topic It IS possible... in Rebuilding Your Credit

It IS possible...

TM0312 — Sun, 17 Feb 2013 16:47:53 GMT

It has been a year and a half of hard work repairing my credit. After a foreclosure in 2004, I had ALOT of default credit cards and medical bills on my CRA's.

With the help of this board and the wealth of knowledge provided here, I feel for the first time in 10 years, I can finally see a light at the end of the tunnel.

After being denied for several SECURED cards a year ago, Capital One gave me a chance. I opened a $500 secured card with them and worked diligently

(weekly) with DV's, PFD's and GW's with all reporting agencies. Last summer I was forced to buy a car when my car of 13 years finally kicked the bucket. Again,

Capital One was the only one who would finance me with a high interest rate of 13.9%. I have made sure to keep my utilization between 10 - 20% which, along with deletions, has consistently raised my credit score.

Just recently, I opened an account with my work Credit Union. They were able to refinance my car at 5.9% interest rate. Approved me for an unsecured card ($1000 limit).

I then contacted Capital One Executive Office and asked if my secured card would ever be graduated to an unsecured card. The lady I worked with was extremely helpful, said that is no longer their policy, but she approved me for an unsecured card ($1000 limit). Lastly, I was shopping online this week and using the "shopping card trick" was able to get approved for a Victoria Secret's card (which can also be used at Bath & Body Works) with $1000 limit. I won't use that one very often, I just tend to buy a lot of Christmas gifts at B&B.

I'm done, time to sit back and garden! I know it's a long drawn out process, but I just wanted people to know that it IS possible! There IS a light at the end. I do have two remaining items on my CRA's. One is and old HSBC card (Midland) and the other is an old account with Verizon. I am continuing to work on those.

Thanks to everyone on this board who offer their advice and share their stories! You truly are a blessing to this community!

Re: It IS possible...

awdsmama — Sun, 17 Feb 2013 16:59:10 GMT

Way to go, you have done a great job!!

Re: It IS possible...

Epcot — Sun, 17 Feb 2013 18:35:37 GMT

That's great, nice going!

Re: It IS possible...

Shogun — Sun, 17 Feb 2013 19:01:40 GMT

Very nice!

Re: It IS possible...

Anonymous — Sun, 17 Feb 2013 20:15:50 GMT

Congrats great progress!

Re: It IS possible...

angeltimes3 — Mon, 18 Feb 2013 01:43:42 GMT

Re: It IS possible...

ktl72455 — Mon, 18 Feb 2013 01:59:50 GMT

Congrats!! It gives up newbies hope!!

Re: It IS possible...

Anonymous — Mon, 18 Feb 2013 19:35:41 GMT

That is great news! We are just starting as well after a short sale and some medical collections. Just wondering, what is 'shopping card trick'???

Thanks!

Tamara

Re: It IS possible...

TM0312 — Mon, 18 Feb 2013 19:46:07 GMT

Certain stores will pre-approve you with a soft pull on your credit report when you put items in your shopping cart and click purchase. I did research

on what stores and you can find a list here:

Shopping Cart Stores

Out of pure curiosity, I tried it and it did work! But be careful!!! From what I understand, it can be extremely addicting and you don't want to end

up with too many! I personally did not choose one that I know I would be too tempted to use alot. I know I'll just use it to purchase random birthday/Christmas gifts.

Hope that helps!