I started building a solid credit profile in college. I opened my first credit card, a Discover, in 2001 as a freshman. Over the ensuing years, my Discover limit grew nicely, and I added a few more cards (Amex, Providian, GE) and some student loans to pay for law school.
Then the Great Recession hit. I lost my job in mid-2009. Credit card balances started going up, and I started falling behind on my CC payments AND my student loan payments. Providian got taken over by WaMu, who failed and got bought up by Chase, who charged off my $6,000 balance when I couldn't pay it. With my scores in the toilet and no income to speak of, Amex closed my charge card, GE closed my Brooks Brothers store card, and Discover CLD'ed me all the way down to $500, but didn't close me.
Finally, in late 2011, I finally got a job. It required a significant move, but I didn't care. My first order of business was to get current on my student loans, which were 150 days past due at the time. I still had the Charge-off from Chase on my CR, and my only open account was my $500 CL discover, but the bad stuff was behind me. The fact that I still had my Discover was a godsend, in particular because I had no car, so any time I needed one (which was most weekends), I had to rent. Enterprise required a $400 pre-authorization, so it was a tight squeeze with my $500 CL, but I made it work.
After just a couple of months, Wells Fargo must have noticed the large direct deposits flowing into my checking account again, and sent me an e-mail saying I was preapproved for a credit card with them. I was skeptical, but I went through with the application. I clicked submit, and got an auto-approval with a $3,000 CL. I nearly fell out of my chair. A few months later, I felt financially secure enough to start shopping for a car. My FICO was only 617 at the time, but it was enough to get me a car loan that wasn't completely predatory (7% APR).
That was the boost I needed to start really figuring out my credit. Not long after, I discovered this community. I wrote a goodwill letter to Chase to get the Charge-off removed from my reports. I tried to get the Student Loan lates off my report as well, but I had no luck. I started requesting CLIs from Discover, and quickly got my limit up to $2,000. I added a Citi Diamond Preferred MC, and an Amex ZYNC. Getting an Amex back in my wallet was such a great feeling--made even better by the fact that I got my account backdated to 2006. By late 2012, my scores were breaking the 700 barrier, and the active stage of my rebuild was just about complete.
Over the ensuing years, I did my best to just maintain my credit. The serious delinquencies on my student loans wouldn't leave my account until 2018, but my scores gradually rose over the years as they fell further into the past. I periodically opened various new accounts on progressively better terms, and for the most part, I didn't really need to think about my credit.
Fast forward to today, and the last of my student loan lates have finally fallen off my TU report; presumably EQ and EX are soon to follow. My FICOs are all in the high 700s. And my ultimate goal of buying my first house is finally within reach, as I have been approved for a mortgage with the best available terms. It's been a long road, but it's worked out. And I have this community to thank for all the help and guidance it's offered along the way.
