Hi all, I just stumbled upon this forums few weeks ago, and really loving the atmosphere here! I am currently trying to rebuild my score to app for a mortgage in early 2013. Current score I got from selectidtheftprotection.com are EXP 541, TU 510, EQ 618. I have 2 unsecured cards from cap1, one from 2007 with 1k cl and 130 in balance, other opened in 2010 with 1250 cl and 145 in balance. I just got approved for an auto loan for 13k at 6.65% at my CU here in Texas and per approved from cap1 for 24k at 11.90% (didn't take this one). My CU only reports to equifax 
, didn't find out until sign off on loan. Additionally, I have about 7-8 collections over 8k each from CC accts I defaulted on over 4 years ago. According to my report, these have high effect on my score. The auto loan hasn't shown up on the report yet, I signed off on it last week. My question here is, should I continue to meet utilization rate low and my cap1 unsecured card and make timely payments and garden for 6 months to a year to see, or should I apply for more cards? I also have 2 movado charge accts with $4500 in CL that haven't been closed, zero blance since 2006-2007 that I could try to put a small balance on for them to report and have more positive lines on my report. Any insigs would be greatly appreciated. I'm also looking into FHA loan with wellsfargo, been looking into it and they do approve for borrowers with sub 600 score. However, I'm aiming for higher score for better rate. Should I apply for more cards (which would you recommend?) or just wait and garden for awhile?
, didn't find out until sign off on loan. Additionally, I have about 7-8 collections over 8k each from CC accts I defaulted on over 4 years ago. According to my report, these have high effect on my score. The auto loan hasn't shown up on the report yet, I signed off on it last week. My question here is, should I continue to meet utilization rate low and my cap1 unsecured card and make timely payments and garden for 6 months to a year to see, or should I apply for more cards? I also have 2 movado charge accts with $4500 in CL that haven't been closed, zero blance since 2006-2007 that I could try to put a small balance on for them to report and have more positive lines on my report. Any insigs would be greatly appreciated. I'm also looking into FHA loan with wellsfargo, been looking into it and they do approve for borrowers with sub 600 score. However, I'm aiming for higher score for better rate. Should I apply for more cards (which would you recommend?) or just wait and garden for awhile?
Sorry its really late here, and I am headed to bed, but wanted to say a little something to you before I sign off, I will try to say more tomorrow.
First Welcome to MyFico! It is a great community and very addictive LOL!
Second I wouldn't apply for anymore cards, you are doing very well with your utilization, just keep it up. Also have you tried asking the CU if they wouldn't mind reporting to the other 2 bureaus? Never hurts to ask.
Third I would just focus on Paying off the collections, try doing PFD's, or negotiate a settlement offer and then send GW letters. And ALWAYS get any settlements or offers or agreements in writing before paying!
Ok if no one hasn't it done it by then, I will send you some helpful links tomorrow, have a great nite! 
Starting Score: TU-470 4/11/19, EQ-482 4/11/19, EX-486 4/11/19
@Anonymous wrote:
Hi all, I just stumbled upon this forums few weeks ago, and really loving the atmosphere here! I am currently trying to rebuild my score to app for a mortgage in early 2013. Current score I got from selectidtheftprotection.com are EXP 541, TU 510, EQ 618.I have 2 unsecured cards from cap1, one from 2007 with 1k cl and 130 in balance, other opened in 2010 with 1250 cl and 145 in balance. I just got approved for an auto loan for 13k at 6.65% at my CU here in Texas and per approved from cap1 for 24k at 11.90% (didn't take this one). My CU only reports to equifaxAccording to my report, these have high effect on my score. The auto loan hasn't shown up on the report yet, I signed off on it last week. My question here is, should I continue to meet utilization rate low and my cap1 unsecured card and make timely payments and garden for 6 months to a year to see, or should I apply for more cards? I also have 2 movado charge accts with $4500 in CL that haven't been closed, zero blance since 2006-2007 that I could try to put a small balance on for them to report and have more positive lines on my report.Any insigs would be greatly appreciated. I'm also looking into FHA loan with wellsfargo, been looking into it and they do approve for borrowers with sub 600 score. However, I'm aiming for higher score for better rate. Should I apply for more cards (which would you recommend?) or just wait and garden for awhile?
hi and welcome to the forums,
I spaced out your post, so it's just a little easier to read.Please understand i am trying to be helpful. You may get more replies this way.If you want to, you can edit your post by clicking on the options, then edit.
The scores you pulled are not FICO scores, they are what we call FAKO's. Your real FICO Scores maybe higher or lower, everyones different.The only FICO Scores a consumer can get are EQ and TU. Because EX can only be pulled by a loan officer at a bank,CU or a mortgage lender.Here at myFICO you can purchase the EQ FICO and the TU FICO.For more info you can check out this thread...Son of Credit Scoring 101
Well for now, the only thing I can tell you is that NO lender especially Wells Fargo, will approve a home loan if you still have unpaid collections on your reports.
Really that is the best advice I can give you right now including all the advice you have been given above from everyone else.
1. Pay all collections off
2. Offer PFD's, send Goodwill letters
3.Use Fico scores, not fako scores
4. keep utilization low
5. I would NOT apply for anymore cards right now
6. Ask CU about reporting the loan to the other bureaus
7.Do not miss any payments on new car loan
According to some lenders having more than 3-5 tradelines can be excessive, and in my experience they may ask you to close a couple of them before approving you, so dont apply for anymore, you have enough and with the car loan you have a good mix of them.
DONT close any of your cards either, its good to have a long history, so keep them til you start shopping for lenders, and they will advise you of a course of action appropriate to their standards.
Ok HTH!