Capital One Credit Steps increase while rebuilding

[ls2016]

My 6th Capital One QS statement cut on 12/28/16. My credit steps' increase was added today 12/29/16. Went from $600 to $1,100 ($500 increase). I'll take it considering I have approx. 13 negative items on my report that I'm having no luck in having removed at all. My 19-year-old daughter also received her QS credit steps' increase today as well ($400 to $750, an increase of $350). We do not carry a balance and pay in full every month before the due date.

[Anonymous]

---

@ls2016 wrote:

My 6th Capital One QS statement cut on 12/28/16. My credit steps' increase was added today 12/29/16. Went from $600 to $1,100 ($500 increase). I'll take it considering I have approx. 13 negative items on my report that I'm having no luck in having removed at all. My 19-year-old daughter also received her QS credit steps' increase today as well ($400 to $750, an increase of $350). We do not carry a balance and pay in full every month before the due date.

---

Congrats on the increase. Sometimes it is hard to get baddies removed (i.e. Midland Funding).  Sometimes they just have to age off.  Continue to maintain good payment history and if a company refuses to PFD, sometimes it is better to just pay off the collection if it continues to update monthly.  I came to the conclusion that until I settled my delinquent accounts, my credit was not going to get better.  Once I paid off the collections, then the approvals started happening.

[ls2016]

Thanks KayKay.

All collections are paid with the exception of one with Portfolio Recovery. That collection will be paid in full by March 2017. I have 3 collections with Portfolio and of course, they wil not delete. I started getting approvals once I paid off the collection accounts. I have 3 years before 10 of them will fall off. Seems like such a long time, but I know I have to be patient as I'm the one that got myself into this mess. I've been getting approvals, but mostly toy limits. My current FICO 8 scores are Ex. 627, Tu. 639, Eq. 642. I started my rebuild in June 2016 where my FICO scores ranged from 551-557, so I'm making some progress. I have 8-10 inquiries across all 3 CRAs acquired all this year (2016), so I'm off to the garden to allow my very new accounts to age.  

[Anonymous]

---

@ls2016 wrote:

Thanks KayKay.

All collections are paid with the exception of one with Portfolio Recovery. That collection will be paid in full by March 2017. I have 3 collections with Portfolio and of course, they wil not delete. I started getting approvals once I paid off the collection accounts. I have 3 years before 10 of them will fall off. Seems like such a long time, but I know I have to be patient as I'm the one that got myself into this mess. I've been getting approvals, but mostly toy limits. My current FICO 8 scores are Ex. 627, Tu. 639, Eq. 642. I started my rebuild in June 2016 where my FICO scores ranged from 551-557, so I'm making some progress. I have 8-10 inquiries across all 3 CRAs acquired all this year (2016), so I'm off to the garden to allow my very new accounts to age.  

---

I had the same problem with Midland, but it could be a coincidence that the accounts fell off 6 months earlier than scheduled, so I wonder if the CFPB consent order against them and PRA had somehting to do with it. 

[ls2016]

My account with Midland was removed from all 3 CRAs 3 years early. I've also read from peope on here that after 2 years and with a paid account, Midland will remove the collection account. I'm guessing this is what happened with me. Now if Cavalry and Portfolio would get on board, that'd be awesome. I was able to get Cavalry removed from Equifax and Transunion, but Experian won't budge.

[Anonymous]

Congratulations on your and your daughter's Credit Steps increase. You are making great progress! 

[ls2016]

Thanks Bella. I'm trying really hard to make better financial decisions and trying to teach my daughter along the way. She's a thrifty shopper and very tight with money. Hopefully, she will remain this way. Thanks for the support!

[Anonymous]

---

@ls2016 wrote:

Thanks Bella. I'm trying really hard to make better financial decisions and trying to teach my daughter along the way. She's a thrifty shopper and very tight with money. Hopefully, she will remain this way. Thanks for the support!

---

You're welcome! That's awesome that you are teaching her! One really great thing about the forum here, is that there are so many awesome people that have offered me really helpful advice or just a word of encouragement. We are all on this journey together, in a sense.