SPILLING ALL THE BEANS...WELL, MY BEANS...

[soamazin55]

I apologize in advance for the length of this post.

First and foremost, I'd like to thank this entire forum and those of you who post your stories and situations for others to see because it has a tremendous impact on how others less knowlegeable go about handling their own credit issues. I'm proof of that. So my journey is as follows...

(going to write really choppy in hopes of keeping the length to a minimum...

Ok...first cc at 18yo, cap1 500cl....few months later, second cc BOA 700cl...both cards handled beautifully for about 8 months....went away for college causing me to quit job...combined util on both cards at about 60%....first bill comes while unemployed...asked mom to handle it...she threw a fit (for reasons that arent relevant to my story but will explain if anyone is curious)...so after that, i decided to get PROUD and thought "if that's how you're going to act, i'll never ask you for help with these again"...and with that crazily immature and stupid attitude came the idea that i'd just forget about the two accts and go on with my life...could be the worse decision i've ever made in my life...moving on...i neglected those accts for 4 YEARS...you could imagine the havoc it wreaked on my report and score....

So 4 years later... (May 2011)...about to graduate college...i decide to take a look at the ole credit report and score...and it looked like this...2 CA for (one for each acct) reporting on all 3 CRA's...a judgement reporting on all 3 CRA's....a credit score of about 540 (FAKO)...and the worse part for me, at the time, was I owed the CA like $1900 for one account and about $1500 on the other for a $500cl  and $700cl, neither of which i maxed out...(but i get it, you reap what you sow).

So at this point....the credit rebuliding begins. And it was with a huge opportunity that that would even be possible....back to bullet points: about to grad college...mom says i'll buy you a car as a gift (nothing major, like 6-8k)...in probably one of the better decisions i've ever made, i tell her you know what, just give me the money so i can take care of some things, specifically my credit debts...and so she does...i contact both pay CA's...both are paid of IN FULL (made it a point to do that) in june...showing paid on my CR by July 2011...immediate significant boost in score to about 620's...happy about that, figured i need revolving credit....really didnt want to go secured...so after some research...landed on the infamous Orchard Bank card...instanly approved for $300...was ecstatic...because it was a chance...in early Nov 2011...i applied for cap1...approved for $500. (they took me back! lol)....and finally in late Nov 2011....i applied for an auto loan...loan amounted to about 8k...approved for but with pretty high interest (10%)...but grateful i got it. And that was it....in the garden i went.

Not a single credit app in 2012.

Which brings me to Jan. 2013. For the entire year, all payments on time (orchard paid in full every month)...low util every month sub 15%...and an AU on a Cap1 with $2000cl (util still below 15%)...and for the second half of 2012 i've been dodging mail offers for credit like a ninja. and those offers, suprising have been overwhelingly from Discover and Amex CHARGE cards. Go figure.

But again, back to this month, my credit profile is as follows...TU FICO of 703, EQ FICO of 687, unsure of EXP FICO. The following are scores I purchased on their sites directly...EXP 719, EQ 711, TU 728. AAoA is 2 years...Oldest acct is 3 year 5 months...(student loan that was deffered until Jan 2012). So with those numbers, I decide to step out the garden and do some credit shopping to expand and advance my profile...

First thing I do, on Jan 08, realize i dont have a Visa CC...after a little research, landed on Citi Forward...denied...did a recon (thats an interesting story in and of itself but this is already too damn long, lol...) to no avail. A little disappointed but thought maybe I aimed too high...a few days letter...i get a mail offer for the DISCOVER IT card...and since i'm out the garden...i figure "why not"...applied...instant approval for $2000!...was bouncing off the walls...so now i'm riding off a high...and revisit the idea of getting a Visa CC...did some more research (and by research, i mean perusing this site for hours, lol)...so i land on the Chase Freedom...now, i know (or think i know) that the Chase Slate may be easier to get, but I decided to go for Freedom anyway, besides, its listed on under CK recommended cards for me so why not...(CK score of 681 btw, "fair" odds of getting the Freedom)....so i apply...get the "further reveiw" msg...and per this site...i call a credit analyst right away...speak to an "ok" lady not the most pleasant or the meanest...just straightforward...tells me she cannot give credit at this time citing an "unpaid" judgment on my CR...now...as i explained to her, that judgment was accompanied by a CA that was paid off already...I didnt even know a judgment showed up as paid or unpaid...i mean, i've seen that judgment there on all my CR's but i just thought it was a ding on my report that i just have to wait for to fall off (feb 2015)...so if youre one of the probable 2 people that will read all this, any advice?. And it appears to be a fairly large issue because it was EXACTLY what was cited as my Citi denial..."unpaid judgement".

But back to Chase analyst...right before giving up, I asked if there was anything else to do...and she said she could pull up another CR...i said "sure, go for it"...put on hold...came back with 3 verification questions....put on hold....came back with "i was able to approve you for the Chase Freedom with $500cl"...now, that was bittersweet because...yay, i got approved...but...only $500...felt like a little bit of a backwards step given the discover 2k...but the chase freedom is def a net plus.

