topic Re: Silly mistakes from a newbie in Credit Cards

Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 04:49:17 GMT

I am new to credit and have made some mistakes and would love to get veteran advice

Here is the short verison:

FICO® Score 5/19/15

Experian 557 13 inquries

TransUnion 562 12 inquries

Equifax 538 11 inquries

Late only 1 time for 1 card

Oldest Account

1.2 year(s)

Average Account Age

0.8 year(s)

DISCOVER 1500

Credit one bank 300

First Preimer 700

Quciksilver Capital One 1000

Journey Capital One Student card 500

Capital One 500

Barclays 500

Report shows 87% Utilization but by the time the next reports shows it will be 50-60%

What is my best and fastest move in order to get 10-15k+ in CC

Thanks

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 04:54:31 GMT

@Anonymous wrote:
I am new to credit and have made some mistakes and would love to get veteran advice

Here is the short verison:

FICO® Score 5/19/15
Experian 557 13 inquries
TransUnion 562 12 inquries
Equifax 538 11 inquries
Late only 1 time for 1 card

Oldest Account
1.2 year(s)

Average Account Age
0.8 year(s)

DISCOVER 1500
Credit one bank 300
First Preimer 700
Quciksilver Capital One 1000
Journey Capital One Student card 500
Capital One 500
Capital One 500
Barclays 500

Report shows 87% Utilization but by the time the next reports shows it will be 50-60%

What is my best and fastest move in order to get 10-15k+ in CC

Thanks

I'd be paying off some cards and then close the Credit Bum (One) and Worst (First) Premier cards.

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 04:59:43 GMT

That is already in the works, I could pay off all cards in a month or two if I didnt put money anywhere else but the simulator on experian said it would only bump it up to a 620-630 range

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:00:43 GMT

Negatives on reports?

Re: Silly mistakes from a newbie

MarineVietVet — Wed, 20 May 2015 05:00:59 GMT

@Anonymous wrote:
I am new to credit and have made some mistakes and would love to get veteran advice

Here is the short verison:

FICO® Score 5/19/15
Experian 557 13 inquries
TransUnion 562 12 inquries
Equifax 538 11 inquries
Late only 1 time for 1 card

Oldest Account
1.2 year(s)

Average Account Age
0.8 year(s)

DISCOVER 1500
Credit one bank 300
First Preimer 700
Quciksilver Capital One 1000
Journey Capital One Student card 500
Capital One 500
Capital One 500
Barclays 500

Report shows 87% Utilization but by the time the next reports shows it will be 50-60%

What is my best and fastest move in order to get 10-15k+ in CC

Thanks

Hello and welcome.

You have a duplicate thread that I put in Business Credit because you mentioned "so I can run my business off of 1 card not 7 that I have now".

Cross posting is highly discouraged but allowances are made for new posters.

Which of the two threads would you like to keep?

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:02:22 GMT

please keep this one only sorry It was moved for some reason so I didn't know what happend.

wont happen again.

keep this one only

thanks

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:03:02 GMT

None besides a late 30 days for one card on the report

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:04:11 GMT

@Anonymous wrote:
None besides a late 30 days for one card on the report

Which card....

Try to goodwill it.

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:06:34 GMT

No more inquiries lol. And the credit simulators usually suck. I had a utilization of about 65% a few months ago. When I ran the simulator on CK, CS, and Cap One, all told me that paying it down by approximately half would result in an increase of 5-20 points. In actuality, when I paid down to 30% over two months, my credit scores jumped 50-60 points.

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:06:56 GMT

credit bum (one)

Re: Silly mistakes from a newbie

MarineVietVet — Wed, 20 May 2015 05:07:29 GMT

@Anonymous wrote:
please keep this one only sorry It was moved for some reason so I didn't know what happend.

wont happen again.

keep this one only

thanks

I was the one who moved the other thread because you did talk about business in it but it's no big deal.

No need to apologize. I will remove the other one.

Thanks for your understanding.

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:08:05 GMT

Yea I learned the hard way i got excited after my discover 1500 CL smh

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:09:40 GMT

oh ok thanks, and not a business per se but if i wanted to use it for business or persoanl, so here is a good spot for the post

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:10:51 GMT

goodwill it??

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:19:59 GMT

thanks for the feedback the biggest impact right now is my UTilization which im lowering

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:23:19 GMT

Goodwilling it means asking the creditor for a deletion of the late payment. Basically saying "hey, I'm a good customer who was only late once, can you help me out?"

If they agree, they will report the late payment as a mistake and it will disappear from your credit report. That would help alot, since "a single late payment of 30+ days can lower your score by 100 points!" (according to Myfico lol).

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:28:57 GMT

wow 100 points thats major! so i call credit one bank or contact them on the info on my credit report?

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 05:32:57 GMT

I've never done one myself, but I believe you'd contact Credit One. Do you still have a card with them in good standing?

Try Googling "goodwill deletions". There are some helpful articles with tips for success. Let us know what happens!

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 13:21:24 GMT

ok awesome thanks and I will!

the card has a zero balance

Re: Silly mistakes from a newbie

Anonymous — Wed, 20 May 2015 13:09:26 GMT

@Anonymous wrote:
I am new to credit and have made some mistakes and would love to get veteran advice

Here is the short verison:

FICO® Score 5/19/15
Experian 557 13 inquries
TransUnion 562 12 inquries
Equifax 538 11 inquries
Late only 1 time for 1 card

Oldest Account
1.2 year(s)

Report shows 87% Utilization but by the time the next reports shows it will be 50-60%

What is my best and fastest move in order to get 10-15k+ in CC

Have you considered reincarnation?