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My Rebuild (with data points)

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MrsCHX
Valued Contributor

My Rebuild (with data points)

I started rebuilding mid February 2016 and my EQ FICO was 575 with 2 judgments (2010 and 2011), 1 charge off (2013), 2 medical collections (2015) and 1 other collection (2013). I also have student loan lates. The only good was my AAoA and the Merrick card (opened 10/2015).

 

This was (and is) the worst of the 3 bureaus for me. 

 

In February I opened: CapOne QS1 and Platinum, Amazon, Pier 1, VS, Walmart and Target

 

  • Mid-March my EQ was 581

 

In March I opened: GM BuyPower card, JCrew, Care Credit, NYCO, Ann Taylor (SCT) and TJ Maxx. (I know. I went nearly a decade w/o credit and went app happy)

 

  • End of March my EQ was 572

 

In April I purchased my car (~$13K) and closed NYCO.

 

  • End of April my EQ was 538. This is where my app spree caught up with me

 

In May an old Cap One charge off was added as a collection. I received CLIs on my Cap One cards.

 

  • End of May my EQ was 542

 

In June I settled and got a PFD on one of the medical charge offs. I received a CLI on Target and Merrick, and I added American Eagle

 

  • End of June my EQ is 573

 

The other medical collection will do a PFD but it has to be paid in full (the other was settled). I am paying that over 4 payments so will hopefully see that come off by October. The old charge off, First Premier agreed to delete last month so again, that should be off soon. I'm working on paying the other collection (from an apartment - not an eviction). And the most recent charge off is in negotiation with PRA so hopefully (fingers crossed!) I can do a PFD. 

 

I am definitely in the garden and plan on playing the long game. I should be in really good shape by spring of 2018 when most of the inquiries fall off (I think I have 13 EX, 16 TU, 17 EQ). 

 

(My EX started at 623 in Feb and is now 643. My TU started at 610 and is now 630)

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
31 REPLIES 31
RonM21
Valued Contributor

Re: My Rebuild (with data points)

You have made some good moves and gardening should be a top priority as you mentioned. You now want to start to see those scores improve, and move from the stagnant area they've been in. With what you have in motion with the deletions, combined with growth, you should see some nice improvement. Best of luck!


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 2 of 32
MrsCHX
Valued Contributor

Re: My Rebuild (with data points)

My FICO 08 TU score is up to 640 from 614 last month. 

 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 3 of 32
Anonymous
Not applicable

Re: My Rebuild (with data points)

For your Walmart and Amazon cards call Credit Solutions or chat and ask for a CLI. With your TU score being higher than when you got the cards you just might get one. If you do decide to try (it's a SP) ask for high (like 10,000) and they'll counter with what they'll let you have.
Message 4 of 32
MrsCHX
Valued Contributor

Re: My Rebuild (with data points)

FICO 08 Scores:

 

EQ: 584 (+12) via DCU

EX: 632 (-11) via Discover Scorecard

TU: 633 (-7) via Merrick

 

Focus is still clearing up baddies. I'll probably be stuck in the low 600s for awhile because of the judgments. 

 

My util is at 33% which I know is a factor too.

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 5 of 32
Anonymous
Not applicable

Re: My Rebuild (with data points)

I'm in the same boat. Stuck in the mid 600 range across the 3. I also have a couple of judgements that fall of next year. I'm fresh out of a 5 yr CH13 so seeing what is possible from you is great. Did you prequalify with CapOne or did you cold app?

Message 6 of 32
MrsCHX
Valued Contributor

Re: My Rebuild (with data points)

All were cold apps besides Merrick and Buy Power. 

 

I feel like I should give up. At least for awhile. There is no real optimizing with these judgments. The last one is due to fall off June 2018 and I'll also have next to no inquiries at that time so I'm just trying to focus on that time. Hopefully spring of 2018 I can get EE of the judgment and be clean on all reports.

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 7 of 32
MrsCHX
Valued Contributor

Re: My Rebuild (with data points)

6 months since my last post and 1 year into my rebuild:

 

  • Judgements have been removed
  • All collection accounts paid/removed (waiting on update)
  • Lots of new accounts and the inquirys that go with them!
  • Since June I've added
    1. Kohl's (September): TU around 620, $300 SL
    2. Macy's (October): EX around 630, $600 SL 
    3. Firestone (October): TU around 630, $1,000 SL
    4. Overstock via SCT (January): Unsure which bureau was SP, likely EQ which was around 600, $250 SL 
    5. Marvel (February): TU 697, $1,500 SL
    6. NFL Extra Points: TU 697, $1,300 SL
    7. AMEX BCE (February): EXP 698, $2,000 SL
  • INQs: EX: 12, TU: 23, EQ: 22 
    1. EX: 2 in last 6 months | 4 (3 auto) in last 12 months | 6 greater than 12 months but less than 24 months
    2. TU: 3 in last 6 months | 13 (3 auto) in last 12 months | 7 greater than 12 months but less than 24 months
    3. EQ: 3 in last 6 months | 15 (8 auto) in last 12 months | 4 greater than 12 months but less than 24 months
  • Oldest account / AAoA: EX and EQ: 19y4m / 6y10m TU: 19y4m / 8y 
  • Utilization: 3%
  • Total credit lines: $40,450 (will be no great loss to drop the ones I mention below. I'll lose just under $3,000 but by then my AMEX should triple).

 

As of right now, my scores are: EQ 691, TU 699, EQ 628 (DCU score as of 1/27). I expect my EQ to jump in March and hope to be a part of the 700 club on the other two by then. 

 

  • In 2017 I plan to close: Overstock, Ann Taylor, J.Crew, Kohls, Merrick and possibly Capital One BuyPower. I combined my QS and QS1, leaving me with 14 cards. I plan to grow my new major cards this year - AMEX and Marvel. And hopefully some combination of Target, WalMart, TJ Maxx and AE will receive upgrades.
  • In 2018 I'd like to add a travel rewards card after the bulk of my inquiries have dropped off. 

What's holding me back:

  • Student loan late payments - I'll have to wait these out. Time since negative is 2y6m (except on EQ but that collection will be deleted soon).
  • High installment loan balances
    1. Student loan debt is high. Barely making a dent with IBR payments 
    2. Car loan. Interest rate is sky high. I hope to refinance soon as I am also barely making a dent in the loan
    3. Personal loan that will be paid off by the end of 2019. Car will be paid off by the end of 2020 if refinanced
  • I am okay (or at least trying to be - haha!) with knowing I probably won't cross 800 for a few years because of the above factors.

 

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 8 of 32
Anonymous
Not applicable

Re: My Rebuild (with data points)

Wow MrsCHX you've come a long way. All the progress you have made is just awesome, congratulations on a job very well done!
Message 9 of 32
MrsCHX
Valued Contributor

Re: My Rebuild (with data points)

Thanks!


I'm looking forward to getting and maintaining squeaky clean files Smiley Happy

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500
Message 10 of 32
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