HELP GURUS!! WHAT TO DO NEXT??

JamesKnox · ‎09-12-2013

Help from experts needed!!!

What should I do now to continue to raise score...

EQ Fico is now 627

Here's the breakdown:

1 Secured CC - CL $300 - $0 Bal (Brand New Card) -- Going to be sure it reports only $3 at least for the first few months. Closes on 17th.

1 Collection - Todd Bremer Lawson - $281

Average Account Age: 6 years, 1 month

Length of Credit History: 7 years, 11 months

50k student loans -- All deferred. (2 late payments from 2011 when I took a semester off school)

2 Inquiries

What next to boost score!?

Best plan of action? Everyone knows by now...I want Discover IT. So that's my goal right now (along with crossing the 700 mark)

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

RobertEG · ‎09-13-2013

The collection is a major derog.

I assume it remains unpaid. If so, send then an offer to pay in exchange for deletion of the collection from your credit report (PFD).

Once your report is free of major derogs, you should see a score boost.

denver133 · ‎09-13-2013

Looks like the major piece is that collection. As Robert said, try a PFD.

After that, send GW letters for those lates in 2011.

My Cards: CSP: $5,000 // Hyatt: $5,000 // Cap1 Venture: $5,000 // US Bank Plat: $3,500 // Discover: $1,000 // AMEX BCE: $1,000 // Lowes: $5,500 // Furniture Row: $3,500 // Buckle Store Card: $750

Current MyFico Scores: EX 687 EQ 696 TU 687 Gardening from 5/15 till 5/16

JamesKnox · ‎09-13-2013

BUMP

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

Burned2manybridgesB4 · ‎09-13-2013

Combination of deferred SL's, and credit dings puts the brakes on your hopes for high limit primes for the time being. Makes your risk factor look inflated.

JamesKnox · ‎09-13-2013

@Burned2manybridges

Well....aren't you the most positive person on the forum!

But I don't know that I said I wanted a super high credit limit. I'm only looking for my Discover card to be around 2k.

I am simply asking with this thread what step should I take next.

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

guiness56 · ‎09-13-2013

Try a PFD for the collection. That is the main issue right now.

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JamesKnox · ‎09-13-2013

Guiness,

If they don't PFD will it just showing paid give me any sort of real boost?

All the simulators are saying if I have my current $300 card report 1% ($3) I will see quite a boost as well. What are your thoughts on that?

Statement closes on the 17th and I already have exactly 3 dollars as the balance. *fingers crossed*

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000

guiness56 · ‎09-13-2013

Paying a 3rd party collection should never improve your score, though it does happen sometimes.

It can actually hurt if the TL has not updated in a while.

IMO, I never trust those simulators. They are often very wrong.

What is the utilization on that CC now?

Credit Scoring 101
Guide to Common Abbreviations
Other Frequently Requested Threads
Closing Credit Cards
Direct Dispute

JamesKnox · ‎09-13-2013

@guiness

My UTIL is 0 right now. Which I assume isn't good. That's why i'm thinking that if I let this 3 dollars report...it can do quite a bit of help.

Thoughts?

Starting Score: (FICO)(August 29, 2013) 502(EQ) 568(EX) 549(TU)
Current Score: (FICO) (January 28, 2017) 712(EQ) 720(EX) 720(TU)
Goal Score: 720(EQ) 720(EX) 720(TU)
Amex Business Platinum NPSL | Chase Sapphire Preferred $15,000 | Chase Freedom $9000 | Amex ED $1,000 | BofACash Rewards $3100 | Amazon Store Card $4000