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general rebuild advice and pfd question.

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Anonymous
Not applicable

general rebuild advice and pfd question.

Hi, looking for help.
My background: I started to rebuild about 8 months ago and have seen an improvement of almost 100 points in that time. Was able to get several pfd's and had a few age off but now I'm stuck at scores 578 586 614.

I have 3 positive tradelines:
1 secured credit card $600 CL with utilization around 10% except for at christmas when it was 48%. (8 months old)
2 store cards (via shopping cart trick- soft pulls) CL $250 and $350 (just recently opened).

Inquiries: 4

Negative items:
-$10k defaulted student loan. It's showing as a CO even tho i have been paying every month since 2012. Also the original loan holder is reporting as a separate entry and shows multiple lates etc before it was transferred to government. I am not eligible to rehab it but just recently found out I'm eligible to consolidate and i am in process of applying.
-judgement from capital one from 2009 with less than $900 balance that I will be satisfying in a month or two. Separate entry from capital one for the charge off.
-4 small medical collections (total $1100 all together)

2 of the medical collections are with the same CA. I recently faxed them a pfd delete letter and have not had a response yet but when I checked my EQ score power today they are showing as disputed. I have not disputed them and my pfd letter was worded as that i neither acknowledge nor dispute but am offering pfd as gw gesture.

So my questions are, is it normal for the CA to mark account as disputed after receiving a PFD letter, does this mean they will respond or is this bad news? And any general rebuilding advice specific to me would be appreciated. Thank you for taking time to read.
Message 1 of 7
6 REPLIES 6
gdale6
Moderator Emeritus

Re: general rebuild advice and pfd question.


@Anonymous wrote:
Hi, looking for help.
My background: I started to rebuild about 8 months ago and have seen an improvement of almost 100 points in that time. Was able to get several pfd's and had a few age off but now I'm stuck at scores 578 586 614.

I have 3 positive tradelines:
1 secured credit card $600 CL with utilization around 10% except for at christmas when it was 48%. (8 months old)
2 store cards (via shopping cart trick- soft pulls) CL $250 and $350 (just recently opened). You need 2 more revolving bankcards minimum to help maximize Fico and beware that shopping cart trick some get addicted to it and end up with cards they wish they never opened, only open store cards you will actually use.

Inquiries: 4

Negative items:
-$10k defaulted student loan. It's showing as a CO even tho i have been paying every month since 2012. Also the original loan holder is reporting as a separate entry and shows multiple lates etc before it was transferred to government. I am not eligible to rehab it but just recently found out I'm eligible to consolidate and i am in process of applying. An account will report as a CO even if you begin to make payments again, once it becomes a CO can never go back to a current account.


-judgement from capital one from 2009 with less than $900 balance that I will be satisfying in a month or two. Separate entry from capital one for the charge off. Once its paid off you want to have the judgment vacated on grounds its been paid, if the judgment owner wont help with this you can do it yourself in some states, you need to look in the states codified laws governing the civil court system to see what grounds can be used to vacate a judgment.


-4 small medical collections (total $1100 all together)

2 of the medical collections are with the same CA. I recently faxed them a pfd delete letter and have not had a response yet but when I checked my EQ score power today they are showing as disputed. I have not disputed them and my pfd letter was worded as that i neither acknowledge nor dispute but am offering pfd as gw gesture.

So my questions are, is it normal for the CA to mark account as disputed after receiving a PFD letter, does this mean they will respond or is this bad news? Its not something thats typically done and usually not good news , they are taking your PFD as a dispute of the claim. so if they deny and since these are medical CAs Google and use the HIPAA Process, you can contact its creator for help.

 

And any general rebuilding advice specific to me would be appreciated. Thank you for taking time to read.


 

Message 2 of 7
Anonymous
Not applicable

Re: general rebuild advice and pfd question.

So if you apply for credit at checkout they only do a soft pull? So if I went to target and applied for a store card it would be a soft pull?
Message 3 of 7
Anonymous
Not applicable

Re: general rebuild advice and pfd question.

Gdale6 I read three credit lines were optimal. Is five really better for your fico score?
Message 4 of 7
Anonymous
Not applicable

Re: general rebuild advice and pfd question.

@ fordex. I believe if you apply at the store with Target it will be a hard pull. There is a thread on this website for the shopping cart trick. It only works for the commenity brand store cards.

@ gdale. Thx for the advice, i figured I was going to have to end up using the hippa process at some point but I have been avoiding it this far cause it seemed so involved, more room for something to go wrong. Pfd seemed so simple. Backfired on me tho. I will pursue it thx.
Message 5 of 7
Anonymous
Not applicable

Re: general rebuild advice and pfd question.

@fordex but yes the shopping cart trick is a soft pull
Message 6 of 7
gdale6
Moderator Emeritus

Re: general rebuild advice and pfd question.


@Anonymous wrote:
Gdale6 I read three credit lines were optimal. Is five really better for your fico score?

3 bankcards and 1 store card are the minimum you need to help maximize your FIco. The first 3 that you get typically result in a bump in score subsequent will ding for a period of time but those points are recovered and as your accounts age your Fico increases even more. The thicker your file the better for Fico scoring and underwriting.

Message 7 of 7
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