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New Member
Posts: 4
Registered: ‎05-26-2014
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Re: May Check in Thread

NEW MEMBER
This will be my first update!! As of today:
1- I've paid down my Capital One CC from $750 to $353.(goal is to be at 0 balance by 11/14)

2- Opened a Secured Amex with USAA
(Will be adding $250 every year)

3- Sent out GW for paid medical collections
(Still waiting for response)

4- requested and was approved for a extension on my student loans until October 2015 ($8000 in total; goal is to have paid off by 12/15)

My ultimate goal is to purchase a home and car in the next couple of years. But most of all be aware of my credit. I was in the dark so long, I've completely let my credit go wild!! But not anymore!! I'm currently 621 TU 637 EQ 601 EX
Valued Member
Posts: 88
Registered: ‎04-16-2014
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Re: May Check in Thread


Flaca66 wrote:

Now I will just have to sit and wait for all those new accounts I opened last year to mature a bit.  A word of advice; I financed two new vehicles last year, and both banks involved issued me credit cards and checking accounts to go along with the loans.  Now the cars are paid for, but I still have six "new" accounts on my record.  Does anybody know which would hurt my score more, closing all those accounts or just letting them sit and mature?

 


Everything that I have read on here says do not close any credit card accounts unless the lender is sub-prime and you are paying an annual fee.  I spotted a link to a popular thread recently titled maybe "Closing Cards", maybe you could look for that in search or the sticky posts?  People have been pretty vehement that most of the time you shouldn't close anything.  See if you can dig up that thread for more info.


Starting Score: 560
Current Score: 652 EX / 675 EQ / 643 TU
Goal Score: 700

Cap One QuicksilverOne $3000 | FirstTech FCU Visa $2500 | Discover IT $1500 | Amazon.com $700 | JCrew $600 | Ann Taylor $500 | VS $350 | Nordstrom Visa (AU) $15,000 | American Express® Gold

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Valued Member
Posts: 88
Registered: ‎04-16-2014
0

Re: May Check in Thread

My first check-in!  I should have joined last month, well I had tried to get the email siggy right and I kept getting an error when I went to save so I scrapped it all as a bad job, haha.  

 

Anyway, here's the good, the bad and the ugly.

 

GOOD (6): 

-Cap One card opened in July 2013 is maturing.  They let me upgrade from platinum unsecured to QuickSilverOne and increased my CL from $300 to $500.

-Used the shopping card trick in April to open three Comenity store cards: JCrew, Ann Taylor, VS.  Made one on-time payment for each.  JCrew already gave me a CLI!  Combined total Comenity credit of $1450.

-Car loan from 11/2012 with a cosigner, starting balance $12K, all paid on time (YEAH!) and about halfway paid off.

-Installment loan with Springleaf, starting balance $3100.  Have paid regularly since Jan, and put an extra $400 this month toward the principal.

 

BAD (5):

-B of A secured card closed in early 2011 after I stopped paying on it.  So there's a string of lates.  I sent off 9 GW letters this week.  Maybe they'll remove the TL altogether.

-A couple old lates on my US Dept of Ed student loan which is paid off now.

-Paid collection with Evergreen Professional Recovery, wouldn't go away when I disputed. Emailed GW yesterday.

-Paid collection on just EX with ACT Collection, dropped off the other reports when I disputed. Just found this there today so need to write some GW letter.

 

UGLY(2):

-Two unpaid collections to the same CA, around $900 each, started as less than $100.  One is supposed to drop off this fall and the other this winter.  I'm having a *really* hard time being patient about them though.

 

My goals:

-Remove all the baddies

-Convince my mom to add me as an AU on one of her older accounts (once she lowers her util though).

-Get a decent CL Visa through my credit union when my EX FICO hits 650 (currently 625).

-Get my own Amex cards (charge and revolving) when my EQ FICO hits 660 (currently 606 but was 650 last month and I think it's about to rebound).

-Buy a house with a yard my kid can play in

-Buy an AWD Subaru, maybe a Crosstrek, with a roof rack and sunroof and seat warmers!

-Buy a rental property or three

 

I think I can do the first four this year, and save the house and car and rentals for the future :smileyhappy:

 


Starting Score: 560
Current Score: 652 EX / 675 EQ / 643 TU
Goal Score: 700

Cap One QuicksilverOne $3000 | FirstTech FCU Visa $2500 | Discover IT $1500 | Amazon.com $700 | JCrew $600 | Ann Taylor $500 | VS $350 | Nordstrom Visa (AU) $15,000 | American Express® Gold

Take the myFICO Fitness Challenge
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