topic Re: I did everything wrong, but it worked. Now What? in Rebuilding Your Credit

I did everything wrong, but it worked. Now What?

atd1970 — Mon, 26 May 2014 19:24:54 GMT

I started rebuilding credit in November. My FICO scores were around 550. I had 22 accounts with CA and 2 FC.

At first I did the whole Shopping Cart Trick, and ended up with 10 new TL, but for stores I will never really use and with low limits. However, this boosted my FICO by about 50 points.

Unfortunately, because I was approved approved for credit from Comenity, I started apping for everything. ALL DENIED. Because of my App spree, I have 25 INQ on my CR.

Anyway. in the last 6 months, 11 of the CA dropped off because of the SOL. Plus, I has opened a Credit One (I know, bad move), and a SDFCU (secured) account. I then applied for a WalMart Store Card, and was approved for $800. I immediately applied for Amazon, and was approved for $800, and then did Old Navy (had to verify information), and approved for $300.

So, I wanted to Garden, but the prescreen thing was too tempting. So last month I applied with Chase, Barclay's, Discover, and BoA. . I got Barclay's ($2000 limit) and Discover ($2000 limit).

Right now, my TU is 660 (WalMart, Barclay) but I know it has to go down.

Re: I did everything wrong, but it worked. Now What?

baller4life — Mon, 26 May 2014 19:41:27 GMT

Time to garden and allow your new accounts and inqs to age! In the meantime work on your remaining baddies and your scores will skyrocket! Good luck

Re: I did everything wrong, but it worked. Now What?

CreditHealthy — Tue, 27 May 2014 00:53:14 GMT

Good for you but, I would probably garden until they all age...

Re: I did everything wrong, but it worked. Now What?

atd1970 — Fri, 30 May 2014 15:11:07 GMT

UPDATE. Checked TU today, and score went up 20 points. I will be in the 700 Club soon LOL.

I still don't know what to do about my remaining collections. Catch 22 I guess. Do I just wait for them to drop off, or try for a PFD.