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New to myFICO and rebuilding

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Anonymous
Not applicable

New to myFICO and rebuilding

Newbie here, been trying to read these forums for a few months and have learned a bit. Started my credit journey in April 2017.
Back in 2012/2013 I had a 720 EQ. Went through an identity theft and had no idea how to handle it or recover from it. I decided this year to tackle learning about credit and also fix mine. Started in April with a 500/506 TU & EQ.
After lurking here I app'd for a secured card from Capital One - approved $200 with a $99 deposit.
Waited for the Cap One card to show on my credit then app'd for a VS store card through Comenity Bank - approved $250 limit.

I read up on identity theft and filled out the forms and started contacting credit bureaus to dispute the fraudulent charges. Some I was successful in removing, some I wasn't.

Anyways, I let those cards sit until July 22; my car was totaled so I applied for an auto loan through Cap One - approved, and now driving a 2014 SUV with a nearly 10% interest rate (kill me but I need the car lol). 3 days later I got brave and app'd for an AMEX Delta Gold, got the 7-10 day message, I called immediately, answered some identity verifying questions and approved for $1,000. I also have two student loans in good standing since September of 2015.

 

Current scores are 656 TU (9/21/17), 654 EQ (9/20/17) & 632 EX (9/16/17)


Been using and paying on both cards plus the store card, have maintained payments on my student loans and new auto loan. Recently got a new job that almost doubled my annual income but I am now required to travel A LOT! 

That's the start of my journey.

 

- Iz

 

ETA: In the future I am wanting to get the AMEX Hilton Honors card because those are the hotels we stay in and a cash back card at some point (I just don't think I am ready to app for more cards yet). Any advice is welcome! 

Message 1 of 6
5 REPLIES 5
tufa4311
Established Contributor

Re: New to myFICO and rebuilding


@Anonymous wrote:

Newbie here, been trying to read these forums for a few months and have learned a bit. Started my credit journey in April 2017.
Back in 2012/2013 I had a 720 EQ. Went through an identity theft and had no idea how to handle it or recover from it. I decided this year to tackle learning about credit and also fix mine. Started in April with a 500/506 TU & EQ.


What? Are you saying that you became a 500 in April due to identity theft? Negative effects from identity theft shouldn't be permanent. Did you not work to get the damage they did removed by the creditors? I had identity theft a few months ago and my score dropped a bit - I called the creditor, told them it wasn't me, they said ok and cleared my record of credit with them, next month my score went back up.

 

What happened in the clean up process?

796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
Message 2 of 6
Anonymous
Not applicable

Re: New to myFICO and rebuilding

Congrats! And best of luck!
What do you mean when you said you you applied for AMEX and got the 7-10 day message? What’s the 7-10 day message?
Message 3 of 6
Anonymous
Not applicable

Re: New to myFICO and rebuilding


@tufa4311 wrote:

@Anonymous wrote:

Newbie here, been trying to read these forums for a few months and have learned a bit. Started my credit journey in April 2017.
Back in 2012/2013 I had a 720 EQ. Went through an identity theft and had no idea how to handle it or recover from it. I decided this year to tackle learning about credit and also fix mine. Started in April with a 500/506 TU & EQ.


What? Are you saying that you became a 500 in April due to identity theft? Negative effects from identity theft shouldn't be permanent. Did you not work to get the damage they did removed by the creditors? I had identity theft a few months ago and my score dropped a bit - I called the creditor, told them it wasn't me, they said ok and cleared my record of credit with them, next month my score went back up.

 

What happened in the clean up process?


Allow me to clarify: in 2012/2013 I had a 720 EQ score.... that same time (2012-2013) I had my identity stolen, at 19-20 years old with no guidance, I had no idea what to do and so I didn't do anything. 
FF to this year, I have started a family (had a daughter last year and a son on the way), I am looking at getting a house in the next two years and know I need to have good credit for that. Thus began my research into credit and how to fix the mess left over from the identity theft from years prior. When I started out trying to "fix" it, my scores were 500 TU & 506 EQ. I contacted each credit bureau to report, as well as the collection agencies.... TU/EQ/EX removed some but not all, and some of the collection agencies were willing to remove the accounts entirely, others were not. 

 

Hope that helps to clear things up.

Message 4 of 6
Anonymous
Not applicable

Re: New to myFICO and rebuilding


@jilltmay wrote:
Congrats! And best of luck!
What do you mean when you said you you applied for AMEX and got the 7-10 day message? What’s the 7-10 day message?

I applied and did not get an instant approval online, instead I got the message that reads "you'll receive our response in the mail in 7-10 days" which from what I've learned is usually a denial. So instead of just accepting it, I went on the proactive and contacted them immediately. 

Message 5 of 6
tufa4311
Established Contributor

Re: New to myFICO and rebuilding


@Anonymous wrote:

@tufa4311 wrote:

@Anonymous wrote:

Newbie here, been trying to read these forums for a few months and have learned a bit. Started my credit journey in April 2017.
Back in 2012/2013 I had a 720 EQ. Went through an identity theft and had no idea how to handle it or recover from it. I decided this year to tackle learning about credit and also fix mine. Started in April with a 500/506 TU & EQ.


What? Are you saying that you became a 500 in April due to identity theft? Negative effects from identity theft shouldn't be permanent. Did you not work to get the damage they did removed by the creditors? I had identity theft a few months ago and my score dropped a bit - I called the creditor, told them it wasn't me, they said ok and cleared my record of credit with them, next month my score went back up.

 

What happened in the clean up process?


Allow me to clarify: in 2012/2013 I had a 720 EQ score.... that same time (2012-2013) I had my identity stolen, at 19-20 years old with no guidance, I had no idea what to do and so I didn't do anything. 
FF to this year, I have started a family (had a daughter last year and a son on the way), I am looking at getting a house in the next two years and know I need to have good credit for that. Thus began my research into credit and how to fix the mess left over from the identity theft from years prior. When I started out trying to "fix" it, my scores were 500 TU & 506 EQ. I contacted each credit bureau to report, as well as the collection agencies.... TU/EQ/EX removed some but not all, and some of the collection agencies were willing to remove the accounts entirely, others were not. 

 

Hope that helps to clear things up.


Ok, well, I don't want to tell you what to do but I would not leave it at that. If those are not your debts, they are not your debts. If the collections won't do it them go back to the original creditors. Or keep trying with the collections - talk to different people. I leave it to you.

796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
Message 6 of 6
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