gurus, anything you'd do different?

[ruger33]

A little backstory. I started working on my credit 6/13 after needing to purchase a vehicle and have a helluva time getting approved. Was able to purchase a low miles truck w/o dealing with santander (yay) but am still getting goosed on interest. (gotta do what ya gotta do i suppose)  I started out with a 480 auto enhanced EQ score as stated in the denial letters, IIRC, a 502 EQ FICO from here,  about a dozen collections, a forclosure from '08, a judgement from an old apartment complex, and a repo from '09 and absolutely no open/current credit. ie cards or installments

I've since had all references to the forclosure removed (showing 0 bal, paid as agreed but still showing the lates, trying to talk chase into making those disappear with no luck as of yet).

Got the judgment deleted, repo shows a 3k balance but hasnt updated since '09 so I havent messed with them yet. Down to 5 collections 2 of which are medical and should come off in the very near future (open communication with the OC and hopeful).

As of now I'm showing 569 EQ Fico here have 1 secured CC, fingerhut revolving line,  AU on one of my wifes cards, mother in law just added me as an AU on an old discover she has( great history, limit and utilization).

As far as open Installments I have only my vehicle.

Not complaining about the progress, but curious if anyone would do anything different as far as new/current credit is concerned or do I have a good start going?

Collections are my top priority as of now.  Any suggestions would be greatly appreciated

[DaBears]

---

@ruger33 wrote:

A little backstory. I started working on my credit 6/13 after needing to purchase a vehicle and have a helluva time getting approved. Was able to purchase a low miles truck w/o dealing with santander (yay) but am still getting goosed on interest. (gotta do what ya gotta do i suppose)  I started out with a 480 auto enhanced EQ score as stated in the denial letters, IIRC, a 502 EQ FICO from here,  about a dozen collections, a forclosure from '08, a judgement from an old apartment complex, and a repo from '09 and absolutely no open/current credit. ie cards or installments

I've since had all references to the forclosure removed (showing 0 bal, paid as agreed but still showing the lates, trying to talk chase into making those disappear with no luck as of yet).

Got the judgment deleted, repo shows a 3k balance but hasnt updated since '09 so I havent messed with them yet. Down to 5 collections 2 of which are medical and should come off in the very near future (open communication with the OC and hopeful).

As of now I'm showing 569 EQ Fico here have 1 secured CC, fingerhut revolving line,  AU on one of my wifes cards, mother in law just added me as an AU on an old discover she has( great history, limit and utilization).

As far as open Installments I have only my vehicle.

Not complaining about the progress, but curious if anyone would do anything different as far as new/current credit is concerned or do I have a good start going?

Collections are my top priority as of now.  Any suggestions would be greatly appreciated

---

Your definately on the right track. I would start with the most recent collections as those are hurting your score the most. Open a secured card and let that bad boy age atleast 12 months. Make all payments ontime is the biggest benefit when it comes to scoring. Keep the secured card reporting every month between 1-9 % util. Send GW letter to recent lates, if the lates are more than 2 yrs old ( 30 Day ) lates those are no longer hurting your scores. 90-120 day lates are major derogatories and will affect your scoring for 7 yrs until each late is removed at the 7 yrs mark of month/date of occurance. 

DaBears

[ruger33]

as far as revolving lines, am I good or is there any benefit to another card? Also, no recent lates, only lates are on my mortgage from '08

[DaBears]

As for as having more cards, Fico likes to see responsible use of them. I have 2 cc's and one store (Best Buy) all I need. I won't be apping for another 2-3 yrs. To stop myself from doing so I put a credit freeze on all 3 CRA's lol. I say one more card wouldn't hurt you. What are your currrent Fico's right now? Might know of a few creditors that might extend credit with an unsecured.

[ruger33]

---

@DaBears wrote:

As for as having more cards, Fico likes to see responsible use of them... What are your currrent Fico's right now? Might know of a few creditors that might extend credit with an unsecured.

---

Only have FICO for EQ and it's at 569. FAKOS for the others are 597 TU and 611 EX but who knows.

[DaBears]

I would let the finghut and secured card age, ontime payments for 12 months. Keeping your util% low your scores will climb.

DaBears