topic Re: Fico went up..now what? in Rebuilding Your Credit

Fico went up..now what?

Anonymous — Tue, 16 Sep 2008 00:41:41 GMT

OK, so I had 6 accounts deleted off my report, including two paid judgements. My score went up from a 517 on EQ to 536 ( i was really hoping it would be more). My question is, what shot do I have to be approved for some type of unsecured credit card? I was also recently added on to an AMEX Blue and Chase CC accout. I already had the rebuilders (and defaulted) on Orchard and First Premiere. Any receommendations?

Re: Fico went up..now what?

Anonymous — Tue, 16 Sep 2008 01:19:07 GMT

Anyone?

Re: Fico went up..now what?

Anonymous — Tue, 16 Sep 2008 01:37:05 GMT

With the current credit situation, you may only be able to get a Secured card after defaulting on First Premier & Orchard Bank. Although, if you defaulted and paid them in full (no settlements) then you may only have to wait 30 days, I belive, before you can apply with them again.

I made a settlement with Capital One Bank and was told that if I paid the other percentage of my 40% settlement (60%) which amounts to paying in full, only then would I be allowed to apply for another credit card with their bank. Same works for cellular phone companies (like Sprint).

You should call them through their customer service number to ask that question, as that is how I got my answer.

Re: Fico went up..now what?

Breakthecycle2 — Wed, 17 Sep 2008 01:39:03 GMT

What about Credit One? Any good?

Re: Fico went up..now what?

haulingthescoreup — Wed, 17 Sep 2008 02:54:48 GMT

@Breakthecycle2 wrote:

What about Credit One? Any good?

Ooo, ick, stay away from them, if you can.

What is left showing on your credit reports? In other words, ignoring the deleted items which don't show up anyway, what is left on your reports? --lates of how long each and how long ago, remaining CO's, collections, judgments, BK, etc.

Lenders do look at your scores, but they look at least as hard at the reports that create the scores. Some overlook some types of problems, others are death on the tiniest little things.

edit to add: one tactic that you might want to look into is to get in with a local credit union. I don't know that your EQ is high enough yet for a CU to give you a secured card (you just never know), but once you get a bit farther down the road, CU's are great for helping you move toward prime credit.

I'd print out your EQ score and report and start visiting local CU's, explaining where you've been and where you want to go, and get a feel for what each one has to offer. Unless they jump all over you, I would NOT authorize a hard inq for a card now, but when you find a place you like, you should open a share account (savings) or draft account (checking), fund it religiously, and build a history with them.

CU's are just fantastic for helping people get out of the muck and mire.

Message Edited by haulingthescoreup on 09-16-2008 07:54 PM

Re: Fico went up..now what?

Breakthecycle2 — Wed, 17 Sep 2008 02:58:11 GMT

Thanks for the great advice. Ihave collection accounts that are being reported. Two of which are bogus (Afni and Imagine Mastercard). I have sent DV religiously and they have yet to respond. I have GW two other accounts that are paid, HSBC and Cap One. I am awaiting their response.