It has been a year and a half of hard work repairing my credit. After a foreclosure in 2004, I had ALOT of default credit cards and medical bills on my CRA's.
With the help of this board and the wealth of knowledge provided here, I feel for the first time in 10 years, I can finally see a light at the end of the tunnel.
After being denied for several SECURED cards a year ago, Capital One gave me a chance. I opened a $500 secured card with them and worked diligently
(weekly) with DV's, PFD's and GW's with all reporting agencies. Last summer I was forced to buy a car when my car of 13 years finally kicked the bucket. Again,
Capital One was the only one who would finance me with a high interest rate of 13.9%. I have made sure to keep my utilization between 10 - 20% which, along with deletions, has consistently raised my credit score.
Just recently, I opened an account with my work Credit Union. They were able to refinance my car at 5.9% interest rate. Approved me for an unsecured card ($1000 limit).
I then contacted Capital One Executive Office and asked if my secured card would ever be graduated to an unsecured card. The lady I worked with was extremely helpful, said that is no longer their policy, but she approved me for an unsecured card ($1000 limit). Lastly, I was shopping online this week and using the "shopping card trick" was able to get approved for a Victoria Secret's card (which can also be used at Bath & Body Works) with $1000 limit. I won't use that one very often, I just tend to buy a lot of Christmas gifts at B&B.
I'm done, time to sit back and garden! I know it's a long drawn out process, but I just wanted people to know that it IS possible! There IS a light at the end. I do have two remaining items on my CRA's. One is and old HSBC card (Midland) and the other is an old account with Verizon. I am continuing to work on those.
Thanks to everyone on this board who offer their advice and share their stories! You truly are a blessing to this community!
Way to go, you have done a great job!!
Congrats!! It gives up newbies hope!!
That is great news! We are just starting as well after a short sale and some medical collections. Just wondering, what is 'shopping card trick'???
Certain stores will pre-approve you with a soft pull on your credit report when you put items in your shopping cart and click purchase. I did research
on what stores and you can find a list here:
Out of pure curiosity, I tried it and it did work! But be careful!!! From what I understand, it can be extremely addicting and you don't want to end
up with too many! I personally did not choose one that I know I would be too tempted to use alot. I know I'll just use it to purchase random birthday/Christmas gifts.
Hope that helps!