Since I've seen a lot of similar post, I decided to join and start my own log for my credit rebuilding journey.
I'm a bit embarrassed to share my low scores. I'm 25, and am just now starting to have a better understanding of how important it is to have good credit.As soon as I turned 18, I opened two CC accounts with Bank of America, and Cap1 and ended up screwing myself after that. I want to clear as much as I can, and any advice you all can give would be helpful!! My goal within the next two years, is to be able to purchase a home, and within the next year, trade-in my vehicle for something new.
I just pulled an updated FICO report, so here's the 411. 
Fico Score 8 - EQ 510 | TU 522 | EX 520
FICO Score 5 - EQ 482 | 528 | EX 491
FICO Score 8 & 5 Auto - EQ 484/477 | TU 508/526 | EX 484/520
Here's what I currently have on my report.
- Kohls CC - $300 CL - previously had 2 missed payments, but just made a payment for more than the amount due.
- Comenity/Victoria's Secret - account in good standing, I pay my bill on time and just got a CLI from $250-$650
- Nordstrom - $500 CL - previously had 2 missed payments, same as Kohls, and just made payment for more than the amount due.
- USAA Secured MC - $250 - I just applied and got approved, so haven't received my card yet.
- Cap1 - account opened May 2011 - charge-off/collections paid balance in full
- Old Navy.Syncb - closed/charged off as bad debt
- Bank of America - opened in 2009 - charged off - Balance on account $1,229.
- U.S Dept of Education - no negatives for this account since payments are deferred to 2018
- GM Financial - account in good standing, pay my bill on time every month
Collections
- Sprint - PAID - and I actually still use them as my service provider. Should I send a GW letter and request to get this mark removed? It is from 2013
- Progressive Insurance - $2,440
- Midland Funding - paid collection. Does this affect my credit? should I sent a GW letter to get this removed?
Do you recommend I apply for another Secured Card? I was thinking maybe Bank of America or Discover. Also, should I increase my CL for USAA?
@Anonymous wrote:Since I've seen a lot of similar post, I decided to join and start my own log for my credit rebuilding journey.
I'm a bit embarrassed to share my low scores. I'm 25, and am just now starting to have a better understanding of how important it is to have good credit.As soon as I turned 18, I opened two CC accounts with Bank of America, and Cap1 and ended up screwing myself after that. I want to clear as much as I can, and any advise you all can give would be helpful!! My goal within the next two years, is to be able to purchase a home, and within the next year, trade-in my vehicle for something new.
I just pulled an updated FICO report, so here's the 411.
Fico Score 8 - EQ 510 | TU 522 | EX 520
FICO Score 5 - EQ 482 | 528 | EX 491
FICO Score 8 & 5 Auto - EQ 484/477 | TU 508/526 | EX 484/520
Here's what I currently have on my report.
- Kohls CC - $300 CL - previously had 2 missed payments, but just made a payment for more than the amount due. Two 30's? or 30 and 60? How recent?
- Comenity/Victoria's Secret - account in good standing, I pay my bill on time and just got a CLI from $250-$650
- Nordstrom - $500 CL - previously had 2 missed payments, same as Kohls, and just made payment for more than the amount due. How recent?
- USAA Secured MC - $250 - I just applied and got approved, so haven't received my card yet.
- Cap1 - account opened May 2011 - charge-off/collections paid balance in full How recent was this paid?
- Old Navy.Syncb - closed/charged off as bad debt
- Bank of America - opened in 2009 - charged off - Balance on account $1,229. This needs to be settled for scores to rebound.
- U.S Dept of Education - no negatives for this account since payments are deferred to 2018
- GM Financial - account in good standing, pay my bill on time every month
Collections
- Sprint - PAID - and I actually still use them as my service provider. Should I send a GW letter and request to get this mark removed? It is from 2013 Yes.
