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Re: May 2017 Check-In Thread


Revelate wrote:

beautifulblaquepearl wrote:
It make sense. Thanks for taking the time to answer my questions Revelate. It's appreciated!Smiley Happy I'm pleased with my current profile. If I have to wait until the account falls off or my most recent 30 day late turns 5 I'm okay with it. 

 

Any thoughts on the recent rumor concerning BoA discontinuing BBR credit card?


Other than the fact I'm surprised it took BOFA this long, nope Smiley Happy.

 

I think it was too easy to abuse and even if it were working correctly, not enough to make money on.  BOFA needed lots of swipes or BT's to offset the $25/quarter, and anyone with any sort of knowledge regarding credit card rewards, would be swiping with something else.

 

I think the entire product was positioned based on people's credit experience from some previous decade frankly, but I admittedly don't have access to the same market data that BOFA has.  Unique products often have unique problems in a red water market, and a consumer earning credit card rewards at an effective rate of what, ~400/hr, makes too much sense even if I never took advantage of it but I've always been more conservative than many for all that I preach aggressive credit establishment and spree methodology heh.

 

That and I can be kinda lazy at times Cat Tongue


Thanks Revelate.

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 05/04/17 EQ 781 TU 776 EXP 792
Current Score: 776
Goal Score: 800
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Posts: 5
Registered: ‎05-10-2017

Re: May 2017 Check-In Thread

Hi! I'm new to MYFICO and this is day one for me of the challenge and getting my credit and financial life on track. I haven't progressed in my numbers but I have progressed in my mindset, which is the first step. I am not happy with my FICO scores, not happy with my credit scores, and not happy with my bank account. My goal is to eventually get to 800 in my FICO and credit scores. I have taken a few steps already. I went down the line and disputed everything on my credit report. I'm waiting to hear back from those. Once I see what has fallen off and what will stay, I will start to work on late payments. Capital One is reporting 7. I will call them and also mail them letters requesting Goodwill forgiveness. 

 

One question I have for anyone willing to answer: I have a fairly recent repo on my credit. Should I get another car and pay it off, therefore proving that I can handle car payments, or would it be better to request a pay to delete and knock it off the report?

Starting Score: 566
Current Score: 566
Goal Score: 780


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Moderator
Posts: 16,937
Registered: ‎12-30-2011

Re: May 2017 Check-In Thread

[ Edited ]

Adrienna0fATLANTIS wrote:

Hi! I'm new to MYFICO and this is day one for me of the challenge and getting my credit and financial life on track. I haven't progressed in my numbers but I have progressed in my mindset, which is the first step. I am not happy with my FICO scores, not happy with my credit scores, and not happy with my bank account. My goal is to eventually get to 800 in my FICO and credit scores. I have taken a few steps already. I went down the line and disputed everything on my credit report. I'm waiting to hear back from those. Once I see what has fallen off and what will stay, I will start to work on late payments. Capital One is reporting 7. I will call them and also mail them letters requesting Goodwill forgiveness. 

 

One question I have for anyone willing to answer: I have a fairly recent repo on my credit. Should I get another car and pay it off, therefore proving that I can handle car payments, or would it be better to request a pay to delete and knock it off the report?


Welcome to the forums!

 

Always try to get negatives deleted off one's report.  Bunch of disputes isn't likely to produce a lot of results but check over in the Rebuilding section for some ideas for addressing specific creditors listed on your credit report if you haven't already.

 

Buying another car and paying it off won't help your credit scores measurably, might help on manual underwrites but see if you can get the repo off the report... if you need another car though, that takes priority admittedly.  There's little that's intrinsic to a car loan, though if you don't have any open installment loans (auto, mortgage, personal, student) and you need to start tacking on positive tradelines anyway, do check this thread out:

 

Method:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, TU 4 742, EX 2 702, EQ 8 722, TU 8 757, EX 8 737 (5/13/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Re: May 2017 Check-In Thread

Thanks for the advice!

