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Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: Sphinx313's Credit Journal. The road to 700!

Second guessing my BoA Secured card. I went to the site to apply and the $39 annual stuck out like a sore thumb. That would put me at over $100 a year in AF's. While I put myself here and $100 isn't that bad, the real truth after some thinking is: US Bank will probably unsecure, the two First Progress cards have to go, and I'll still have Capital One. Hopefully, between now and the time I close the two First Progress cards I can open up some sort of Unsecued card, be it a GE backed card or whatever. Just something to fill the "3 revolving accounts" theory.

 

I just went to Chase today and my slate with them is clean, never had a card/account with them, so I opened a Premier Checking account for $0 a month. A friend of mine has like $40,000 in revolving credit with Chase between 2 or 3 cards, so I feel this is a bank I can build a relationship with rather than my current regional type bank. I am transferring all funds and direct deposit into Chase. 28NOV12 marks the start of the relationship, so we will slowly see where I can end up with them.

 

In the meantime, there is still about $700 left of this blitz money, so I'm thinking about putting $300 more into US Bank and then trying to settle my other "collections" with the rest. I wonder what I can get Midland down to from $1,073? They may sue me for that. Oh the gears are grinding.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: Sphinx313's Credit Journal. The road to 700!

BADDIES

 

First Premier Bank: $0 (Settled in Full) Charge-Off. CA was ARM.

 

MidlandMCM: $1,073 Collection. From an old T-Mobile account.

 

Capital One: $0 (Settled in Full) Charge-Off. CA was NCO.

 

Verizon Wireless: $432 Collection. No Collection Agency on CR.

 

Farmer's Furniture: $140 Collection. No Collection Agency on CR.

 

Capital One: $0 Charge-Off. Strange, shows $0 but no CA has been on file ever.

 

HSBC Bank: $0 Charge-Off. Assigned to Nobody. PRA Deleted. $414 debt hanging in the air for now.

 

Allied Collection Service: $1,600 Collection. Local College is OC.

 

Florida Hospital: $49 Collection. Cannot for the life of me get a hold of anyone that knows who owns this debt. Help? (Disputed/extended dispute)

 

Down to 9, with 2 of those paid that were affecting utilization. One baddie removed and it was a BAD baddie: Portfolio Recovery Associates ("PRA")



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: Sphinx313's Credit Journal. The road to 700!

Just called MRS Collections and settled the Verizon account listed at $432 for $216. Another baddie that will never get removed down to zero. Any collections that I just don't stand a chance with will be settled to $0 so I can get a home loan before 2016 when most of this stuff falls off.

 

BADDIES

 

First Premier Bank: $0 (Settled in Full) Charge-Off. CA was ARM.

 

MidlandMCM: $1,073 Collection. From an old T-Mobile account.

 

Capital One: $0 (Settled in Full) Charge-Off. CA was NCO.

 

Verizon Wireless: $0 (Settled in Full) Collection. CA was MRS, they are/were not reporting.

 

Farmer's Furniture: $140 Collection. No Collection Agency on CR.

 

Capital One: $0 Charge-Off. Strange, shows $0 but no CA has been on file ever.

 

HSBC Bank: $0 Charge-Off. Assigned to Nobody. PRA Deleted. $414 debt hanging in the air for now.

 

Allied Collection Service: $1,600 Collection. Local College is OC.

 

Florida Hospital: $49 Collection. Cannot for the life of me get a hold of anyone that knows who owns this debt. Help? (Disputed/extended dispute until 12/19)

 

Down to 9, with 2 of those paid that were affecting utilization. One baddie removed and it was a BAD baddie: Portfolio Recovery Associates ("PRA")

 

Only thing left to do is settle with Midland and get that $1,600 Allied Collection down, by the time that happens my scores should be in the realm of FHA approval (hopefully).



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
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Re: Sphinx313's Credit Journal. The road to 700!

I believe SOMEONE around here suggested to skip the BOA secured anyway :smileytongue:

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
0

Re: Sphinx313's Credit Journal. The road to 700!

You did and I did lol. Really the thought of another annual was eating at me, so I figured why not see if the US Bank will graduate, and then get some better offers for unsecured cards later on as my credit improved. 4 positive reporting TL's for revolvers should get me where I need to be. AND, I got to pay off 3 debts by not getting the card. I gotta tell ya, all of those debts were mine AND valid, and regardless of what I paid to settle them out, seeing $0's down the line on my CR in a month or so is going to be great. Just knowing they are paid is making me all fuzzy. While it may not be doing anything for my CR in the very short term, FHA wouldn't approve me with ANY balances, so this basically had to be done. Plus no more stupid phone calls about money. It's all worth it in the end.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
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Re: Sphinx313's Credit Journal. The road to 700!

Totally agree.  I actually answer my phone now!  Knowing I don't still owe money anywhere is pretty great.  I think you're right with the revolvers, you have 4 so you should be maxing your credit mix, no sense in spending money you could be paying off debt with on another card.  I think the USBank card will be a great one to grow and eventually unsecure.  People seem to like USBank products.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
0

Re: Sphinx313's Credit Journal. The road to 700!

US Bank is currently reporting me to Chexsystems for "Account Abuse" in the amount of $106. I was not only surprised that they gave me a secured card, but more surprised that Chase gave me a checking account with that US Bank on there. Hopefully everything falls into place and I'll have every random debt, including that US Bank one paid off so I don't get any surprise collections down the line.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Regular Contributor
xwill04
Posts: 162
Registered: ‎11-13-2012
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Re: Sphinx313's Credit Journal. The road to 700!

[ Edited ]

sphinx313 wrote:

US Bank is currently reporting me to Chexsystems for "Account Abuse" in the amount of $106. I was not only surprised that they gave me a secured card, but more surprised that Chase gave me a checking account with that US Bank on there. Hopefully everything falls into place and I'll have every random debt, including that US Bank one paid off so I don't get any surprise collections down the line.


be careful not to put too much money in your chase account for at least a month.


they manually review new accounts and close the ones that slipped through the cracks (like yours)

 

Just letting you know because this happened to me.. had some accounts reported by bofa contacted chex and they removed them from my report.

then went to Chase and opened acct about a week later they froze my account and money then closed my account. Had to wait about 2 weeks for the cashier's check to come in for the money i had in my acct. The big banks use another reporting agency to screen applicants called Early Warning Services. This is the one the fraud prevention team looks at AFTER your account has been opened!


Good luck!



Starting Score: Exp:513 | TU:541 | EQ:517 - 11/13/2012
Current Score: Exp:623 | TU FICO:639 | EQ FICO:743 - 01/24/2012
Wallet: Applied Bank $200, OpenSkyCC $300, 1st Tech CU Secured $2k, Discover IT $1.5k, CITI AA $2.8k, USAA AMEX $7.5k
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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
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Re: Sphinx313's Credit Journal. The road to 700!

You reminded to check something that I had been meaning to for awhile.  Just submitted for my Chexsystems report.  Hate that I have to wait for it in the mail.  I know there's no issues with it, since I've opened up like 3 checking accounts in the last couple of years, but still good to know what info people get on me.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
0

Re: Sphinx313's Credit Journal. The road to 700!

This is very interesting news. Let me just get this off my chest...if they freeze all 3 of my direct deposits and leave me hanging for 2 weeks on a formality, they will have to physically remove me from the bank or give me my money on the spot. I am actually going to inquire about this practice tomorrow morning because I believe that is ridiculous and with my current debt repayment situation I am in no position to have my money frozen for weeks.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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