- Progressive Insurance - $2,440
- Midland Funding - paid collection. Does this affect my credit? should I sent a GW letter to get this removed? Yes
Do you recommend I apply for another Secured Card? Possibly, but might not be necessary. I was thinking maybe Bank of America or Discover. BofA will be a no-go until they are paid in full. They have a long memory and tend to hold a grudge. Also, should I increase my CL for USAA? No.
First priority is to get the BoA balance paid/settled so it reports a $0 balance. Until that happens your scores will remain in the low 500's because FICO holds that balance against your UTI. Once you're good there, if you've got at least one year since the Cap One balance was paid, app for a Cap One card, go secured if you can't get unsecured.
@Anonymous wrote:
@Anonymous wrote:Since I've seen a lot of similar post, I decided to join and start my own log for my credit rebuilding journey.
I'm a bit embarrassed to share my low scores. I'm 25, and am just now starting to have a better understanding of how important it is to have good credit.As soon as I turned 18, I opened two CC accounts with Bank of America, and Cap1 and ended up screwing myself after that. I want to clear as much as I can, and any advise you all can give would be helpful!! My goal within the next two years, is to be able to purchase a home, and within the next year, trade-in my vehicle for something new.
I just pulled an updated FICO report, so here's the 411.
Fico Score 8 - EQ 510 | TU 522 | EX 520
FICO Score 5 - EQ 482 | 528 | EX 491
FICO Score 8 & 5 Auto - EQ 484/477 | TU 508/526 | EX 484/520
Here's what I currently have on my report.
- Kohls CC - $300 CL - previously had 2 missed payments, but just made a payment for more than the amount due. Two 30's? or 30 and 60? How recent?
- Comenity/Victoria's Secret - account in good standing, I pay my bill on time and just got a CLI from $250-$650
- Nordstrom - $500 CL - previously had 2 missed payments, same as Kohls, and just made payment for more than the amount due. How recent?
- USAA Secured MC - $250 - I just applied and got approved, so haven't received my card yet.
- Cap1 - account opened May 2011 - charge-off/collections paid balance in full How recent was this paid?
- Old Navy.Syncb - closed/charged off as bad debt
- Bank of America - opened in 2009 - charged off - Balance on account $1,229. This needs to be settled for scores to rebound.
- U.S Dept of Education - no negatives for this account since payments are deferred to 2018
- GM Financial - account in good standing, pay my bill on time every month
Collections
- Sprint - PAID - and I actually still use them as my service provider. Should I send a GW letter and request to get this mark removed? It is from 2013 Yes.
- Progressive Insurance - $2,440
- Midland Funding - paid collection. Does this affect my credit? should I sent a GW letter to get this removed? Yes
Do you recommend I apply for another Secured Card? Possibly, but might not be necessary. I was thinking maybe Bank of America or Discover. BofA will be a no-go until they are paid in full. They have a long memory and tend to hold a grudge. Also, should I increase my CL for USAA? No.
First priority is to get the BoA balance paid/settled so it reports a $0 balance. Until that happens your scores will remain in the low 500's because FICO holds that balance against your UTI. Once you're good there, if you've got at least one year since the Cap One balance was paid, app for a Cap One card, go secured if you can't get unsecured.
Thanks!
@Anonymous wrote:Since I've seen a lot of similar post, I decided to join and start my own log for my credit rebuilding journey.
I'm a bit embarrassed to share my low scores. I'm 25, and am just now starting to have a better understanding of how important it is to have good credit.As soon as I turned 18, I opened two CC accounts with Bank of America, and Cap1 and ended up screwing myself after that. I want to clear as much as I can, and any advice you all can give would be helpful!! My goal within the next two years, is to be able to purchase a home, and within the next year, trade-in my vehicle for something new.
I just pulled an updated FICO report, so here's the 411.
Fico Score 8 - EQ 510 | TU 522 | EX 520
FICO Score 5 - EQ 482 | 528 | EX 491
FICO Score 8 & 5 Auto - EQ 484/477 | TU 508/526 | EX 484/520
Here's what I currently have on my report.
