10-12-2012 11:56 AM
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 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.
10-12-2012 05:05 PM
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?
10-12-2012 07:06 PM - edited 10-12-2012 07:06 PM
Nice name btw 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
Public record 0
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
10-12-2012 07:13 PM
Cap one opened 12/10
Cap one 4/10
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
10-12-2012 07:47 PM
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?
10-12-2012 08:51 PM
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!
10-12-2012 09:03 PM
Oh cool thanks I'm going to write to Macy's / Bloomingdales and try and get those 2 30day late marks off.
10-15-2012 03:43 PM
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.
10-15-2012 04:15 PM
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.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO