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I need your advice...Where do i go from here

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propertyvirgins
Valued Member

I need your advice...Where do i go from here

 

 

I have just restarted my rebuilding efforfts. after i pulled my credit report and discoverd 75 percent of my negative items have been deleted because its bascially been 6 to 8 years old on most of them.

 

So i applied and was approved for a credit one bank visa. 1/2012. they gave me 300 and since has raised me to 500.

 

so little has changed my score still lingered aroung 585-600. So i applied and received an auto loan WITH EXETER finance.....15% interest., But i really needed a new car and i could afford the payments.......

 

so last month since im scared to apply for anything i decided to try a few secured credit cards...BANK OF AMERICA i did 1,000.00

and First Progess credit card i DID another 1,000.00 and capital one offered me a secured so i did 500.000

 

SInce these card hit my report myFICO is currently 617.

 

what do i do now...I have too many inquires (over 20) MOST are close to two years old..and will fall off...HOW DO I PROCEED...how long do i garden these cards...and whats the next best move...LONG term id love to buy a house....I have 4 baddies on my report....2 are not mine my identity has been compromised while i wasnt checking my credit and the other two are ALMOST 7 years old....U guys help me out.

Message 1 of 7
6 REPLIES 6
RTOrockstar
Frequent Contributor

Re: I need your advice...Where do i go from here

I think you're looking at a good 6 month garden sentence. Your CLs are pretty good for a rebuilder so I think 6 mos. to a year of good history will do wonders for your score.

Message 2 of 7
09Lexie
Moderator Emerita

Re: I need your advice...Where do i go from here

Have you disputed the identity theft baddies?

You have more than enough cc's now. In 1 yr, your BoA should unsecure. If first Progress has monthly fees, I would close it same with credit one. Keep in mind, after 12 mos of history. Do not app for anything until next year. Your inq's will be a yr, your new cc's will be a yr and hopefully if you get the identity baddies off you will be derog free

Good luck!
Message 3 of 7
rebuildingmission2013
Contributor

Re: I need your advice...Where do i go from here

I suggest a trip to the garden for six months, wait for some inquiries to fall off, and then focus to thicken up the credit profile with any better card offers. 

Message 4 of 7
propertyvirgins
Valued Member

Re: I need your advice...Where do i go from here

yes thats what im doing now....its kinda hard things keep popping up and its bveen like an ongoing nightmare...luckily the thiefs uses a VARIATION of my social security number so they have been deleting the items pretty easily...the thief also put about a DOZEN inquiries other addresses ive never lived..so its what i will DO while i GARDEN my cards...the gardening will BEGIN......5/01/2013...im excited to see if my score improves...i have to continuously monitor my credit because if the theft..BUT no more credit cards for ME....lol (for 6 months)lol
Message 5 of 7
09Lexie
Moderator Emerita

Re: I need your advice...Where do i go from here

Message 6 of 7
TimeToRecover
Established Contributor

Re: I need your advice...Where do i go from here

Isn't there a "alert" or something that can be placed by the CRA's that like require verification or sometime.  I know I have read of others having it on theirs.  I would see about getting them flagged so if the thief tries to do something it will flag and should potientally stop the criminal.


Starting Score: 570 ish
Current Score:EX (701) EQ (711) TU (705)
Goal Score: 750
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Message 7 of 7
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