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Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Fixing bad credit

Hey guys, I have bad credit more or less, I had 2 defaulted cap 1 cards in 2004 or 05, they werent charged off till 08. I HAD then opened 8 credit cards, 2 orc bank (one was secured), a credit one, 2 cap one and a first premier bank, macys and bloomingdales. Since about a year ago I paid them off and closed most of them. As of last month I had kept open 2 cap one cards and my bloomingdales, I have just closed the bloomingdales card last month. Also i have a charge off with att from summer of 11 for $1100. I have revolving with cap one about 450/500 and 700/750. I am currently trying to pay off the $450 and close that card asap (within 3 months). My girlfriend is a couple of years older then me and has excellent credit (21.5k on a true earnings amex) + Boa etc. I got added as a AU on the amex. I am hoping to try and get backdated with her 93 opening account date :smileyhappy: I want to pay off my cap one cards and MAYBE keep one open. I want to use this AU to build a good relationship with Amex. What should my next move be. My utilization is also going to remain high, there is like 20k used on that card for the next 3 months till it gets paid off.


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
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Established Member
yo-upacreek
Posts: 29
Registered: ‎02-17-2011
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Re: Fixing bad credit

Hi DeC welcom to the forum.

Have you pulled your CRs and scores? The Cap 1 from 2004 & 05 Should no longer be reporting. Don't close cc acounts as you pay them off this will shorten the age of your credit, also paying off will help your UTI, better to just put them in your sock drawer or to charge something small every couple of months and pay off immediately this will keep them from being closed due to inactivity. Also If your SO should ever take you off of her cards you will need some accounts with age or your score will drop. You don't give any info on the cc accounts ei: condition, dates opened, if any lates. Is your ATT paid?    

Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Re: Fixing bad credit

[ Edited ]

Nice name btw :smileyhappy: yes I just checked finally the old cap ones are off. (as of march they were still there) my Macy and Bloomingdales show one 30day late 11 months ago,  both current cap one cards are paid ok past 2 years. Currently have 6 closed and paid. Two accounts in collection, a sprint acct which is paid. I called enhanced credit and they said paid as of jan 2012 $533.  It has $0 balance acct paid less then full. And AT&T showing a balance of $966 when they call they told me I owe $1200. 

 

Total accts 10

Open 3

Closed 7

Delinquent 0

Derogitory 2

Balances $2256

Public record 0

13 inquires

 

Transunion shows a credit score of 595. The amex didn't post to my credit report yet. I would like to ditch the $500 limit cap one but im not sure. I would like a blue cash everyday so I'm trying to get my foot in the door with American express and rebuild my credit

 


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
Goal Score: 720

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Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Re: Fixing bad credit

Cap one opened 12/10

Cap one 4/10

Macy's 4/10

Bloomingdlaes 5/10

First premier 4/09

Credit one bank - 12/08

Orc bank 5/08

Orc bank 2/08 (secured)

I dumped all the cards due to having $35-$75 annual fees. My one cap 1 plat has a $35 annual fee that they waived for me. 

AT&T  collections opened 5/12

Sprint collection opened 9/11 paid 01/12


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
Goal Score: 720

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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Fixing bad credit

Don't close any more cards!!!!!!   It doesn't help your credit one bit, as a matter of fact, it hurts it.  Pay down the utility on your cards.   Try to PFD the ATT account, is that the only one not paid?


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Re: Fixing bad credit

What's PFD? My 2 current cap one cards have at least 90% used


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
Goal Score: 720

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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Fixing bad credit

Let's start from the beginning. 

 

Hello and Welcome to the forums!

 

Below you will find some links to help you navigate your way around here.  There is a link for common abbreviations you will find here, then there is a link that explains DVs and PFDs.

 

The last link is for GWs.  This is for paid accounts.  Read up a bit on them and then post your questions on here.  Good Luck!

 

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...

 

 

 

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Re: Fixing bad credit

Oh cool :smileyhappy: thanks I'm going to write to Macy's / Bloomingdales and try and get those 2 30day late marks off. 


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
Goal Score: 720

Take the FICO Fitness Challenge
Established Member
DeC
Posts: 18
Registered: ‎10-12-2012
0

Re: Fixing bad credit

Hello, I have requested a letter from erc on a paid debt, whats the difference from settelled in full vs settlement payment? It was $533 they took $436 from me and on my TU report it says balance $533 - Paid / $0 balance.


Starting Score: TU 594 - EX 550
Current Score: TU 594 - EX 550
Goal Score: 720

Take the FICO Fitness Challenge
Established Member
yo-upacreek
Posts: 29
Registered: ‎02-17-2011
0

Re: Fixing bad credit

A PIF(paid in full) and Settled for less is $436 instead of $533. It still is treated the same by FICO, but looks better on a manual review of your CR. Did you negotiate a PFD if the account is closed? If closed you may want to send a GW letter to ask for a deletion of the entry.


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