My credit rebuild journey thus far.

[Anonymous]

Hello,

  I started in October 2016 to rebuild my credit. My fako said 507, I was hoverver able to get a Cap1 with 300 dollar initial cl, which increased to 500 about 6 weeks ago. I had also gotten a Synchrony Napa card for 800 dollars and a "self lender" CD installment loan.There is no credit check for the CD installment loan, but they do report to the big 3.

My credit karma scores show 640 tu and 623 eq, Cap1 says 640. Amex and Discover Fico says 671 and 673 respectively, the dollar pull from exp says 661. In the last month I got a 500 dollar secured Discover It card, 1,000 dollar Amex ED (not blue) and a 7,500 dollar Huntington Voice card and an increase to 2500 on the Synchrony Napa. I feel pretty good about the credit limits I have at the moment.

So, Im thinking it's time to garden for a year. Over the course of the next year I intend to gw some lates I have on student loans...(I know glwt) and deal with an improper state tax lein. I also am working on a badie that the OC and CA will not provide DOFD for me, and they have "re-agged" the account. About this time next year I would also like to get into NFCU as I have an "in" there. I have no idea what cards I would like to get next.

All of this being said I have a question or two. Should I still try the Amex 3x CLI when when the magic date comes up or should I just continue to garden for the year? In terms of gardening, would you consider re doing another CD instalment loan as a gardening reset or just a continuation of good gardening? Lastly is the 3x CLI also considered a gardening reset?

Thanks in advance for your help,

FiveSeven

[Anonymous]

Congrats on the triple digit increase in such a short time! Did you notice the CD loan provided a score jump even though you already had student loans? I was thinking about one but with a car loan and several student loans my thought process was reducing the balance compared to the original limit would have a similar impact as a secure loan.

[Anonymous]

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@Anonymous wrote:
Congrats on the triple digit increase in such a short time! Did you notice the CD loan provided a score jump even though you already had student loans? I was thinking about one but with a car loan and several student loans my thought process was reducing the balance compared to the original limit would have a similar impact as a secure loan.

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Thank you! I did notice about a 23 point jump that I could attribute to the CD laon through self lender. However, it took 2 months from signup to show. They do not start reporting untill 30 days after the first payment. Also the first payment comes 30 days after you sign up, at least it did for me. It is lsited under other loans for me. So it adds to the credit mix as well as provide additional payment history. I do like it though because after the loan is done I get the 550 dollars back plus about a dollars interest. So the intital "administration" fee is the only loss in it, but you do get the reporting to the 3 major cra's. I think it helps over all. I might do it one more time, but after that I should be well established and not need it anymore.

[Anonymous]

Bumping for input on oreginal post.

[rmduhon]

What exactly do you mean by the account was 're-aged'?

[Anonymous]

The account is from 2010, they claim it is 2011. The OC says they believe its correct despite being unable to provide any proof. The CA also has not sent anything. Ive asked booth and have been largley ignored. That being said even by their claimed DOFD 3/10/11 which I believe to be a clerical error 3/11/10 it should be off next March anyway. Though I dont feel like waiting. Transunion did delete it from my cr, but none of the others have yet.

I could be mistakin in saying re-aged, but I believe this is about what happened.

[rmduhon]

When was the account first late and never brought current?

[Anonymous]

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@rmduhon wrote:
When was the account first late and never brought current?

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It was March 11 2010. They claim March 10 2011