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I'll spare everyone the backstory—basically just irresponsible with credit in my 20's. I'm looking for some advice on where to go next, I've been lurking this forum for awhile now and have found it extremely valuable (and civil). Financial situation is as follows: I have $0 in debt, $75k/year gross pay, just paid off my auto loan (on time, didn’t PIF early) and my rent/bills equate to ~$1,200 a month. Apologies in advance, this is a long post.
All scores and information below are taken from a MyFICO 3-score pull dated 03/26/2014
Overall Information
EQ(FICO): 664 / TU(FICO): 647 / EX(FICO): 647
Age of Accounts:
EQ: 4 / TU: 2 / EX: N/A
Inqueries:
01/2014 - BAC pulled EX for an unsecured card, was denied
11/2013 - Capital One pulled all 3 for my unsecured, success
08/2013 - BAC pulled EX for secured, success
08/2013 - AMEX pulled EX for unsecured, denied.
FICO Score Ingredients notes:
EQ: Payment History – Not Good, Debt Amount – Great, Length – Good, New Credit – Good
TU: Payment History – Not Good, Debt Amount – Great, Length – Not Good, New Credit – Good
EX: N/A (doesn’t show anything)
Current revolving accounts as of 3/26/14:
BAC Secured
Last report to CRB: 3/26
Util/Limit: $0/$300
Opened 8/2013
0 lates, 0 derog, 0 anything bad
Notes:
No updates to TU at all on this card, which worries me.
Had this PC'd to the student version of the Travel Rewards in December, shows as secured in my report but I'm not worried about that, hopefully will graduate to unsecured once it hits the 1 year mark, I'll attempt an early graduation request around June of this in or around 2014.
Capital One Platinum (non-secured)
Last report to CRB: 3/19/14
Util/Limit: $25/300
Opened: 11/2013
0 lates, 0 derog, 0 anything bad
Notes:
None, Capital One has been pretty great, reports to all three, posts payment quickly. Not expecting much in terms of CLI from them but it’s been great as a rebuilding tool.
Installment loan – Auto:
Opened: 01/2012 for 36 months @ $5,000 financed
0 lates, 0 derog, 0 anything bad
Just made the final payment last month, have PIF letter, stamped contract, etc. Received the pink in the mail last week.
EQ – last status 12/2013
TU – last status 11/2013
EX – last status N/A
Notes: Neither EQ or TU show payment status reports in my “Payment Timeline”, only EX does and it’s perfectly green across the chart. All CRB’s report good standing/paying as agrees. I’m sure this TL will get updated to PIF/closed within the next few months.
CLOSED Accounts – Problems and Derogatory Items:
Capital One Platinum (secured)
Charged Off 10/2013 – limit $300
30 day: EQ – 1, TU – 0, EX – 1 (12/2011)
60 day: EQ – 1, TU – 0, EX – 1 (01/2012)
90 day: EQ – 3 (03/2012, 05/2012, 02/2012), TU – 0, EX – 19 (02/12 – 09/13)
Worst Deliquency: EQ – 120+ late, TU – none, EX – Collection
Remarks: EQ – Closed @ Consumer Request + paid charge off, TU – Account closed by credit grantor, EX – Closed @ consumer’s request.
Notes: I paid this off (stupidly) via collections in 10/2013 without attempting a PFD or anything else.
BAC (non-secured)
Limit $1000
Closed in 04/2009
30 day: EQ – 1, TU – 0, EX – 1
60 day: EQ – 1, TU – 0, EX – 1
90 day: EQ – 10, TU – 0, EX – 10 (12/2008 being the last)
Worst delinquency: EQ – 120 day, TU – none, EX – 180+ day
Remarks: EQ – Closed @ consumer request, TU – none, EX – Closed @ consumer request
Notes: Paid via collections in 04/2009, did not attempt PFD or anything else.
Collection:
Charter Communications/Credit Management LP
Closed 12/2009 – Paid Off
Notes: Should have PFD, collections issue is Charter’s fault – equipment was returned as requested yet I was still charged for it.
Where to go next?
Thanks in advance to anyone willing give any feedback on this extremely long post.