New Member
Posts: 2
Registered: ‎10-09-2012

Where to Start? New Member, Some Progress Already

My credit used to be in the 500s, now I am at Experian 630, Equifax 639, and Transunion 658. 


Long story short, when I was going to college out of state my father said he was going to handle the CC's in my name that I used for living expenses. Turns out he didnt pay for them on time, and he charged one off. I came home 2 years ago to a whole mess of credit problems, and I've been trying to fix them.


On my credit I have:


1. Chase CC acct that shows it is closed, but a settlement was taken


2. collections account from Creditors Collection that shows closed no balance


3. collections account from Escallate LLC that shows closed no balance


4. collections from GECRB that shows closed, charge-off, transfered to other collector


5. Wells Fargo CC acct that shows closed, but settlement was taken



Most of these accounts and settlements are all from 2009-2010. 


For the last year I have had a C1 secured card, with first a $1000 limit (they gave me $300, I added $700), then after a year they upped me $300  to $1300without additional deposit. This is my only CC, current on payments for 15 months. 


Where should I go from here? I have an 80K / yr job, and chase turned me down for their basic CC despite the fact I bank with them. MB financial offered me a secured card, I bank with them as well. 


Should I get another CC or two? Is their anything I can do about the negative stuff above that shows up on my credit?




New Member
Posts: 2
Registered: ‎10-09-2012

Re: Where to Start? New Member, Some Progress Already


Valued Contributor
Posts: 1,216
Registered: ‎05-10-2012

Re: Where to Start? New Member, Some Progress Already

[ Edited ]

What about the rest of your credit profile? Your scores are pretty decent, considering.  Credit mix, AAoA, utilization, total payment history since the 09-10 baddies.  I'd get to work GWing the crap out of the older collection accounts.


Edit:  I should add, CC decisions are purely credit based, they don't care about your relationship with the bank and your credit score does not take into account your income.

  • 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
Established Contributor
Posts: 930
Registered: ‎07-30-2011

Re: Where to Start? New Member, Some Progress Already

Don't try to build a relationship with Chase, because you are now blacklisted for the settlement.  Even if you had paid the balance in full, they still would have blacklisted you indefinitely, because that's what they do.  GW letters should be your next course of action.  It's too bad that everything was settled and paid before you knew about PFD.  That could have saved you a lot of headaches.

Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Posts: 12,952
Registered: ‎04-15-2011

Re: Where to Start? New Member, Some Progress Already

Start sending the GWs to those paid accounts.  Go ahead and get the secured card, it will give you another revolving TL that will help your account.  Read the link below regarding GWs.  Formulate your plan and get those going.  Good Luck!

Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+