Starting Score: 566
Current Score: 566
Goal Score: 780


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Posts: 2
Registered: ‎03-08-2017

Re: April 2017 Check-In Thread

Hi Eveyone,

 

Not much to update since I joined recently but here it is :

 

Good News: A couple days ago I was able to get aproved a for CL increase on 3 of my credit cards, which reduces my credit utliization for those cards, I hoping this change will be reported as soon as next month on my credit report and hoping to some points increase on my scores.

 

 

Bad News: My Experian score drop by 10 points for reducing a credit card balance from $60 to $0, very upseting to see this I plan on calling the credit bureau on Monday to see if they can fix this. I shouldn't be punish for paying my credit card balance off, wish me luck.

 

UNTIL NEXT TIME

Starting Score: 561EQ 556EX 564TU
Current Score: 595EQ 589EX 611TU
Goal Score: 700


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Posts: 16,937
Registered: ‎12-30-2011

Re: April 2017 Check-In Thread

[ Edited ]

Wishes wrote:

Hi Eveyone,

 

Not much to update since I joined recently but here it is :

 

Good News: A couple days ago I was able to get aproved a for CL increase on 3 of my credit cards, which reduces my credit utliization for those cards, I hoping this change will be reported as soon as next month on my credit report and hoping to some points increase on my scores.

 

 

Bad News: My Experian score drop by 10 points for reducing a credit card balance from $60 to $0, very upseting to see this I plan on calling the credit bureau on Monday to see if they can fix this. I shouldn't be punish for paying my credit card balance off, wish me luck.

 

UNTIL NEXT TIME


Was that your only balance on a revolver?

 

Known penalty if so, but ain't no big thing... just let a small balance report on any credit card and will get the points right back.

 

Little update for the thread: TU whacked my tax lien; they had the right everything except the court document number, bye Felicia!  Cat LOL

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, TU 4 742, EX 2 702, EQ 8 722, TU 8 757, EX 8 737 (5/13/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Member
Posts: 20
Registered: ‎04-04-2017

Re: May 2017 Check-In Thread

Check in #2 this year. Not a whole lot has changed so far as I just started my rebuild journey in March, however, I have made some small gains.
EX (Apr) 596 (May) 618 +22
TU (Apr) 597 (May) 595 -2
EQ (Apr) 586 ( May) 598 +12

Diputed 2 judgements on my reports that were paid by medical insurance.
Experian didn't just delete those 2 judgements, but deleted all 8 that were on my report.
Transunion verified the judgements and changed nothing.
Equifax has not yet responded.

PC'd my cap1 platinum to a QS. I know I am probably still stuck in a low tier as my scores were in the 550s 2 years ago when I got the card, so I am not expecting great CL increases with this card, but the 1.5%CB is better than no rewards at all so I'm ok with it right now.

Asked for a CLI today on my QS1 card and recieved $100 increase. I have only had the card since March 7th and 3rd statement cut today. Will hopefully get a larger increase with credit steps in 3 months.

I'm thinking of combining the QS and QS1 into one account after my steps increase on the QS1. I don't think I need both cards as I have a comentity Eddie Bauer card and a NFCU cash rewards card also.

Still have a collection and a charge off reporting. Hope to have those at least PIF in the coming months.

Still wanting to clean up the report enough to get Disco IT, but I'm content with gardening the cards I have right now.

Hope everyone else's credit journey is progressing as well as they hoped. I will check in again next month.

Night all


New Member
Posts: 4
Registered: ‎05-19-2017

Re: May 2017 Check-In Thread

No changes in my score since I joined 2 days ago, but I've taken some action.  

 

1.) After much research, I'm not very sure that the collection account that I owe $480 on is actually mine.  It was posted 2013, so that was some time ago, but I really have no memory of what it is ascribed to (a local telecom company).  So I started the dispute process through CK.  Again, if it's verified as mine, I'll just pay for it.  2013 was a bit crazy as we were moving cross-country at the time, but I'm pretty sure I paid all my bills before we moved.  

 

2.) I applied for and got approved for two CC that I will garden.  One has a CL of 500, the other 300.  Not much, but at least I can gently use them and PIF monthly to make my payment history look more pretty. I realize that my score may go down a bit due to the credit check and the average decreased age of credit, but I need to get my house in order, plus it may be somewhat balanced out by increasing my total credit line. 

