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Rebuilding Credit Seems to be at a hault

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Anonymous
Not applicable

Rebuilding Credit Seems to be at a hault

Hi myFICO community!

 

I have been meaning to post this for a month and just had the time to do so. I am trying to get my credit at a place to look attractive to a mortgage lender. I have been working on my credit since January 01, 2015. Current credit scores: EQ 572 as of 8/17/15, TU 595 as of 9/3/15, EX 611 as of 8/16/15.

 

My first plan was to pay Lexington Law which I have been yes, I know don’t reply on this J lack of time not lack of effort.

 

Secondly, I applied and was approved for First National Bank of Omaha secure CC credit limit $300.00

Thirdly, After a month I applied for Milestone Unsecured CC and was approved with a credit limit $300.00

Fourth, After 2 months I applied for Capital One Quick Silver Rewards Unsecured CC and was approved with a credit limit $300.00

Last, I just typed a letter to Cavalry Portfolio Service for a pay for deletion with a balance of $560.00 I will be sending this letter out 9/8/15.

 

ALL bill are paid on time and CC balances are paid in full every month Since Last June 2014 and still current on all bills. 1 AU user below is Kohls charge card.

 

How can I get my credit score up before I apply for a mortgage loan prob FHA but still would like to see how I could improve my score? Also, how long approx. Will it take to get an unsecured CC with a higher credit limit other than $300.00 - $500.00? Any advice would be appreciated.

 

Public records below is a Chapter 7 Bankruptcy discharged 2008, and a tax lien when I incorporated a business with no sales and use taxes due I did not file the form and this was filed in the court.

 

My credit at a glance:

                                                          EQ                                                     TU                                                 EX

Credit History

                                                     8 Years

                                                                                                              9 Years

                                                                                                                                                                    9 Years

Total Accounts

                                                      25

                                                                                                                27

                                                                                                                                                                         17

Current Accounts

                                                    25

                                                                                                               27

                                                                                                                                                                       17

Past Due Accounts

                                                   0

                                                                                                               0

                                                                                                                                                                       0

Revolving Accounts

                                                  8

                                                                                                              6

                                                                                                                                                                      6

Installment Accounts

                                                 17

                                                                                                             21

                                                                                                                                                                     11

Mortgage Accounts

                                                 0

                                                                                                            0

                                                                                                                                                                      0

Other Accounts

                                                  0

                                                                                                              0

                                                                                                                                                                     0

Collections

                                                5

                                                                                                               3

                                                                                                                                                                    5

Public Records

                                               3

                                                                                                              1

                                                                                                                                                                     1

Negative Indicators

                                                11

                                                                                                              9

                                                                                                                                                                     5

Authorized User Accounts

                                                 1

                                                                                                               1

                                                                                                                                                                      1

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Rebuilding Credit Seems to be at a hault

App for a second Cap One card, the Platinum with no annual fee. Go online and request a CLI for the QS1 card.
Message 2 of 6
Anonymous
Not applicable

Re: Rebuilding Credit Seems to be at a hault

Do not pay every single credit card off to $0 every month. Let one report a balance and keep the utilization below 10%. I hear it usually takes at least 6-12 months before you can graduate to an unsecured card, just depends on the company you apply to for a card I guess. You can go the GW/PFD route and get the letter writing started. You can also just fire off some dispute letters and see what happens. Did this for my wife beginning in May and was able to remove 6 of 7 collections (some companies just removed them and others I had to fight with and some were closed, and some were open collections) and raise her score by 100 points. Would have been able to accomplish more but she has lates on her student loans that were unable to be deleted. Long story, not worth really going over lol. But anyways, never ever ever ever pay Lexington Law.  That is money that can go towards paying off debts. They don't have any secret formulas or do anything you could not do for yourself.  Use these forums and the internet to your advantage and read read read!!! Credit law can be confusing but between these forums and a few other sites I used, it really helped my get things cleared up for the wife.

Message 3 of 6
Anonymous
Not applicable

Re: Rebuilding Credit Seems to be at a hault


@Anonymous wrote:

Hi myFICO community!

 

I have been meaning to post this for a month and just had the time to do so. I am trying to get my credit at a place to look attractive to a mortgage lender. I have been working on my credit since January 01, 2015. Current credit scores: EQ 572 as of 8/17/15, TU 595 as of 9/3/15, EX 611 as of 8/16/15.

 

My first plan was to pay Lexington Law which I have been yes, I know don’t reply on this J lack of time not lack of effort.

 

Secondly, I applied and was approved for First National Bank of Omaha secure CC credit limit $300.00

Thirdly, After a month I applied for Milestone Unsecured CC and was approved with a credit limit $300.00

Fourth, After 2 months I applied for Capital One Quick Silver Rewards Unsecured CC and was approved with a credit limit $300.00

Last, I just typed a letter to Cavalry Portfolio Service for a pay for deletion with a balance of $560.00 I will be sending this letter out 9/8/15.

 

ALL bill are paid on time and CC balances are paid in full every month Since Last June 2014 and still current on all bills. 1 AU user below is Kohls charge card.

 

How can I get my credit score up before I apply for a mortgage loan prob FHA but still would like to see how I could improve my score? Also, how long approx. Will it take to get an unsecured CC with a higher credit limit other than $300.00 - $500.00? Any advice would be appreciated.

 

Public records below is a Chapter 7 Bankruptcy discharged 2008, and a tax lien when I incorporated a business with no sales and use taxes due I did not file the form and this was filed in the court.

 

 


Are the balances paid before or after the monthly statement closes?

Message 4 of 6
Anonymous
Not applicable

Re: Rebuilding Credit Seems to be at a hault

On the First National Bank of Omaha Secure CC no I charged a few things and made monthly payments a little above the min payment since I got the card since I think this past spring. I am not sure what I mentioned in my initial post since I cannot see my initial post while replying to posts. Then last month I paid the full balance off. Same with the Milestone unsecure cc charged a few things made the min payment of $35.00 - $40.00 every month since late spring and pad the full balance off last month. The Capital One Quick Silver I pay the balance off before the statement. When I went back to look at the statement my account balance was actual a credit balance because I paid over. I only use this QS card because of the reward cash back and with a small credit limit of $300.00 I have to keep making multiple payments paying it in full in order to take advantage of the cash back. So I actually use this card like I would my debit card and just paid the balance off in order to keep using the card for the rewards.

Message 5 of 6
Anonymous
Not applicable

Re: Rebuilding Credit Seems to be at a hault


@Anonymous wrote:

On the First National Bank of Omaha Secure CC no I charged a few things and made monthly payments a little above the min payment since I got the card since I think this past spring. I am not sure what I mentioned in my initial post since I cannot see my initial post while replying to posts. Then last month I paid the full balance off. Same with the Milestone unsecure cc charged a few things made the min payment of $35.00 - $40.00 every month since late spring and pad the full balance off last month. The Capital One Quick Silver I pay the balance off before the statement. When I went back to look at the statement my account balance was actual a credit balance because I paid over. I only use this QS card because of the reward cash back and with a small credit limit of $300.00 I have to keep making multiple payments paying it in full in order to take advantage of the cash back. So I actually use this card like I would my debit card and just paid the balance off in order to keep using the card for the rewards.


That is actually ideal usage for your cards. If the account is three months old, go online and request a credit limit increase.

Message 6 of 6
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