Ok...so back to the garden??? Not quite yet...felt like going for one more kind of a long shot, because approved or not, i'm in the garden til Feb 2014, and by then, all my intial inquiries will have aged off and all that will be left is what I apply for this month and figured 4 HP's spread amongst the 3 CRA's is not terrible. so again....after research...i land on the Amex BCE...that's right...i said it....the BCE!

Now, i figured my chances of denial were at like 80-85% so i planned it out in my head....i would apply...and upon seeing a denial, I would promptly shut the laptop and go about my day...be thankful for the cards I did recieve...and tend to the garden. And this is what happened....i applied (today)....received the whole pending or 7-10 day msg...and per the instructions of this site...went to check the status immediately and was approved! My limit? Who knows, i'll wait til the card gets here. My thought's is that it'll be $1000 with best case scenario being $2000. Either way...equally as shocked and happy that i was approved.

I'd love to say I counted my blessing and it all ended here....but that would be a lie. So i'm gonna mumble through this: after excitement of amex...realized no store cards...applied for best buy card...got approved for best buy mastercard w/ $500...whatever...lol.

AND NOW, I'M DEF BACK IN THE GARDEN!

My scores will def take a hit because of the 5 inquiries, but as I mentioned before....i'm in the garden til Feb 2014.

If you've read all of this, thank you...any feedback would be awesome, whether its a comment on the mistakes i've made in the past or anything i could/should do moving forward.

Add'l details.... my cap1 from nov 2011 raised my CL automatically to 750 at around the year mark. orchard CL still the same, havent asked for an increase...should i? I am gainfully employed now...income at about 39K.

But yeah, that's it. Thanks for reading. And sorry about the length again.

P.S. this was my first post...can you tell? lol

[Springer]

Dont you wish you could go back in time and smack some sense into yourself?  Lol.  All the time I was growing up, my parents said "Whatever you do, DO NOT mess up your credit, it takes forever to get it back!"  The bad thing is most of us have to learn the hard way.  Im about to turn 33 and I'm still being effected by bad decisions I made in my 20's.  With that said...these accounts that have judgements, I believe (if I'm wrong someone will correct me) you have to contact the company that has the judgement against you and they have to submit some documentation to the court to vacate the judgement, something to that affect.  You would have probably been in better position to offer a PFD on the accounts to have the negative items including judgements removed upon payment, or perhaps it would just remove the bad account and you would still have to take action on the judgements.  I'm still learning myself but I figured I'd throw in my 2 cents.  Good job on the rebuilding you have done!

[fishbjc]

Since the human brain doesn't stop growing until early 20's.....

The great news is......you CAN have great credit, it just takes time.  You're working toward that and you have matured and learned a LOT. 

Excellent Job!!!!!  Can you get into Navy Federal Credit Union?  They're amazing!

[soamazin55]

Definitely learned the hard way, lol. And thanks for the advice on the judgments. They are from Cap1 from my original account with them. So yeah, I'll give them a call to see if I could work anything out. And it's funny that you mentioned PFD's, because that remains potentially the biggest piece of information I stood to benefit from had I found this wonderful site before paying off my debts. But you live and you learn right. Thanks for the input.

[soamazin55]

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@fishbjc wrote:

Since the human brain doesn't stop growing until early 20's.....

The great news is......you CAN have great credit, it just takes time.  You're working toward that and you have matured and learned a LOT. 

Excellent Job!!!!!  Can you get into Navy Federal Credit Union?  They're amazing!

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 Thank you. And no, if I've understood the membership requirements of NFCU correctly...no way in for me. Appreciate the suggestion though!

[Goal850]

Congrats, you've got some great cards now. Do some reading because I know I've read on here their is a way to get judgements vacated once paid in full. Also on your Amex, I've read you should make sure to go for the CLI on day 61 of 3x your current limit (most people are successfull at getting the CLI approved)

[Scupra]

Discover IT and and AMEX? Congrats man! I dont know how to answer your question about the judgement but did read all the way through and wanted to say good job!

[PapasWifey]

See if you can GW those accts that are already PIF. Can't help on the judgment as I haven't had to deal with that, but contacting Cap1 seems like a logical step.

CONGRATULATONS! Congrats on being accountable and learning from your mistakes and past decisions; Congrats on improving your credit and getting two good cards; and Congrats on getting the assistance from your mother (especially since that inital interaction contributed to the "who gives a __" mentality that got your cards behind).

Way to go, and keep it up. Garden, garden, garden

I am still working on improving/rebuilding my credit. I had A LOT of negatives (lol, I can laugh about it now but was crying in the beginning) and have made a lot of progress but am trying to avoid app'ing this year for credit (although I'm not sure). If all goes well, I should see a significant boost to my CR and score this time next year and may actually be near the 700 mark... man that would be awesome.

[soamazin55]

Thank you to all...

Goal850 - I'm aware of AMEX's 3X CLI...certainly going to cross that bridge when I get to it!

Wifey - I've been thinking about sending a GW to the CA showing a paid collection...then again, i hear they are one of the tougher CA's to get to delete...(portfolio recovery...) But it couldnt hurt. So i'll likely attempt.

[traveler2005]

What was your credit limit on your AE.