX until JAN 2014.  Must be patient!

 

2.  Product change from Freedom or app for Chase Sapphire Preferred in JUNE.  Hopefully I can PC, my total # of cards is about right and I'd rather not add or hurt my AAOA.  I will probably call the backdoor analyst # for that PC request.

 

3.  Upgrade from Cap1 Cash to World Mastercard.  The exec rep promised this would happen at the next review, but didn't say when exactly that would be.

 

4.  PC Orchard card to another TBD Capital One product.  I expect this to occur in Q2, AF is already removed forever.  I would love to keep the history on that card but convert to prime.

 

5.  Pay down truck loan enough to refi to 1.49 with Penfed by JUNE.  Right now it is 2.99 for 72; If I pay aggressively I should be able to refi to 60 by June.

 

6.  Happily watch Verizon's paid collection age off of my Exp report.  Finally.  Profanity can not describe how frustrated I am with that one.

 

7.  Minimize inquiries and learn to actually GARDEN.

 

Goal scores for 2013: 

 

Break 750 on all 3 by end of year.

 

Goal Cards:

 

 

 

 

 

 

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Regular Contributor
mahiven
Posts: 176
Registered: ‎04-19-2011
0

Re: 2013 Credit Goals

Have you considered refinancing your mortgage?



03/19/2011 EQ: 627 EX: 602 TU 590 (lender pull) 07/16/2011 EQ: 646 EX: 629 TU 647 Fell off the wagon in 2012. Starting over in 2013.Current Score: 01/07/2013 EQ: 646 EX: ??? TU 608 Goal Score: 700 club

Take the FICO Fitness Challenge
Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

Re: 2013 Credit Goals


mahiven wrote:

Have you considered refinancing your mortgage?


I have...  My LTV is too tight for a conventional loan; I looked into an FHA streamline, but I missed the cutoff for the grandfathered PMI rate, so the new high rates wipe out any gain from the interest going down.  

 

If rates go down any farther, the streamline pencils out as worth it.  Otherwise, all I can hope is that housing prices climb before interest rates.  If that happens I will take advantage.

 

Who new I would ever have a chance to improve a 4.5% 30 year fixed?

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
0

2013 Credit Goals - REVISED


p- wrote:

Credit goals for 2013:

 

1.  App before the end of Jan for an Amex BCP or BCE.  If not approved, do nothing else with AMEX until JAN 2014.  Must be patient!

 

2.  Product change from Freedom or app for Chase Sapphire Preferred in JUNE.  Hopefully I can PC, my total # of cards is about right and I'd rather not add or hurt my AAOA.  I will probably call the backdoor analyst # for that PC request.

 

3.  Upgrade from Cap1 Cash to World Mastercard.  The exec rep promised this would happen at the next review, but didn't say when exactly that would be.

 

4.  PC Orchard card to another TBD Capital One product.  I expect this to occur in Q2, AF is already removed forever.  I would love to keep the history on that card but convert to prime.

 

5.  Pay down truck loan enough to refi to 1.49 with Penfed by JUNE.  Right now it is 2.99 for 72; If I pay aggressively I should be able to refi to 60 by June.

 

6.  Happily watch Verizon's paid collection age off of my Exp report.  Finally.  Profanity can not describe how frustrated I am with that one.

 

7.  Minimize inquiries and learn to actually GARDEN.

 

Goal scores for 2013: 

 

Break 750 on all 3 by end of year.

 

Goal Cards:

 

 

  


Item 1 - bumped to 2014 - Garden mode ACTIVE.

 

Item 2 - still in play - need to look into using Chase Exec Office for the Sapphire PC, heard I can make that a soft inq.  Wait for June to optimize inquiries.

 

Item 3 - Thinking I'll wait for June then hit up the C1 EO and ask again about World MC.

 

Item 4 - Still no word on the Cap1 takeover of Orchard.  Looking forward to that possible PC.

 

Item 5 - Paying aggressively - trending to be able to refi in 6 months but may hold until mortgage question is decided.

 

Item 6 - I wonder if they would respond to a lawsuit, and if it's worth the hassle?

 

Item 7 - Mortgage app this year still a possibility, so it's definitely time to hang out in the garden.

 

Goal scores:  750 plus on all 3 cb's

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}