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Rebuilding Diary. Input welcome!

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Anonymous
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Re: Rebuilding Diary. Input welcome!

I applied for membership to Alliant via the donation route.  Now I'm just waiting for the external account deposit verification and 60 month $500 secured loan to be approved.  I'm not sure if I should have waited for the external account to be available and move the $500 first, but I went and started the loan process, too.  Also, I've disputed my final collections record with TransUnion (via CK) and Experian (via Experian) since I have a letter from the OC and want this deleted ASAP.  I'm going to call CapOne EO later today to get my final baddie removed from my report!  Would anyone advise for or against also asking them about upgrading my QS One to a QS at the same time as deleting my old account?

Message 11 of 16
Anonymous
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Re: Rebuilding Diary. Input welcome!

Per last post, I disupted my last collection account that via the methods mentioned, and Experian already sent me an email saying it is now deleted from their report.  The Transunion dispute was sent to them via CK, and I'm expecting  good news from them within a week.  Also, I talked to my EO rep at CapOne, and she is submitting the paperwork for deletion of the last account in bad standing and expects it to be shipped to the CRA's in 7-10 business days.  So it sounds like in 1-2 weeks max I will have a completely clean record!

 

Also, I asked about my QS One upgrade to a QS, and she said it might be possible next month after my account hits 6 months.  So that's TBD.  I asked her about a CLI too, and she said there were three options, CLI request via phone system, website/app, and manual.  Phone system and website/app hit the same system.  Manual review goes through a different process and she put forth the CLI request via manual review per my request.  What a great lady they have there!

Message 12 of 16
Anonymous
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Re: Rebuilding Diary. Input welcome!

Capitol One QS One CLI by 1k to 2.5k!  Manual review seems to be the way to go sometimes.

Message 13 of 16
Anonymous
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Re: Rebuilding Diary. Input welcome!

My last baddie (old charged off Cap1 card back on 2010) has finally been deleted via a GW letter, and my score has jumped by 61 points at Equifax, 26 points on Experian, and Equifax is lagging behind (althought I've checked my Equifax is clean via Quizzle.)  Scores in my sig are current, and almost to my goal of 700 already!  I'm sure getting from 700 to 750 will take some time, but I'll change my goal once all 3 are at 700+.

 

Waiting for a couple weeks for my first Discover CLI this month and maybe a credit steps bump CLI for my QS1.  Next month my Alliant secured loan and Cap1 Plat will report, and I can close my secured US Bank card.  I'm expecting all 3 to hit 700 in February.

 

I'm itching to app but checking pre-qual's will hopefully tide me over till my gardening goal of June 2016.  Thanks to everyone on this forum as my credit after many years is getting to the point of not being embarassing! WOOT!

Message 14 of 16
Anonymous
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Re: Rebuilding Diary. Input welcome!


@Anonymous wrote:

@Anonymous, I've read a few posts about whether opening an installment load is worth it for credit rebuilding purposes.  Up till now, the consensus has been mixed at best.  It sounds like you are recommending it.  Can you let me know what your experience with this route has been?


Sorry - went AWOL a bit over the holidays......

If you don't have an installment loan - or never have had one - it can help you on the credit mix portion of your score.  Even a paid loan stays out there for like 10 years, so it shows you know how to handle that type of loan.  I've never had to go get a specific loan - I think since the beginning of my credit life (25+ years) I've always had a car loan - paid or paying on my report.   My first ever line of credit was an auto loan with my dad a co-signer at 18 years old.   

I also have had a mortgage in my name and on my reports since I was 23......even now - without a current mortgage - my old one from 2007 is still on my report - as well as 2 car loans - and student loans.......

I can't tell you if it will for sure help you - but from what I've seen out here - you might take a quick hit at the beginning of the loan when the balance is high - then you gain the points and more as you pay it down.   There is usually a small hit when you close the account (pay it off) but it's still worth it because the payment history and AAoA help you for 10 years after it's paid off.    In the long run you should have a higher score (even with small dips) than you would have been able to get without one.   of course - everyone is different - but if you pay on time and create a positive account - the odds are in your favor.  

 

Hope that helps......

Message 15 of 16
Anonymous
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Re: Rebuilding Diary. Input welcome!

Cool thanks jlynn0819!

Message 16 of 16
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