Direction in Rebuildng Credit and Debt

[Anonymous]

Hi new user here.

Have a Credit Karma account and according to CK my credit score is 683. Was pre approved for a PNC Bank cash back credit card with a $13k credit limit. PNC sent me in the mail my Experian credit score which is 663. Since I started with CK my score has gone up pretty well.

I'm in the process of rebuilding my credit score with stuff that happened 7 years ago.

For the past 7 years I've been using a Capitol One credit card that has had a small $500 limit. I haven't used it much in the past 7 years but when I do I pay off balance. I got this credit card about a year after the bad debt as a credit builder. It has a yearly $59 fee.

I decided to try to get a cash back credit card because the cash back is 1.5%. I DON'T need the $13k limit. I figured I can pay most of my montly bills with the cash back credit card and get 1.5% back.

I currently have a couple of judements from bad debt that I'm paying off. Been paying the 2 creditors $100/month consitently for he past 5-7 years. One creditor as I can see is OK with this as the balance is now $1700 and hasn;'t done anything. The other credior a couple of times got a court order to get money from my bank account but hasn't in about 1 1/2 years. Between paying off the 2 creditors I'm paying a total of $200/month whcih is what i can afford.

I'm trying to rebuild my credit and pay off the 2 'judements' at the same time. Within the 7 years I haven't applied for a credit card except for the Capitol One one.

I guess my question is a couple of issues...

I was somewhat disappointed that my Credit Karma score was 683 but my Experian score sent by PNC is 663. Trying to rebuild my score and I'm dissapointed in this the 20 poinr difference. But aslo happy that I was approved for what I think is a major type of credit card from a bank.

The other issue is the creditor that has gotten to my bank account in the past but hasn't in around 1 1/2 years.

Any suggestions and directon with the above?

Also what's the best way to find out if I have other debts out there and if there is I want to make payment arrangemets?

Thanks!

[Anonymous]

You need to pull your credit reports from all 3. If you haven't yet, go to annualcreditreport.com and pull all 3 for free. This will show you what is on there besides the judgements. Those judgements are killing your score.

[Anonymous]

thanks. Since I just got approved for the cash back credit card wouldn't that bring my score down a bit? And if I get from annual credit report won't that bring my score down?

Is Experian 663 good, bad or in the middle? Credit KArma score is 683 which I think is Trans Union.

[StartingOver10]

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@Anonymous wrote:

thanks. Since I just got approved for the cash back credit card wouldn't that bring my score down a bit? And if I get from annual credit report won't that bring my score down?

Is Experian 663 good, bad or in the middle? Credit KArma score is 683 which I think is Trans Union.

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If you check your credit report at annualcreditreport.com it does NOT bring your score down. You are getting a consumer report. You are entitled to one from that site from each of the three CRA's each year to check your report accuracy. The report is free. Don't fall for the monitoring bit they try to rope you into purchasing and don't buy your scores there either.

The credit Karma score is useless. It means nothing sense the banks don't use that score to determine credit worthiness at all.  I will say the Credit Karma site it good for checking how your individual accounts report (balances etc). Use it for checking the report and not for the score you see.

[Anonymous]

If a 663 from Experian isn't good why did PNC bank approve and give me a cash back credit card with a $13k limit?

[gdale6]

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@Anonymous wrote:
If a 663 from Experian isn't good why did PNC bank approve and give me a cash back credit card with a $13k limit?

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Fico score approx ranges and where you fit in

<630: Bad credit

630-689: Fair (average) credit

690-719: Good credit

720-850: Excellent

[Anonymous]

I like the $20 month plan here. When you start it you get your 3 reports and you get to monitor any changes to your credit including inquiries

[Hokies2379]

The fact that you have scores close to 700  on any score, fako or fico, with having two judgments is surprising. Consider yourself lucky and keep doing what you're doing. 

[Anonymous]

My Experian score is 663. Is that considered a FICO score and close to 700? PNC Bank sent me my Experian score.

[Hokies2379]

It's a considerably better score than you should have with two judgements.