- Kohls CC - $300 CL - previously had 2 missed payments, but just made a payment for more than the amount due.
- Comenity/Victoria's Secret - account in good standing, I pay my bill on time and just got a CLI from $250-$650
- Nordstrom - $500 CL - previously had 2 missed payments, same as Kohls, and just made payment for more than the amount due.
- USAA Secured MC - $250 - I just applied and got approved, so haven't received my card yet.
- Cap1 - account opened May 2011 - charge-off/collections paid balance in full
- Old Navy.Syncb - closed/charged off as bad debt
- Bank of America - opened in 2009 - charged off - Balance on account $1,229.
- U.S Dept of Education - no negatives for this account since payments are deferred to 2018
- GM Financial - account in good standing, pay my bill on time every month
Collections
- Sprint - PAID - and I actually still use them as my service provider. Should I send a GW letter and request to get this mark removed? It is from 2013
- Progressive Insurance - $2,440
- Midland Funding - paid collection. Does this affect my credit? should I sent a GW letter to get this removed?
Do you recommend I apply for another Secured Card? I was thinking maybe Bank of America or Discover. Also, should I increase my CL for USAA?
7/23/15 UPDATE
My scores went down by a few points. Went a bit overboard with apps, which means I have a lot of inquiries, so I have completely STOPPED.
I'm sure a lot of you have gone through this phase. I'm still learning, but I won't be applying for anything else anytime soon.
EQ: 500 TU: 514 EX: 510
Current accounts in Collections:
Bank of America - $1,229.37
Verizon Wireless - $1,255.95
Current CCs
USAA Secured - CL: $250 | Balance: $137.73 - Closing is 8/10, so I will pay the balance before then, leave about $7 on it, then pay that after closing.
Nordstrom - CL: $500 | Balance: $0
Victoria's Secret - CL: $650 | Balance: $246 - Closing is on the 1st, so payment will be made a few days before to make sure it processes on time
Kohls - CL: $300 | Balance: $150.23 { balance paid today]
I applied and approved for a Capital One Secured Card, starting with just the $200 CL.
I'm making payments on Bank of America & Verizon to get those balances to report as $0. I've sent numeous PFD requests, and nothing yet. Even if BoA and VZW do not remove the TL, I'm sure I'll see some sort of increase at least from BoA since it was a CC.
Once I pay off Kohls, and USAA. I will use either USAA or Cap1 for small charges to start increasing my score.
There are other paid collections on my account, about three, but I will worry about getting those removed once I have cleared BoA & Vzw.
Feel free to leave any advice you have 
This forum has been helping me out a lot, so thanks to you all!
@Lasardo wrote:
You are on the right track! All you do now issue back and wait..patience. Don't close ANYTHING it will trash your credit history and affect your scores. Keep making on time, consecutive payments.
Kohls was incredibly generous in my case with removing inquires (3), I have an address if you would like to send a gw letter to remove anything. I know if you have anything Kate's they are willing to remove also.
Once your scores start to rebound (about 6 months) I highly suggest looking into a "credit builder" account which gives you the ability to build credit AND save money. Look it up here where I have put detailed info on it. You can start saving for that house too!
You have many department store cards which are not giving you the credit you deserve like a cc does so stick with the credit cards you have. Keep sending PFD/GW LETTERS until you reach your desired goal. I have an example letter to remove inquires also.
I think within a year/year 1/2 you just might be able to start looking into a house which was in my case a option.
I started at 554 and 1.5 yrs later I was closing on my house with credit score of 723. You can do this.
Also; authorized user.. Anyone willing to let you piggy back off their credit?
Let me know if you have any questions!
Lasardo
Wow! Thanks so much!
Yes, please send me the address for Kohls.
I'm definitely going to continue sending GW and PFD letters, since there's no harm in that 
I'm going to lay low and not apply for anymore credit this year, and just work with what I have. I'll definitely look into finding a bank that has the "credit builder" options.
