01-06-2013 04:36 PM
A foreclosure is a major derog that will keep your scores in a "dirty bucket" until it falls off. Once it's gone, you will have room to grow.
01-06-2013 04:40 PM
Your math is correct. No, I am not looking to make a major purchase but should a home become available, I would like to maybe get a home. No problem getting vehicles because I have a great bank relationship and they give me low interest rates. I guess the main thing is joining the 760 or 800 club so I won't have to sweat it when trying to get a new good credit card.
01-06-2013 04:43 PM
Thanks Shogun. About how many points will I get with that clean bucket? I realize there are lots of variables but do you think 20 points might happen?
01-06-2013 04:47 PM
I believe that's quite possible, and when the CO falls off, presuming that's your last baddie, you may see it skyrocket. I got my last CO off and shot up 80+ points.
01-06-2013 05:00 PM
Thanks for the great encouragement Shogun. Nope, after the CO is gone, I will be totally clean. I'm too old to mess it up again I and stay on top of my finances now. I have 7 credit cards and only carry a balance on one at a time but use all of them. I pay in full a few days after charging. Do you think it is unwise to keep a 2 or 3 percent utilization or should it be 0% utilization? I thought it might help to let a couple of the cards make a few bucks off of me a year.
01-06-2013 05:01 PM
I also had a CO deleted from about the same age as yours and a judgement and i went up over 90 points went into the clean people bucket. For me I have to pay off high cards now due to repairs and slow ins. companies re: the storm and get backdating with amex. for age of accounts then hopefukly I will skyrocket too.!! Just be patient and keep trying anyone with the chargeoff. One letter email or call a week nothing ventured nothing gained. Good luck keep us aprised.
01-06-2013 06:10 PM
Good luck with your credit card utilization. Sounds like you could use a card with a high credit limit to help you out. If you were in the military or you have a family member that was in the military, I have a card to suggest that is liberal in their credit limits. Thanks much for the advice.
01-11-2013 10:56 AM
01-11-2013 11:17 AM
Google USAA. CAll them to see if you qualify. They are very easy to talk with and very friendly.
01-11-2013 11:19 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.