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05-01-2013 09:21 PM
05-02-2013 03:06 AM
First premier will almost certainly NOT PFD. You may be better off trying to pay less, and having them agree to that being paid in full.
I don't think they were trying PFD First Premier, but were going to apply for CC with them.
05-02-2013 03:08 AM
The scores I got were directly from the Experian website.I paid to have all three agencies reort my score and my delinquencies and inquierys. As for the ollections amount i paid today, I didn't ask to have it removed, he said they would just update on the weekend. Is it too late to call them now and ask to have it removed completely or should I try the GW letter?
most of them say they can't on the phone even though they can. you could try. seems better to send a letter. they have sample GW letters on this site
05-02-2013 03:14 AM
Oh I see myself in you. I was similar. I had some financial issues and I went to the opposite extreme thinking not using credit and only using cash was the way to go. I mean all the commercial you see etc say no debit=good. Well tha tis true if you still have credit. Yes it is a bit confusing.
So how to come back. Let me telll you my story in the short form.
It was last year when I wanted to buy a new bed and wanted to finance it. First time to finance anything in 3 years I thought I haven't used any credit I should get approved easily all of my collectiosn were paid the only issue on my cr was a 3 year old forclosure that well you can't remove. Denied so I started the research and found lots of good advice including this site.
first thing I did was get my REAL score. I wa shocked to find it in the 500's. So what was there I could do something about. Remove the paid collections. I had 3 showing after GW and disbuting with CRA I got them all removed my score went up to low 600. At that point I was able to get a CC with Cap One. After it reported my score went up to mid 600's. After a few months of keeping the utilization below 10% bam high 600. So to now I am getting even greedier with the score I researched and found I can get paid fed tax liens removed. I am in that process now. Although this may not raise my score (based on research) it will make the report cleaner and my same score will mean more to lenders and since I wsnt to buy a home in the next 9 months I will take a 690 with a clean report over a 695 with baddies onit.
So my point is a plan for you I would reccomend
1. Start GW the collectionns
2. if they don't work try Disbuting them
3. Start tracking your score and report at least monthy
4. Try for a secured card and work up the credit pyramid
5. Keep reading thse forums they are quite instructional and helpful
05-02-2013 05:16 AM - edited 05-02-2013 05:57 AM
OP, the exp scores are fakos. You're probably in the 550's as fico goes.
*edit: (on computer finally)
Since you've paid some CA's without the mentioning of PFD, you always have the follow up with good will letters. Some, more often than not, are more successful with the GW's, instead of making a CA agree to PFD.
As far as rebuilding/establishing a functioning tradeline (cc), instead of trying to get a FPrem card, try to get in with a baseline fee secured card, since you'll get the money back, once you ever decide to close/move on up. FPrem fees are pretty much what it takes to open a secured CC anyways. Check out opensky, or first progress. One has a monthly fee/no grace period. The latter (I've used on rebuild) has a yearly AF, and a grace period for charges, if PIF at billing statement.
05-02-2013 06:56 AM
Agreed on the FAKO's.....
Get the collections off, find a secured card (credit union perhaps), then go for those rebuilders or builder cards like First Premier, Fingerhut. Move to Cap 1, then a store card or two. After a year or two, you can begin to app for better cards. Whatever you do during this process.....NO LATES! Keep 9% reporting, the rest PIF.
Can someone add you as an AU on their account to assist you in building?
05-04-2013 11:57 AM
Just wanted to update on the status of things.
So apparently I have actually been approved for both the Bank of America secured card ($300 CL) and the Capital One card (they need proof of income first). I also just got approved - after much haggling and threats that I will go elsewhere - for my first car lease!!
Now it's a matter of paying everything on time and being super on top of my bills so I can start the process of rebuilding. I still need to get a hold of my FICO scores too so I can keep track of the improvements.
I will pay off the 2 collection agencies and have that written off my account by the end of this summer, and hopefully with a car lease and 2 secured credit cards the future looks brighter than it did several days ago.
Thank you all for your helpful suggestions!