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Registered: ‎04-25-2011
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Re: Doing too much "good" looked at as "bad?"


ccubedzx3 wrote:

Lasardo wrote:
Did I not see a I installment loan? I.e... Car loan or a "credit builder" account. I ask because I know that an installment loan is the next best thing to a mortgage. If you do not want a car loan I found a "credit builder' account. You can have up to 5k.I pay 84 a month for 2k that is available to me in 2 years ($44 for 1k) It posted to my account as a Positive and boosted my sore 30+ points. If you want the info I will PM you..
Lasardo, thank you for the suggestion! I have not heard of a "credit builder" account. Can you tell me more about it? Is it a loan, or something where you pay your own money back into account that becomes available funds. I'd like to learn more. Thanks to all of you who have responded!!! I love open lines of communication, unfortunately friends and family do not have first hand knowledge of this particular topic. You have all helped so much! Happy Fathers Day to all the fellow Fathers out there like myself!, enjoy YOUR day!!


I don't disagree with Lasardo's recommendation, but you already have multiple installment accounts; you wouldn't need this loan really. This would be relevant if you had a poor mix of credit, but if you are able to get some of those lates removed, the negative trade lines might become more positive; you already have a good mix showing.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
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Re: Doing too much "good" looked at as "bad?"

I'm certain you'd loose points if you add another loan, though most or all would return within a year. I bet you wouldn't see a net gain, though.

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Re: Doing too much "good" looked at as "bad?"

I would lov


Lasardo wrote:
Did I not see a I installment loan? I.e... Car loan or a "credit builder" account. I ask because I know that an installment loan is the next best thing to a mortgage. If you do not want a car loan I found a "credit builder' account. You can have up to 5k.I pay 84 a month for 2k that is available to me in 2 years ($44 for 1k) It posted to my account as a Positive and boosted my sore 30+ points. If you want the info I will PM you..


e to have the "credit builder" info as well, please pm me..

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Registered: ‎04-30-2012
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Re: Doing too much "good" looked at as "bad?"

Scott- You don't think my score will drop if the Barclays account is removed? Do I ask them to delete my account history since it was paid in full? I just want to make sure I word it correctly so I do more good than harm. I need to get my score to 640 by December to get "pre-approved"... Then we would technically close in June of 2013 because we are looking at new construction and there is a 6 month build out...hopefully by the time we close, my score would be high enough to get a decent rate.....I've learned my lesson, just want all my money decisions to have surgeon type precision. Thanks for the tips!!

Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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Posts: 2,660
Registered: ‎04-25-2011
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Re: Doing too much "good" looked at as "bad?"


ccubedzx3 wrote:
Scott- You don't think my score will drop if the Barclays account is removed? Do I ask them to delete my account history since it was paid in full? I just want to make sure I word it correctly so I do more good than harm. I need to get my score to 640 by December to get "pre-approved"... Then we would technically close in June of 2013 because we are looking at new construction and there is a 6 month build out...hopefully by the time we close, my score would be high enough to get a decent rate.....I've learned my lesson, just want all my money decisions to have surgeon type precision. Thanks for the tips!!

Well, in my opinion, any account with that many lates, including multiple 90 day lates, is doing more harm than the good that comes from the AAoA with it.

 

I'll let others chime in but I think it should be removed if possible..

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Regular Contributor
Posts: 171
Registered: ‎04-30-2012
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Re: Doing too much "good" looked at as "bad?"

Just called Barclay's/Juniper Bank to get the mailing address in regards to writing a GW letter.   When I was asked the nature of inquiry, I told the rep my issue and how I was hoping they may remove my account, or my lates from my account.  He made it sound like I had such an odd request, and any thought of writing to dispute this would be a waste of time.  I am a little flustered, but i'll attempt sending one anyways.  We shall see how it goes...

 

 


Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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