Hopefully by this time next year, I will have recovered from all of this. I'm determined to be a homeowner, and purchase a new vehicle!
Once again, thanks!
7/23/15 UPDATE
My scores went down by a few points.
I'm sure a lot of you have gone through this phase. I'm still learning, but I won't be applying for anything else anytime soon.
EQ: 500 TU: 514 EX: 510
Current accounts in Collections:
Bank of America - $1,229.37
Verizon Wireless - $1,255.95
Current CCs
USAA Secured - CL: $250 | Balance: $137.73 - Closing is 8/10, so I will pay the balance before then, leave about $7 on it, then pay that after closing.
Nordstrom - CL: $500 | Balance: $0
Victoria's Secret - CL: $650 | Balance: $246 - Closing is on the 1st, so payment will be made a few days before to make sure it processes on time
Kohls - CL: $300 | Balance: $150.23 { balance paid today]
I applied and approved for a Capital One Secured Card, starting with just the $200 CL.
I'm making payments on Bank of America & Verizon to get those balances to report as $0. I've sent numeous PFD requests, and nothing yet. Even if BoA and VZW do not remove the TL, I'm sure I'll see some sort of increase at least from BoA since it was a CC.
Once I pay off Kohls, and USAA. I will use either USAA or Cap1 for small charges to start increasing my score.
There are other paid collections on my account, about three, but I will worry about getting those removed once I have cleared BoA & Vzw.
Feel free to leave any advice you have
This forum has been helping me out a lot, so thanks to you all!
8/5/15 Update
EQ 527
TU 544
EX 516
EQ and TU are all updated, but no updates from EX since July 30th.
Does anyone know why Experian hasn't updated? Is it maybe because the creditor hasn't sent the update to Ex? I was advised they all send to all three bureaus. Not sure why TU and EQ all got the payment updates, and not Ex.
I'm still working on paying down the Bank of America balance, and Verizon Wireless. Other than that, all my credit cards, and auto loan accounts are up to date.
Slow and steady wins the race.
@Anonymous wrote:
@Lasardo wrote:
You are on the right track! All you do now issue back and wait..patience. Don't close ANYTHING it will trash your credit history and affect your scores. Keep making on time, consecutive payments.
Kohls was incredibly generous in my case with removing inquires (3), I have an address if you would like to send a gw letter to remove anything. I know if you have anything Kate's they are willing to remove also.
Once your scores start to rebound (about 6 months) I highly suggest looking into a "credit builder" account which gives you the ability to build credit AND save money. Look it up here where I have put detailed info on it. You can start saving for that house too!
You have many department store cards which are not giving you the credit you deserve like a cc does so stick with the credit cards you have. Keep sending PFD/GW LETTERS until you reach your desired goal. I have an example letter to remove inquires also.
I think within a year/year 1/2 you just might be able to start looking into a house which was in my case a option.
I started at 554 and 1.5 yrs later I was closing on my house with credit score of 723. You can do this.
Also; authorized user.. Anyone willing to let you piggy back off their credit?
Let me know if you have any questions!
LasardoWow! Thanks so much!
Yes, please send me the address for Kohls.
I'm definitely going to continue sending GW and PFD letters, since there's no harm in that
I'm going to lay low and not apply for anymore credit this year, and just work with what I have. I'll definitely look into finding a bank that has the "credit builder" options.
Hopefully by this time next year, I will have recovered from all of this. I'm determined to be a homeowner, and purchase a new vehicle!
Once again, thanks!
A "credit builder loan" is not needed in your case since youy already have an Auto Loan. A second installment loan will not help. After a couple of statement periods from Capital One, go app for one of their unsecured cards. If approved, wait for ti to show on your reports, then close the secured card, and app for a second unsecured card. Cap One likes to see a lot of activity and large payments on their accounts. After three statements log in and request CLI's on both accounts.