 

(I have an additional goal to get the United airlines miles card, for the future, but that will have to wait until things are cleaned up.)

 

Question:  does anyone know how many payments you can do to BofA per month?  It doesn't have it anywhere on their website, but when I tried making multiple payments online last month as I used it to buy gas and groceries (so they wouldn't "chase the balance" on me again--which they had done a couple times as I started paying it down, tanking my score as it was going up--with the excuse that "you're not using it, so you're not invested in us" Smiley Mad ), it told me that I've already scheduled my limit of payments for the month, but didn't say what that limit was.  

Starting Score:EQ 630 TU 621 EX 614
Current Score: EQ 630 TU 621 EX 614
Goal Score: EQ 750 TU 750 EX 750


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Moderator
Posts: 16,937
Registered: ‎12-30-2011

Re: May 2017 Check-In Thread

[ Edited ]

x9144190 wrote:

No changes in my score since I joined 2 days ago, but I've taken some action.  

 

1.) After much research, I'm not very sure that the collection account that I owe $480 on is actually mine.  It was posted 2013, so that was some time ago, but I really have no memory of what it is ascribed to (a local telecom company).  So I started the dispute process through CK.  Again, if it's verified as mine, I'll just pay for it.  2013 was a bit crazy as we were moving cross-country at the time, but I'm pretty sure I paid all my bills before we moved.  

 

2.) I applied for and got approved for two CC that I will garden.  One has a CL of 500, the other 300.  Not much, but at least I can gently use them and PIF monthly to make my payment history look more pretty. I realize that my score may go down a bit due to the credit check and the average decreased age of credit, but I need to get my house in order, plus it may be somewhat balanced out by increasing my total credit line. 

 

(I have an additional goal to get the United airlines miles card, for the future, but that will have to wait until things are cleaned up.)

 

Question:  does anyone know how many payments you can do to BofA per month?  It doesn't have it anywhere on their website, but when I tried making multiple payments online last month as I used it to buy gas and groceries (so they wouldn't "chase the balance" on me again--which they had done a couple times as I started paying it down, tanking my score as it was going up--with the excuse that "you're not using it, so you're not invested in us" Smiley Mad ), it told me that I've already scheduled my limit of payments for the month, but didn't say what that limit was.  


Check over in Rebuilding for some ideas for trying to address the collection; a simple dispute is generally the least ideal unless you have a very explicit reason tied to it... lot of frivolous "not mine!" disputes which just get ignored.

 

As for BOFA, can ask over in CC's as I don't know, but I don't think making multiple payments ever helps with, well, anything... besides looking weird on the lender's transaction record.  Don't think it necessarily hurts per se, but I try not to do anything that looks abnormal from what Joe and Jane Consumer would do.  

 

Good plan on the 2 CC's though, establishing positive tradelines is a big first step towards building a credit file.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, TU 4 742, EX 2 702, EQ 8 722, TU 8 757, EX 8 737 (5/13/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Re: May 2017 Check-In Thread

Thanks, Relevate, for taking the time to answer!  I usually make two payments a month to BofA, coinciding with my paycheck, but had been dealing with them chasing my balance down several times. I went from a 10k to a 5800 credit limit, and as they chased it down, my credit scores of course went down.  Each time they did it, I was given a letter that said something along the lines of me not being "invested" in BofA and that I'm not using the card, blah blah blah.  So I started using the card for small purchases but wanted to make sure that I didn't lose track of how much I spent on it and wind up with a balance greater than before.  Therefore I added some extra payments to make up for it, and ran into the limit.  Lesson learned, I'll just make a bigger single payment. Smiley Happy

 

I agree that disputing that collection through CK is a long shot, but it was a simple process, and if it works that would be great.  I'm sure people are abusing the system, which is sad, because I truly think this one is an actual error on my CR.  I suppose if this one doesn't work, then I'll take it up with the CA.  

 

Thanks!

 

Starting Score:EQ 630 TU 621 EX 614
Current Score: EQ 630 TU 621 EX 614
Goal Score: EQ 750 TU 750 EX 750


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